Chronos Agent of Record Procedure

  1. Submit AORs to
  2. CHRONOS does not accept mid–term Agent of Record (AOR) letters due to the inherent accounting, audit and E&O problems that can develop, especially when the retail agent changes. Any exception to this procedure requires prior approval of the CMO, Division CEO or President. CHRONOS only acknowledges Agent of Record from appointed producers.
  3. AOR letters are to be on the Insured’s letterhead, dated and signed by an officer of the company with the officer title shown. The AOR should recognize the retail agent and CHRONOS. The AOR must be accompanied by a complete submission, otherwise CHRONOS will not quote to the new agent.
  4. AOR LETTERS MUST BE RECEIVED GREATER THAN 10 DAYS PRIOR TO THE NATURAL EXPIRATION DATE. If the expiration date is greater than ten (10) calendar days away, give the existing CHRONOS agent five (5) calendar days to rescind the letter. If the expiration date is ten (10) calendar days or less away, no AOR will be accepted. For example: CHRONOS receives on or before 12.21.2017 an AOR and submission for an account with an effective date of 1.1.2018. The AOR will be acknowledged and 5 day rescission period allowed. If AOR is received on 12.22.2017 or after (i.e.10 days or less), the AOR is not accepted.
  5. Upon receiving a properly executed AOR, immediately notify the existing CHRONOS agent of the receipt of the AOR, date produced and the signing party. You may send the AOR to the existing agent. By e-mail to the “new” agent, CHRONOS should acknowledge receiving the AOR and advise them of the rescission period. Should this involve two different CHRONOS underwriters, they should immediately communicate with one another.
  6. RENEWALS are considered clear to the incumbent retail agent and WILL NOT BE MOVED to an AmRisc wholesaler agent. Moving the account reservation to a new retail agent will require a properly executed AOR letter as described above. Notification of the 5-day BOR rescission period as described above should only be communicated by the CHRONOS underwriting team to the incumbent retail agent. This maintains our longstanding incumbent RENEWAL protection for CHRONOS agents.
  7. Quoted terms and conditions are based on data from each submission in isolation and the account’s terms and conditions can change with any subsequent submission.
  8. The CRITICAL issue is that both CHRONOS agents be advised of the rescission period and its expiration. CHRONOS should not discuss any details of the account in the interim. It is equally critical that all CHRONOS underwriters communicate throughout.
  9. It is necessary to get a complete submission from the new agent to cover CHRONOS’s E&O requirements. Check to make sure the new information matches or amend the quote accordingly. The quote to the new agent should be based on the info submitted by that new agent.
  10. Should the underwriter have questions regarding the procedure or a particular account, please seek the advice of the CMO, Division CEO or President. Communicate and act in a professional manner with customers and one another, and most problems will be avoided.

CHRONOS is the sole interpreter of the above procedure and reserves the right to revise or adapt the above procedure as circumstances dictate. These exceptions will require prior approval of Division President, Division CEO or Chief Marketing Officer.

The most current update (even if not yet published) will prevail. Last Updated 1.29.2018

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