- AGENT
The agent submitting applications to RAS is the representative of the Insured, and is not an agent of the Insurer.
- QUOTING
The Robert A. Schneider Agency (RAS) is a Managing General Agency and an Excess/Surplus Lines Wholesaler. We market our products to all licensed, property casualty agents. Our goal is to assist retail insurance agents in placing accounts that the agent’s contracted insurance carriers are unable or unwilling to write.
Upon receipt of a completed application from an insurance agent, the application will be reviewed to determine if we are able to offer a quote. We reserve the right to decline quoting to any agent or decline any single risk. Under no circumstances are we obligated to offer a quote.
We represent specialty insurance carriers. The premiums they offer tend to be higher than those of an agent's contracted carrier. In addition the coverages offered may also be less than what the agent's contracted carrier may offer.
RAS will offer a quote based only on a completed application. A verbal estimate of our capabilities is not a binding quote. Once a quote is offered it may not be bound unless accepted in writing by an RAS Agency underwriter. RAS is not bound to bind a quote if the underwriter has reason to believe the risk has changed since the written quote was offered. Also, RAS is not required to bind the written quote if the conditions provided have not been met. Quotes are valid for 30 days unless otherwise specified.
- BINDING
In all cases, it is the agent's duty to represent their client and review all quotes offered in detail. RAS may not have offered or be able to offer the coverages requested in the application. RAS never extends binding authority to its agents. Due to the nature of Managing General Agents/Excess Surplus Lines Wholesaler's contracts with its insurance carriers, additional coverages or higher limits cannot be assumed to be automatic. It is the responsibility of the agent to contact RAS with a request to add or increase limits. RAS may or may not have the authority to do so without first obtaining permission from the insurance carrier.
- ASSIGNMENT
This policy/certificate cannot be assigned to another without the written consent of the Insurer.
- AUDITS
Many policies are based on factors that are auditable, and the premium is amended accordingly. The agent should review this policy with the Insured, and point out those auditable provisions. Agents are responsible for collection of audit additional premiums and forwarding them to RAS within 30 days, per the audit billing notice.
- CERTIFICATES OF INSURANCE
The agent may not release any Certificates of Insurance without the written consent of RAS. If the Insured needs a certificate, they should contact their Agent, who may arrange issuance or permission from RAS in writing.
- COVERAGE
This policy may not be as broad in scope as the policy it is replacing, nor the coverage requested. The policy is issued to reflect the coverages as quoted by RAS to the agent. Great care should be exercised by the agent in reviewing coverages with the Insured to point out areas that differ from similar policies or the original request of the Insured to the agent.
- ENDORSEMENTS
Additional coverage, revisions, change in hazards, change of exposures, revised operations, etc., are subject to acceptance by the Insurer on the policy. Generally all revisions are subject to the same procedures, terms, and conditions applicable to the original placement, unless the policy specifies otherwise. This policy can only be endorsed by RAS or the Insurer, and must be in written form. The agent has no authority to amend the policy.
- FINANCING
If the policy is financed, RAS is not a party to the finance agreement. All premium finance contracts must be set up showing the actual insurer's name. The agent is responsible for advising the Premium Finance Company of any charges to the policy, in addition to earned premium provisions.
- FORMS SIGNED & RETURNED
The policy may be delivered with certain forms that must be signed by the Insured and returned to RAS. These forms are provided in the policy as well, and become part of the policy. It is important that the agent have the Insured sign and return these forms promptly to avoid the circumstances of a policy cancellation notice being sent.
- PREMIUM OBLIGATIONS
RAS does not have any contact with your clients. Once coverage is bound, the agent becomes responsible for any monies the RAS Agency has been obligated to pay the insurance carrier as a result of the agent's request for RAS to bind an account. The agent or agency that contacts RAS for a quote is always treated as an independent contractor.
Most of the carriers we represent do not allow for flat cancellations. Once you bind an account with RAS, you become responsible to RAS for any monies due to its carriers regardless of whether the amount due has been collected from your client or not.
We strongly encourage that a down payment always be collected. RAS may or may not require a down payment. RAS will bill by invoice or account current. In many cases a down payment may be required in order to bind (this may be a requirement of our carriers in order to bind).
RAS offers premium financing on most accounts. If your clients desire premium financing, RAS encourages using its premium financing company. Some outside finance companies are less diligent in reporting late payments. By using premium financing, your client gives the finance company power of attorney. As a result, the finance company has the legal right to request cancellation of policy. With delays in mail, etc. your client may not have time to make a past due payment in time to keep the policy in force. Many insurance carriers will not reinstate a policy once it has been cancelled. Monitoring late payments is made easier when working through RAS.
In the event that your client's check does not clear, RAS will do all it can to have the insurance carrier we represent keep the finance charges to a minimum and will pass on any savings to you.
- OWNERSHIP OF ACCOUNTS
Robert A. Schneider Agency, Inc. does not write business directly with insured clients. All business of RAS is the result of working with a retail/independent insurance agent. We require that all agents maintain proper insurance licenses, that clients' monies are handled in trust as required by state law and that each agency carry errors and omissions insurance. All accounts are the sole property of the agent placing business with RAS.
- CLAIMS
You, the agent, should facilitate the handling of claims to the best of your ability. If your client reports a claim to your office, a written Notice of Loss should be completed. Generally, the carriers we represent require a written Notice of Loss. The Notice of Loss should be emailed or faxed to RAS upon completion. In the instance of a serious loss (generally involving bodily injury) we encourage immediate reporting by any means possible. Our web site provides emergency claim reporting phone numbers for most of the carriers we represent.
In the event a loss occurs after business hours or during the weekend, you and the insured should do whatever is necessary to prevent further damage. This may include seeking assistance from local authorities or hiring contractors to do what is needed to protect property and prevent further damage. Report a loss as soon as possible and advise what has been done, if anything. This condition is written as part of the policy. A local claims adjuster may be hired to help with this process. If you have any questions regarding claims please call RAS.
