Question:

Do insurance policy cancellations for businesses get reported to credit reporting agencies?

by  |  earlier

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We are switching agents and renewing through the same carrier at the same time.

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   Report

3 ANSWERS


  1. If it is with the same company you should be transferring the policy from one agent to another.    You would not be cancelling the policy and writting a new one.;   If the agent is doing that I won't deal with him.   He is doing something wrong.


  2. Only if there's earned premium you need to pay, and don't.  

    It's a debt, just like any other debt.

  3. I agree with car. By doing changing agents and keeping the same company it is called changing you agent of record. You will probably have to sign something to this effect that will go to the insurance company. It is called a BOR (Broker of Record) letter.

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