At our General Agent Partners Meeting, Dave Pauly and the Senior Management Team released several updates on new policies and procedures. This eBlast is one of a series that will cover the topics discussed, answering many of the questions posed during the meeting. The following points outline what is required for a BOR/AORletter to be considered acceptable, how Canal accepts that letter, and other requirements for current and future accounts with Canal.
Criteria for acceptable BOR/AOR letters:
  • Must be on the insured’s company letterhead
  • Addressed to Canal Insurance Company
  • Must be dated
  • Must reference existing Canal Policy Number(s) and Lines of Coverage
  • General Agent’s name and Retail Agent’s name must be indicated
  • Effective date of change must be included
  • Must be signed by the insured’s owner, company officer or president and include the signatory’s title
Process for Accepting a BOR/AOR letter:
  • Underwriter confirms all 7 criteria are met
  • Underwriter notifies the new General Agent that the BOR/AOR is acceptable
  • Underwriter notifies the old General Agent that Canal has received a BOR letter
  • Underwriter will provide a letter to the old General Agent indicating they have 5 courtesy business days to secure a rescinding BOR/AOR letter
  • This notice is a courtesy, and is entirely at the discretion of Canal
  • Underwriter simultaneously notifies the new General Agent that the BOR/AOR letter will not be recognized 5 business days to allow the old General Agent the opportunity to attempt to secure a rescinding BOR/AOR letter
  • When 5 business days have passed without receiving a rescinding letter, the underwriter notifies the new General Agent that the BOR/AOR letter has been accepted, and the quote process will continue with the new General Agent’s **complete** submission information for Renewal of New Business
  • If a rescinding letter is received within the 5 business day time period, the underwriter will notify the new General Agent that Canal has received a rescinding letter and the existing General Agent remains the BOR/AOR
Conditions/Rules:
  • Only one rescinding letter will be accepted
  • Mid Term BOR/AOR letters will not be accepted
Click here to submit your BOR/AOR letter.

QUESTIONS:For general questions regarding these changes, please contact AVP of Marketing and Business Development Jarrell Hall 864.242.5365 x. 5485.
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400 E. Stone Avenue, Greenville, SC 29601
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This document and all contents herein is for the exclusive use of Canal Insurance and its contracted General Agents and their employees and shall be considered as proprietary, confidential business trade secrets of Canal Insurance Company.
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