Common use of Change to Agent of Record Clause in Contracts

Change to Agent of Record. Individuals may notify the Exchange of an Agent delegation change. The Exchange shall send notice of the delegation change to the Contractor via 834 maintenance file. Upon receipt of the notification, Contractor shall approve the delegation (unless an Agent is not licensed or not appointed), and has five (5) days to update their system to reflect this change upon receipt of all required information from the Exchange. Contractor shall notify the existing Agent of the delegation change within ten (10) business days. The Contractor shall send an Agent of Record Exception Report which includes any changes the Exchange requested, but were not made, if requested by the Exchange. The Exchange recognizes that Contractor may contract with insurance agencies who employ or contract with Agents. The Exchange further understands that Contractor may delegate an employed or contracted Agent writing business for the benefit of an Agency.

Change to Agent of Record. Individuals may notify the Exchange of an Agent delegation change. The Exchange shall send notice of the delegation change to the Contractor via the 834 maintenance file. Upon receipt of the notification, Contractor shall approve the delegation (unless an Agent is not licensed or not appointed), ) and has five (5) days to update their system to reflect this change upon receipt of all required information from the Exchange. Contractor shall notify the existing Agent agent of the delegation change within ten (10) business days. The If requested, the Contractor shall send an Agent of Record Exception Report which includes any changes the Exchange requested, but were not made, if requested by the Exchange. The Exchange recognizes that Contractor may contract with insurance agencies who employ or contract with Agents. The Exchange further understands that Contractor may delegate an employed or contracted Agent writing business for the benefit of an Agency.