Agency Transfer: Difference between revisions
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| '''New''' | | '''New''' | ||
| Policy | | Policy | ||
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| Carrier | | Carrier | ||
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| '''New''' | | '''New''' | ||
| Carrier | | Carrier | ||
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| Agent | | Agent | ||
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Revision as of 13:53, 25 February 2025
Due to the manner in which NFIP policies are issued and managed, specific protocols must be followed when policies are being transferred between agencies or agents. Failure to understand and follow these protocols may cause unnecessary work and cost when managing your NFIP policies.
| Policy Assignment |
An agency transfer is different than transferring policies between policyholders, which is known as policy assignment. The tables below compare Policy Assignment only for the purpose of differentiation.
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| 1. Policy Assignment | 2. Policy Transfer | 3. Rollover | 4. Agency Transfer | ||||
|---|---|---|---|---|---|---|---|
| Current | Any Change? | Current | Any Change? | Current | Any Change? | Current | Any Change? |
| Policy | Same | Policy | New | Policy | New | Policy | Same |
| Carrier | Same | Carrier | New | Carrier | New | Carrier | Same |
| Agent | Same | Agent | New | Agent | Same | Agent | New |
| Insured | New | Insured | Same | Insured | Same | Insured | Same |
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This page contains information about the NFIP. Find more NFIP Resources. |