Transfer of Business
In order to complete a transfer of business, you must first decide which type of transfer is applicable (single policy transfer, multiple policy transfer or global transfer), then fill out the Transfer of Business form.
The agent assuming the book of business should also verify that the agency shown in SLIP is correct. If no selection has been made, please select an agency. If the Selected Agency field is blank, the transfer will fail. This information can be found in the User Admin section of the Settings tab.
Please note: Relinquishing agents need to update their information on file in SLIP in the Settings and User Data sections of the User Admin tab. If a SLIP transaction report is used for reconciliation purposes prior to the end of a quarter, the relinquishing agent will need to run the transaction report prior to the transfer date. Once the transfer has taken place, the transferred transactions will no longer appear on the relinquishing agent's transaction report.
A single policy transfer can also be initiated by a Broker of Record (BOR). In order to transfer a single policy initiated by a BOR and its associated transactions to the agent assuming the policy, an email along with a copy of the BOR must be sent to FSLSO. Upon verification, the transfer will be made.