Letter Of Authority – Existing Building Insurance Policy

› Forums › The Professionals › Current Page

Create New Reply
  • Creator
    Topic
  • 02/01/2018 at 9:49 pm #11518 Reply | Quote
    kezza111

      I just found out that our recently appointed SM (coming from being self managed) sent a Letter of Authority to our existing building policy holder without advising the SC in writing.

      Our SM has forwarded renewal policies for our consideration that now includes her commission.

      When I attempted to get a renewal quote from our existing policy holder without this added commission, I was advised that they no longer manage our policy as our recently appointed SM has taken over due to the Ltr of Authority that [they] received.

      Our contract with this SM is a fixed amount with the insurance commission included as part of the deal.

      The SM has put forward 6 renewal policys..all more expensive compared to the current policy..by $800..which is about to expire.

      As a member of the SC, I thought that the SM should have advised us about the letter of authority to us.

      And secondly, we’re not able to get a renewal quote on a policy that we’ve had for years with the same people due to the change over in who is managing our current policy..the new SM.

      Should the SM be required to justify the price hike/commission amount?

    • Creator
      Topic
    Reply To: Reply #28966 in Letter Of Authority – Existing Building Insurance Policy
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

    You can use BBCodes to format your content.
    Your account can't use all available BBCodes, they will be stripped before saving.

    Your information:




    › Forums › The Professionals › Current Page