Broker Selection

Broker Responsibilities

Submission Guidelines

Broker Commissions

 

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    Broker Guidelines

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.
    • Singlepoint's Supplemental Application Form.

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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