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Press Release on Downgrade |
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Announcing a our new TPA in CA |
We have been notified by the carrier that effective on quotes with an effective date of 08/01/2011 and later the following will apply:
New net rate sheets that are normally provided to the client along with the policy will no longer include non-commissionable fees.
These non-commissionable fees include: state assessments, expense constants, terrorism/catastrophe charges, and individual / blanket waivers. Quotes will be unaffected by the change and remain in the same format.
See also, a separate billing report that breaks out the estimated commissionable premium as well as the non-commissionable premium. The non-commissionable premium/taxes and assessments will now be DUE AT BIND.
Please find attached a copy of a sample quote, sample new net rate sheet, sample billing report for the quote and a sample PIP.
We have also attached the sample pip in an excel format for your office to complete at the time of bind. Please note on the pip that the total amount due will now be the commissionable premium and the taxes and assessments are not just the expense constant.
Please let us know if you have any questions regarding the changes. You may contact us at
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.
REMINDER: (Do not use independent reps emails). Please include in the subject line the clients name, FEIN and effective date.
Please send all emails to the following:
1. New submissions, Waiver requests, Endorsement requests to
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.
2. Renewal submissions, 941 requests to
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.
(If possible please include the word renewal in the subject line)
3. Payroll reports and general reporting questions to
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Samples Non-Commissionable.pdf
Companion DNIC Billing Options PIP 7.15.2011.xlsx |
