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Majestic's Administration Department processes both new and renewing sold cases, agent appointments with our various carriers, TPA (Third Party Administrator) approvals, as well as provides rating and clerical support for our underwriters.
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Sold Case Procedure
When a case is sold, a signed completed Application for the Excess Loss or Life Carrier, a signed completed Disclosure Statement, the first month's premium and the Premium Reporting Form* must be submitted. A completed carrier's appointment form** and a copy of the recipient's license** are required. Commissions will be payable upon receipt of this information.
Once received and approved by the underwriter, a Sold Case Package is generated by Majestic, including:
Majestic will issue the Excess Loss Policy following receipt and approval by the underwriter of all information requested. The Life Carrier will issue the Life Policy and Certificates, if applicable.
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TPA Approval and Appointment
To become an approved TPA, you will need to submit the following:
- Completed Third Party Administrator Questionnaire***
- Completed carrier appointment form**
- A copy of your resident state’s Agent and/or Agency License, as well as, for any other states**
- A copy of you resident state's Third Party Administrator License or Certification (where required) along with copies for any other states
- Certificate of Errors & Omissions Coverage
- Certificate of Fidelity and/or Crime Coverage
- Complete W-9 Form (if commissions are involved)
- Financial Statement
*We will accept the TPA's or Broker's standard form if it contains all the necessary information.
**These items are required to become appointed by the carrier; the appointment process can be handled prior to the sale of a case.
***We will accept a recently completed questionnaire submitted to another MGU or carrier if it contains substantially the same information.
Questions? Call (800) 428-8460, Ext 230 or
e-mail us at quote@majesticuw.com
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Premiums
Premiums are due on the first of the month for that month’s coverage. Payment may be in the form of:
- Check.
states** - Wire Transfer -- Please call our accounting department at
(800) 428-8460, Ext. 234 for wire transfer instructions.
A Premium Reporting Form must be completed and submitted with each month’s premium remittance. Please submit the form by:
- Mail (if paying by check or wire transfer):
Majestic Underwriters LLC
550 Stephenson Highway, Suite 407
Troy, Michigan 48083
or by:
- Fax (if paying by wire transfer):
(248) 577-6477
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Commissions
Commissions (if applicable) will be payable once the carrier appointment process is completed.
Additional Commission information is as follows:
- Payments are issued by the 15th of the month following the month in which Majestic receives the premium and the premium reporting form.
- Premiums can be submitted net of commissions.
- IRS Form 1099 will be issued to all non-corporate recipients if commissions total at least $600 in a calendar year.
Questions? Call (800) 428-8460, Ext 234 or
e-mail us at acctg@majesticuw.com
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