Frequently asked questions

Accounting

Why do the invoices have different payment terms?


Most invoices are due the 15th of the following month, however; brokerage policies and audits have different payment terms and must be collected much sooner to meet the carrier's requirements. Each invoice will state the timeline it is due.




Can you send funds back to the insured directly?


No unfortuently we are only allowed to send funds to the agency and the finance company.




Can the insured pay on your epay site?


We only accept payments from the agency and the finance company.




Where can I overnight a payment?


Overnight Address:

Lockbox Services 603816

1525 West W.T. Harris Blvd.-2C2

Charlotte, NC 28262




How much does it cost to pay with epay?


Epay is 3.25% for Credit cards and $3 flat for ACH. You can pay multiple invoices in one transaction.




When do I get my commission checks?


All agency bill policies should be paid net of commissions so we never receive them from you. If you pay gross there may be a delay in sending funds back to you. For Direct Bill policies all commission checks are sent out monthly. We only send the commissions once we have received them from the carrier.




I have a credit balance on my statement; what do I do?


A net credit statement amount does not mean everything on the statement will automatically be paid. Please email ARCLT@hullco.com to have your credits applied to other outstanding insureds.




I made a payment through epay but it is still on my statement, why?


If you have made a recent payment through our online payment system, it does take a few days to process. Although we can see that you have paid, it will not reflect payment on this statement until it is processed. If you have any questions about payment received, please do not hesitate to ask.




Is everything on my statement due on the 15th?


Although the statement states “due on 15th, there are various due dates for each invoice. Please refer to the due date on your invoice received with Binder. If payment is not received by that due date shown on the invoice, it is considered past due. We will not be held responsible for paying overnight charges to get a payment to the carrier because it was paid late by your agency.




How do I request a check for return premium or a credit on my statement?


Please use the link below to request any checks that you cannot take on your statement. Checks are only issued by request. You can also use the link to send funds directly to the finance company.

https://www.hullcharlotte.com/refundrequest




Who receives the return premium when a policy cancels for non-payment of premium to the finance company?


The credit for the return premium will appear on your agency’s next billing statement. To request a return premium check be released to the finance company on your behalf, please use the following link: https://www.hullcharlotte.com/refundrequest





Underwriting

Direct Bill Renewal Process


The policyholder will be invoiced 45 days prior to expiration. This quote is for informational purposes only; do not bill or collect payment.

This renewal will be invoiced with 2 payments.

Please advise as soon as possible if changes are needed or if optional coverage is desired.




When is something pro-rata vs short-rate cancelled?


If a policy is cancelled by the company, the RP will be calculated on a pro-rata basis. If the insured requests cancellation, the RP will be calculated on a short-rate basis. Non-payment of premium is NOT considered the company's request.




Why did I get a DNOC for an account, I mailed the check to you.


You must give ample time for a check to arrive at Hull & Company and for us to transfer funds to the carrier. Mailing the check may take up to a week before arriving and getting posted. Then the funds need to be sent to the carrier. The fastest option is to pay with Epay to ensure a policy does not get a DNOC.




I have questions about what to put for Named Insured.


The link below will give you additional information on what to consider for Named Insured. https://www.hullcharlotte.com/named-insured