A Broker Transfer allows an existing Client to move from one book of business to another within the FormFire system. FormFire offers Brokers the ability to either use the Automated Broker Transfer option or have the authorized representative at a Client complete the online Broker Transfer form.
When the online Broker Transfer form is completed by the authorized representative at a Client, it will take two business days to complete, unless expedited by the outgoing Broker. This article will discuss how the authorized representative at the Client can complete the online Broker Transfer form.
First, the Broker logs into FormFire and selects Broker Resources. This is available on the FormFire Admin menu on the left-hand side of the screen.
Once on the Broker Resources page, the Broker will select Broker Transfer Request under General.
This link will open either a new tab or window on your browser.
There are 4 areas that the authorized representative needs to complete:
- Company To Be Transferred
- New Broker Information
- Current Broker
- Submitted By
Items that are required will be noted with an asterisk ( * ). Once complete, the authorized representative at the Client will sign and select the blue Submit Form button.
FormFire will the receive this information and process the transfer request. An automated notification is then sent to the Client's authorized representative, the outgoing Broker and the new Broker.
Once approved, the transfer will be completed in two business days. This mandatory waiting period, applied only to transfers completed through the online Broker Transfer form, is a courtesy to allow the outgoing Broker time to finish any outstanding business with the Client before the transfer takes place. Although we understand requesting Brokers may want immediate action, this waiting period cannot be bypassed unless the outgoing Broker expedites the transfer by selecting the associated link in the email notification as shown below.
If the outgoing Broker doesn't need time to tie up any loose ends, they can select the Expedite button, which gives the option to expedite or decline. If expedited, the transfer is effective immediately after the authorized representative at the Client has selected the Confirm Transfer link.