Insurance Broker Agreement Sample

Producer may not act as an underwriter or broker (dual broker) for applicants or policies signed under this Agreement without giving written notice to Quadrant and Quadrant`s prior consent to such agreements. This Agreement applies to the insurance products and programs reviewed below offered by Quadrant during the effective date of this Agreement. Please indicate the estimated reward and the number of accounts you plan to submit to Quadrant. The producer accepts the budget listed below as the minimum eligible performance standard to maintain access to Quadrant products. The producer is an independent contractor and not the agent of Quadrant or any of its clients or insurance companies. Quadrant is the sole judge as to whether all risk insurance claims submitted by the manufacturer are accepted, rejected or submitted to the insurer for acceptance, and assumes no responsibility for failure to take such risk. The Producer is not authorized to bind an insurer to Quadrant or to make statements that are not made strictly in accordance with the provisions of the policies and contracts placed under the terms of this Agreement. The Producer may not establish, modify or modify the terms of coverage, modify the terms of payment of any Reward or Deposit or accept any responsibility for Quadrant. Quadrant does not recognize a lump sum cancellation unless: (1) written proof of coverage prior to the commencement of the insurance contract; and (2) this credit was granted to Quadrant by its insurer. The premium earned will be calculated and applied to any file, policy or contract cancelled after the date of incorporation in accordance with the termination provision of the applicable contract and/or the rules of the insurer.

If the Producer fails to pay the amounts due to Quadrant on time, Quadrant may, without limiting other remedies, order the Insurer to terminate the file, policy or contract for non-payment. If the coverage is linked to Quadrant, any additional fees charged by Quadrant for the entire term of the contract will be fully earned with the commitment. Producer hereby acknowledges that Quadrant or its insurers have no obligation to reinstate any Policy if the Policy is terminated. The producer does not accept late payment of premiums from the insured with real or constructive prior knowledge that the policy for which the delayed premiums have been collected will be cancelled. Producer will promptly notify Quadrant of all claims, suits and notices of loss (or circumstances that can reasonably be expected to result in a claim, suit or notice of loss) and will fully cooperate with Quadrant to facilitate the investigation and adjustment of claims if and as requested by Quadrant. All claims must be notified by written notice to the address in accordance with the statement page of the insurance policy. Upon signing this Agreement, or at a later date, Producer will provide Quadrant with proof of Producer`s license as an insurance broker or insurance agent, if such license authorizes insurance brokerage activity, for each state in which Producer carries on such activities, as Quadrant may reasonably require. Such requested evidence may include, but is not limited to, a copy of such license or certification from the issuing state, name, address, Internal Revenue Service identification number, social security number, state of residence, and a list of all other states in which the producer operates. Notwithstanding anything to the contrary in this Agreement, Quadrant has the right, in its sole discretion, to terminate any records, policies or insurance contracts issued under this Agreement in accordance with the cancellation policy of such record, policy or contract. The premium earned will be calculated and charged for each contract terminated after the start date in accordance with the cancellation provisions of the contract and/or the rules of the insurer. If The Producer fails to pay the amounts due to Quadrant on time, Quadrant may, without limiting other remedies, terminate the Policy for non-payment of the Premium.

The producer agrees that if the coverage is bound by Quadrant, a fee will be charged in accordance with the terms of the insurance. The Producer hereby warrants to Quadrant that the Producer is qualified to carry on business in any state where the Producer`s activities require such qualification and that the Producer holds an agent or broker`s license in accordance with the laws, rules and regulations of the state or states in which the Producer operates. .