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Do you have a question? Please look below for the answer. If
you don't see the answer either give us a call of send us an email at: help@cmiprorisk.com.
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Quoting/Binding/Policy Issuance
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Where are you located?
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Our address is:
111 Pine Street, Suite 1530
San Francisco, CA 94111
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Who should I address my submission to at CMI?
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To whom should premium payments be made?
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All taxes and fees are to be included with the premium and
made payable to "Cooper & McCloskey, Inc." CMI is responsible to file the policy
with the State of California and forward all taxes and fees.
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When is premium due?
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Premium is due net 10 days after the effective date
of the policy/endorsement. Due to the increasingly strict payment terms
enforced by the carriers, notice of cancellation because of non-payment
of premium may be issued after 10 days.
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To whom do we pay Surplus Lines taxes and fees?
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All taxes and fees are to be included with the premium and made payable to
"Cooper & McCloskey, Inc." CMI is responsible to file the policy with the State of
California and forward all taxes and fees.
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Do you provide financing?
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We only provide financing on our Insurance Agents E&O program. Otherwise,
brokers may arrange financing with an outside lender on behalf of the insured. Contact Jennifer
Day of Imperial Finance www.iaicc.com at 800.388.7088 x11.
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How can we receive an invoice?
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Invoices are faxed and mailed with the binder.
Copies can be provided upon request.
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Quoting/Binding/Policy Issuance
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How can I obtain a quote?
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We are able to provide a quote upon receipt of any
carrier's fully completed, new business application. Quotes
cannot be obtained from renewal applications.
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What is required to bind coverage?
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Carriers stipulate their own binding requirements.
Those requirements are detailed in the quote CMI provides you. Upon receipt of
those items we can instruct the carrier to bind coverage.
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When do I receive a binder?
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The carrier will review all the required items provided with
the order to bind. At that time, they will either provide a binder or advise of
additional items required to issue a binder. Upon receipt of the carrier's binder
we will fax you a copy along with an invoice. The original binder and invoice are
then sent to your office.
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When are policies issued?
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Policies are issued within 30-60 days depending on the carrier.
However, policy issuance can and will be delayed if all the subjectivities of the binder
are not met. That includes, but is not limited to, receipt of the original
application/supplements and premium payment. Upon policy issuance the original
and one copy will be mailed to the broker's office.
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