I didn’t receive the ACH transactions, and I know I sent in some applications last month. What happened?Published on: May 22, 2023
Commission will be paid on the later of: 1) the effective date of the issued policy and/or endorsement effective date, or 2) the process date (if a policy is in an issued state and not a binder).
- Today is May 1. A policy has been issued with an effective date of June 1. The commission for this policy would be reflected on the June commission statement, and included in the June ACH payment.
- Today is June 15. A policy application was processed and effective on May 1, but put under a 60-day “binder” due to missing underwriting information, e.g., no WPI-8/WPI-8-E/WPI-8-C exists for a re-roof indicated on the application. The missing information is provided 45 days later, on June 15, and the policy is issued. The commission for this policy would be reflected on the June commission statement, and included in the June ACH payment. Note: To view your policies and their status, please log in to the TWIA Agent Portal system and select “Policy” from the menu at the top of the page. You may view your list of existing policies and their status. Policy applications that are in “Return Application” status are under binder and not in an issued status.