How to Cancel Existing Contracts with Carriers

[Raider123]

I have left my IMO and was told I need to contact each carrier I am contracted with to let them know. I know if filled out a lot of contracting paperwork but was only contracted with a few companies because some wanted a piece of business before sending contracting paperwork in.

Would I still need to contact those companies where the paperwork was filled out but I was never officially contracted?
What is the easiest way to find out which companies you are contracted with? Is it on any state insurance site?

 

[shonceman]

Some states, but not all, will show your appointments on the DOI website. I find it's usually easiest to go to the consumer info section where they will usually have a link that says "Agent Lookup" or something to that effect. Once you've found yourself on that database, there may be another link to show your current appointments.

 

[JustinSane]

I have left my IMO and was told I need to contact each carrier I am contracted with to let them know. I know if filled out a lot of contracting paperwork but was only contracted with a few companies because some wanted a piece of business before sending contracting paperwork in.

Would I still need to contact those companies where the paperwork was filled out but I was never officially contracted?
What is the easiest way to find out which companies you are contracted with? Is it on any state insurance site?

In some cases, it depends on who the IMO was. Some IMO's can get nasty (and unethical) and refuse to release you, even if you haven't written business with a particular carrier. Usually, the only way around this situation, is by waiting 6 months from last business written (or date contracted, if no business was ever written).

On the other hand, some IMO's, including many on here, are very good about releasing agents in your situation.

I do know, that if you were with NAA, they will NOT release you under ANY circumstances, and some carriers require 12 months waiting period, not 6 months (which is ridiculous, in my opinion).

Hope this helps.

 

[Raider123]

I am a little confused as to whether I have to contact each insurance company to cancel my appointment with my former IMO or me just not writing business with them gets the clock ticking.

 

[CALTCAgent]

I am a little confused as to whether I have to contact each insurance company to cancel my appointment with my former IMO or me just not writing business with them gets the clock ticking.

Just don't write any business gets the clock ticking.

 

[Josh]

Just don't write any business gets the clock ticking.

With a few exceptions. Best thing to do is to call each carrier and ask them what you should do.

 

[Mark]

I am a little confused as to whether I have to contact each insurance company to cancel my appointment with my former IMO or me just not writing business with them gets the clock ticking.

With most companies, you can just wait 6 months without writting business and go with another IMO.

But if you want to cancel your contract, just write a letter to each company.