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Broker of Record Procedure for New and Existing Accounts

  1. Producer/Client provides the following:
    • Account Information including Carriers, Policy Types, Policy Numbers, and Policy terms
    • Signed BOR
    • Copies of current policies or applications (if available)
  2. Marketing/AE receives request from Producer/Client and verifies the following:
    • We are an authorized agent of the carrier.
    • BOR will be accepted by the carrier. Some carriers do not accept mid-term BORs or the client may not be in good standing with the carrier.

Once verified, the BORs are to be filed with the carrier(s)/wholesaler(s), as outlined in the EPIC workflow.
NOTE: There are three types of BORs:

Click here for the BOR Generator.

  1. Client BOR: allows SterlingRisk to service an existing policy.
  2. Market BOR: allows SterlingRisk to work with a specific market for marketing purposes.
  3. Wholesale BOR: allows SterlingRisk to negotiate renewals with a specific wholesaler.

Refer to the links, mentioned above, to use the appropriate BOR form.