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Broker of Record

  • All Broker of Record letters must be on the insured’s letterhead.
  • Only original Broker of Record letters are acceptable. A faxed copy can be submitted in order to begin the 10 day waiting period before the quote can be released to the new broker. During this period, the incumbent agent will have the opportunity to submit an original countermanding letter. Original BoR’s and countermanding letters MUST be received in ROAMNET’s offices within 10 days of the receipt date by ROAMNET of the initially faxed BoR.
  • All Broker of Record letters must be signed by the named insured, an active partner or corporate officer.
  • All Broker of Record letters must be received 15 days prior to the policy expiration date.
  • When an agent receives a Broker of Record notification, 10 days will be allowed to submit an original countermanding letter. Only one countermanding letter will be accepted.
  • If the Broker of Record letter is received within 15 days of the expiration date, both brokers will have the quote released to them. The policy will be issued and commissions paid to the producer designated by the insured as the desired agent. This can be done by a letter from the insured on the insured’s letterhead or by the insured’s check for the deposit. An agency check is not acceptable.
  • Payrolls will not be decreased from the original submission and quote