Agent Handbook

  1. We're Here to Help!
  2. Quick Reference Guide
  3. Customer Service
  4. Finance Agreements
  5. Additional Premiums
  6. Policies & Procedures
  7. Internet Access
  8. Reports, Notices, & Faxes

6: Policies & Procedures

Our goal at Atlas PFC is to support our Agent / Producers efforts and enable a simple, efficient and rewarding way To provide their clienst with flexible payment plans suite to their needs.

  • Payment Procedures
  • Hold Procedures
  • Cancellation Procedures
  • Reinstatement Procedures

Payment Procedures

Payments are credited to an account when they are received in our office. See Hold Process in this Section for infonnation on holding a cancellation on payments received by an Agent/Producer.

Please encourage Insureds to remit their payments to us with our pre-printed bills or coupons in the envelope provided to expedite the posting of the payments to their account.

Payments
  • To speed processing of posting payments:
    1. Please forward a separate check for each account noting the respective account number on the check. Sending one check to cover multiple accounts will delay the posting process.
    2. Please ask your Insured’s not to send cash to our office for payments. (Cashier's Checks, Money Orders, Personal Checks, and Business Checks are acceptable.)
  • Payments via regular mail should be sent to:
    Atlas Premium Finance
    P.O. Box 100129
    Ft. Lauderdale, FL 33310
  • Overnight express mail: If a rush payment is required, please forward to our physical address:
    Atlas Premium Finance Company
    1110 W. Commercial Blvd. #300
    Fort Lauderdale, FL 33309

    **For same day posting, please specify morning delivery.
Short Payments
  • A payment is short if it is materially less than the amount on the bill. A short payment may initiate or continue the cancellation process. However, prior to a cancellation the Insured will be notified (by mailed notice) of the shortage due.
  • If an Agent/Producer wants to place a hold for short payment accounts, the Agent/Producer may do so as described in the Hold Process Section.
Return Premium Credits on Endorsement Refunds
  • Return premium credits from an endorsement refund will be posted to the Insured's account, but do not act as a substitute for the scheduled payment.
Insurance Company Credits
  • At the Agent/Producer's or the Insured's request, we will reduce the monthly payment on an account because of an Insurance Company credit, but only after the credit has been received by Flatiron.
NSF Payments
  • All checks resulting in an insufficient funds (NSF) notice must be immediately replaced by certified funds or money order (including payments made to bring an account current for reinstatement requests) to avoid cancellation.
Claim Check Release
  • Occasionally, Atlas Premium Finance Company is named as an additional insured payee on claim checks issued while the finance contract loan balance is outstanding. Any claim check requiring an Atlas Premium Finance Company signature will not be released by Atlas unless an account is current.

Hold Procedures ("Stop Cancellation")

Holds are available through any of our Customer Service Representatives. Call toll free (800) 425-9113.
  • Agent/Producers in good standing may place a "hold" on their Insured's account. Holds may be placed on contracts only when in "Intent to Cancel" status. See Cancellation Procedures section below for definition of payment status.
  • A "hold" will not eliminate any late fees associated with the cancellation process. A hold will stop the Insurance Company cancellation notice from being mailed for a maximum of five (5) days.
  • Hold requests may come from the Agent/Producer or the Insured and are authorized only by a Customer Service Representative. They will be placed only upon Atlas’ determination that the Producer (or Insured) is not abusing the hold process. Although the cancellation notice may be forestalled, credit to the account is not applied until the money is received in the Atlas Premium Finance Comapny office. Placing a hold on an account does not prevent a late charge from being assessed (as defined by state-specific statutory requirements) to the account when an installment is considered past due.

Cancellation Procedures

  • Cancellations are processed Monday through Friday. If the cancellation falls on a weekend or holiday, the Notice of Cancellation will be mailed the next business day.
  • Unless otherwise requested, we will send the Agent/Producer's cancellation notices directly to the individual branch offices.
  • An example of the cancellation cycle is as follows (subject to state-specific regulatory requirements):
    Day 1: Payment Due (30 days after inception date of earliest policy) "Current" status
    Day 5: Last day for payment to be received without incurring a late fee -"Late" status
    Day 11: Notice of Intent to Cancel (with any applicable late charges applied) mailed to Insured -"Intent to Cancel" status
    Day 20: Last day for payment (or hold) before cancellation
    Day 20 (5pm): Cancel mailed to Insurance Company with effective date of Day 20 "Company Cancel" status

Reinstatement Procedures

If payments are made on an account in "Company Cancel" status which would bring it into "Current" status, the account is eligible for a request for reinstatement and Atlas Premium Finance will automatically send the insurance company a request for reinstatement (subject to state or policy restrictions). If the payment received which generates the request for reinstatement results in an NSF, the notice of cancellation will be immediately issued with the original cancel date effective, and any reinstatement request that was issued previously will be rescinded. See Section 9: Reports, Notices & Faxes.

NOTE: Honoring a request for reinstatements is solely at the discretion of the General Agent or the insurance company, not Atlas Premium Finance Company.