This is a bit concerningThe policy was written with an effective date of 10/28/2015-10/28/ Since this is a E & S market, due to the nature of the business, It is a 25% minimum earned policy, This was collected as the down payment as required by the finance contractThis was explained to him and he signed off on itHe then came in personally, on 2/1/and cancelled his policy months and days after policy inception, days past the 25% mark of the policy inceptionHe explained to me that he was canceling the policy because there wasn't enough work to justify the billingThe finance company invoiced us for the cancellation and we returned all Unearned commission back to the carrierThe client should have received all money paid in except the original 25% that was paid for the down paymentThe client was aware of the certificate process as we provided one for the Department of Labor in order for him to get his ExemptionThere was no correspondence after that regarding certificates of Insurance
This is a bit concerningThe policy was written with an effective date of 10/28/2015-10/28/ Since this is a E & S market, due to the nature of the business, It is a 25% minimum earned policy, This was collected as the down payment as required by the finance contractThis was explained to him and he signed off on itHe then came in personally, on 2/1/and cancelled his policy months and days after policy inception, days past the 25% mark of the policy inceptionHe explained to me that he was canceling the policy because there wasn't enough work to justify the billingThe finance company invoiced us for the cancellation and we returned all Unearned commission back to the carrierThe client should have received all money paid in except the original 25% that was paid for the down paymentThe client was aware of the certificate process as we provided one for the Department of Labor in order for him to get his ExemptionThere was no correspondence after that regarding certificates of Insurance