Effective July 1, 2016 Monitor's Payment Options Have Changed

Monitor's goal is to make transacting business with us easy and efficient.

There are two payment options available:

  • Agency Bill - Account Current Payment Terms
  • Direct Bill to Policyholder - One Payment

All transactions that occur on July 1, 2016 and thereafter will be subject to these new payment options.

Agency Bill - Account Current Payment Terms

  • Individual invoices for each account will no longer be provided
  • At the end of every month, one billing statement will be sent to your agency/brokerage
  • The billing statement itemizes all transactions posted to your agency/brokerage during the month
  • The statement will include policies bound, cancellations and mid-term transactions
  • Payment of the full statement amount will be due in 30 days
    • For example, payment for July is due on August 30
  • Electronic payment is preferred: ACH or wire transfer

Direct Bill to Policyholder - One Payment

Direct Bill is the option for the insured to pay the policy premium directly to Monitor. This option will only be available to select retail agencies.

  • An invoice for the policy premium is sent directly to your client (policyholder)
  • The full amount of the premium is due 30 days from the effective date of coverage
  • Electronic payment is preferred: credit card, EFT or ACH
    • Policyholders who wish to pay by credit card can do so using the Monitor's Online Payment Center.
  • On excess and surplus lines placements, the producer is responsible for billing, collecting and filing of surplus lines taxes and fees.

Direct Bill is only offered for the following three coverages:

  • Employment Practices Liability
  • Executive Liability, ExecSuite®
  • Nonprofit Liability

Questions?

Contact Joe King
Monitor's Accounting Department
accounting@monitorliability.com
(
888) 787-5830