Transferring Policies From One Retail Agency To Another Retail Agency

Retail Agencies sometimes sell or transfer their book of business to another Retail Agency, or an Insured might transfer their policies to another Retail Agency. This tool allows BindHQ to update those records.

Last Updated: December 2020

Applies to:

  • Producers / Underwriters
  • Assistants
  • Managers

In order to transfer a Retail Agencies book of business to another Agency, you must perform the following:

  1. To initiate a transfer go to the Administration menu. Locate the area labeled ‘Tools’, then select ‘Batch editing – Agency Transfers.

  2. Filter the list of source policies by Agency and refine results by targeting policies within a particular state or associated with one Carrier.

  3. Select the desired policies that need to be transferred or use the ‘select all’ button to choose all policies that meet the criteria and then click on the action button to ‘Transfer to another agency’

  4. An agency transfer endorsement will be generated. The policy transfer will now associate any new endorsements with the new agency. At renewal, the user will be prompted to select the agent assigned to the agency.  Any transactions booked prior to the transfer will remain with the original agency.