Doing business the RIGHT way is the only way to do business. Americo is committed to helping you build your business in a compliant and ethical manner. Please review the important home office and state notices below.
Home Office Notices
Prohibited Practices Reminder
In no instance does Americo allow for agents to pay initial or reoccurring premiums for clients out of the agent's bank account. Agents who pay for clients' premium could be subject to termination.
eApplication Signature Reminder
As a reminder, if you are using their eApplication and select 'tablet signing', the signor (proposed insured, owner, or payor) must sign the application directly using the tablet. Full signatures are required, initials are not sufficient. If you are using 'remote signing', the person(s) named as Owner, Insured (Primary or Additional), Payor all must sign for themselves.
As with the traditional paper process, you cannot sign for the client under any circumstance. Signing for a client is fraud, even if it is an electronic signature. Americo does not authorize you to sign for clients even if the client has given you verbal or written authorization to do so. Agents found signing for clients will be subject to termination.
State Specific Notices
Arizona Notice Concerning Insurance Inducements
Arizona has amended Section 20-452 relating to transaction of insurance business with regards to inducements. This Act increases the monetary value of prizes, goods, or tangible property that an insurer may offer in connection with an insurance transaction from $25 to $100. More Information
Oklahoma Notice Regarding Rebating
As a reminder, rebating is prohibited in Oklahoma. Rebating is a prohibited practice as outlined in Section 1204.8(a) where "Except as otherwise expressly provided by law, knowingly permitting or offering to make or making any contract of insurance or agreement as to such contract other than as plainly expressed in the contract issued thereon; or paying or allowing, or giving or offering to pay, allow or give, directly or indirectly as inducement to any contract of insurance, any rebate of premiums payable on the contract, or any special favor or advantage in the dividends or other benefits therein, or any valuable consideration or inducement whatever not specified in the contract; except in accordance with an applicable rate filing, rating plan or rating system filed with and approved by the Insurance Commissioner...". More Information
Pennsylvania Notice Regarding Rebating
Pennsylvania passed legislation that now allows insurance companies, associations, exchanges, and representatives of those organizations to give an insured or prospective insured, on an annual aggregate basis, any favor, advantage, object, valuable consideration or anything other than money that has a cost or a redeemable value of less than or equal to $100, which is not specified in the insurance contract. Prohibits insurance producers from making receipt of anything of value contingent on the purchase of insurance. Allows the commissioner to increase the amount allowable via publication of notice in the Pennsylvania Bulletin. More Information
Client Email Addresses Benefit You
When filling out applications, be sure to fill in your client's email address. This will allow Americo to better service your client's policies in the future. This will help you keep business on the books and maintain your placement, help prevent chargebacks and keep more money in your pocket. All of which counts towards your UFirst Bonus qualifications.
Attachment Size Limit
As a reminder, when emailing documents to Americo, please keep the file size under 10 MB. Emails with larger attachments may not be delivered to Americo. If you have large file sizes try to reduce the resolution, scan the document in black and white instead of color, or save the file as a PDF. You will receive an automated email response confirming they received your email.