Cancel Re-write - please Clarify

rgleyzer

Expert
30
Cancel rewrites...

If you are BORing an account from another agency, what are the negative implications with a cancel re-write, or are there any for the client? We are a few days into the current policy so if I am taking it over, I would need to be paid for the nearly 12 months of work. The only way I see myself getting paid for the business is to cancel the current policy.

Do most carriers process cancel rewrites?




Thanks
 
Do most carriers process cancel rewrites?

Yes, most carriers will process cancel rewrites....

But I'd be real careful about that!:skeptical::skeptical: Most carriers will at least frown on that practice (although they may or may not do anything about it)... but other carriers might get highly pissed about it! I don't know for sure, but I bet some carriers consider it a huge no no!

The answers to your questions are very carrier specific.

As for your client, he/she could lose a possible continuous coverage discount too, if the carrier applies that discount. but other than that, the risk is mostly on you.

personally, I wouldn't go there.

you might want to voice your concern to your regional sales rep, and find what they have to say about it.... but I wouldn't do it on my own unless I was switching them to a new carrier.
 
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