1.What commissions do you pay?
Our commissions range from 15-20 percent depending on the book of business. Many times we will include a sliding scale.
2. What is required to become a producing agent? How long does it take?
In order to become a producing agent one must complete the producer questionnaire and agreement form, provide a copy of current E&O insurance and a copy of current insurance license. Processing is completed within 2-5 days.
3. Can I receive a quote without being a producing agent?
Yes, we will provide quotes to non-producing agents. However, prior to binding any business the producing agent must complete the process noted above.
4. How are commissions paid?
Customarily, we invoice your office net of commission.
5. What insuring carrier will the policy be issued under
Our insuring paper is 100% Munich Re Syndicate Limited – Syndicate 457 at Lloyd’s, one of the largest marine insurance underwriters at Lloyd’s and managed by Munich Re Underwriting Limited.
6. How long does it take to receive a quote?
Quotes are usually turned around within a 1-3 day window depending on the risk type (provided that all pertinent information has been received).
7. Is this a surplus lines market?
Yes our Lloyd’s of London paper is considered surplus lines.
8. Do I have to have a surplus lines license in order to write business with Roanoke Underwriting?
Yes, our producing agents should have a surplus lines license and follow state insurance regulations. We can make accommodations whilst you are in the process of obtaining the necessary license.
9. Who files the surplus lines tax?
The producing agent is responsible for all surplus lines taxes, fees, or other regulatory filings.
10. How are claims filed?
Claims are filed directly with Roanoke Claims Services.
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