Singlepoint’s network of producing
brokers is an exclusive one. Singlepoint seeks producing
brokers who sell quality and service rather than ones who
compete solely on price.
Broker
Selection
Our criteria for selecting producing brokers are as follows:
- Experienced management team with specialized knowledge
of workers’ compensation.
- Shared philosophy of providing value-added services.
- Moderate size (on average $1 million to $50 million
premium writings).
- Ability to produce a reasonable level of workers’ compensation
business (i.e., submit 20 or more prospects per year
and bind $200,000 or more of written premium annually).
Qualifying producing brokers are invited to be appointed
by Singlepoint. Documents necessary to qualify producing
brokers include:
Submit these documents to:
MAIL TO:
Marc Win
President
Singlepoint Insurance Services, Inc.
5000 Hopyard Road, Suite 328
Pleasanton, CA 94588
FAX TO:
925.416.2051
Attention: Marc Win
E-MAIL TO:
mwin@singlepointins.com
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Broker
Responsibilities
Producing Brokers have no binding authority and shall
act only in the exclusive capacity of an "Insurance Broker" as
defined by Section 33 of the California Insurance Code.
Coverage can only be bound by Singlepoint after Singlepoint
has received authorization to bind from its underwriter
(e.g., Insurance Company
of the West).
At a minimum, Producing Brokers are responsible for:
- Evaluating the exposures and needs of their clients.
- Sending written instructions, requests, and applications
to Singlepoint.
- Reviewing policies with their clients so as to determine
accuracy and adequacy of coverage provided and assisting
clients with any changes in the policies that may be
necessary or desired.
- Providing Singlepoint with policy change requests and
renewal instructions.
- Issuing standard ACORD Certificates of Insurance and
sending them to Singlepoint within five working days.
- Maintaining current agents' and brokers' errors & omissions
insurance with limits of no less than $1,000,000 per
claim and $1,000,000 annual aggregate.
- Maintaining current California Fire & Casualty
Broker-Agent License.
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Submission
Guidelines
The following are needed in order to expedite underwriting
and provide the most competitive premium quote possible.
Required:
- California-only exposures.
- Workers’ Compensation
Application (ACORD 130). This form
must be signed by insured in order to bind coverage.
- Detailed description of the insured’s operations.
- Bureau Inspection and Bureau XMOD Sheet when estimated
annual premium is $100,000 or more.
- Four-week lead time.
- Five-year hard copy loss experience (valued within
90 calendar days of effective date).
- Description of any claim over $25,000
- Five-year summary of payrolls and premiums.
- Current Bureau XMOD worksheet.
- Singlepoint minimum premium:
- $25,000
or more of estimated annual premium.
- Singlepoint's Supplemental
Application Form. This form must be
signed by insured in order to bind coverage.
- $50,000 or more of
estimated annual premium for contractors (other than
artisan contractors and
landscape contractors).
- $40,000
or more of estimated annual premium for artisan contractors.
- $25,000 or more of estimated annual
premium
for landscape contractors.
Desired:
- Commercial
Insurance Application (ACORD 125).
- Five-year hard copy loss experience (valued within
60 calendars of effective date).
- Current CompLine XMOD history sheet.
- Bureau Inspection.
- Target premium.
- Target quote date.
- Four-week lead time.
- Transmission of submission by e-mail.
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Broker
Commissions
We have no predetermined schedule of commissions because
rate of commission varies based on underwriter and premium
level. However, generally speaking, here is what one might
expect under favorable conditions:
| Premium |
All Carriers |
$500,000
and Less |
10.0% |
Over
$500,000 |
TBD |
NOTE: In order to receive commission from
us, you must be an appointed Producing Broker.
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