GETTING STARTED WITH ROANOKE UNDERWRITING

What You Need to Know

Commercial Marine Insurance

What commissions do you pay?
Our commissions range from 15-20 percent depending on the book of business. Many times we will include a sliding scale.
What is required to become a producing agent? How long does it take?
In order to become a producing agent one must complete the producer questionnaire and agreement form, provide a copy of current E&O insurance and a copy of current insurance license. Processing is completed within 2-5 days.
Can I receive a quote without being a producing agent?
Yes, we will provide quotes to non-producing agents. However, prior to binding any business the producing agent must complete the process noted above.
How are commissions paid?
Customarily, we invoice your office net of commission.
What insuring carrier will the policy be issued under
 Our insuring paper is 100% Munich Re Syndicate Limited – Syndicate 457 at Lloyd’s, one of the largest marine insurance underwriters at Lloyd’s and managed by Munich Re Underwriting Limited.
How long does it take to receive a quote?
Quotes are usually turned around within a 1-3 day window depending on the risk type (provided that all pertinent information has been received).
Is this a surplus lines market?
Yes our Lloyd’s of London paper is considered surplus lines.
Do I have to have a surplus lines license in order to write business with Roanoke Underwriting?
Yes, our producing agents should have a surplus lines license and follow state insurance regulations. We can make accommodations whilst you are in the process of obtaining the necessary license.
Who files the surplus lines tax?
The producing agent is responsible for all surplus lines taxes, fees, or other regulatory filings.
How are claims filed?
Claims are filed directly with Roanoke Claims Services.

Surety Bonds

What commissions do you pay?
Our commissions depend on the book of business and service requirements.
What is required to become a producing agent? How long does it take?
In order to become a producing agent one must complete the producer questionnaire and agreement form, provide a copy of current E&O insurance and a copy of current insurance license. Processing is completed within 2-5 days.
Can I receive a quote without being a producing agent?
Yes, we will provide quotes to non-producing agents. However, prior to binding any business the producing agent must complete the process noted above.
How are commissions paid?
Customarily, we invoice your office net of commission. However, if you would like us to bill your client direct, we pay commission to your office after payment is received from the client/bond principal.
What types of bonds do you write?
We write bonds related to transportation, including all Customs bond activity codes, airport security bond, SDDC bonds, OTI bonds, ATA Carnet bonds, property broker and miscellaneous transportation type bonds.
How long does it take to file a bond?
For Customs bonds, it depends on the bond size and if the bond principal is set up in the CBP system. Most CBP bonds are at the minimum and underwriting requirements are minimal. With eBond, we can have a bond on file in less than a minute as long as the principal is set up with CBP.
For OTI and property broker bonds, we can get those on file within one business day.
What surety do you work with?
Our surety is American Alternative Insurance Corporation (AAIC), a Munich Re company. AAIC is rated A+ (Superior) by A.M. Best and the Treasury Listing is $16,892,000.
What types of reports can you provide for a customs bond principal to manage their business?
We receive data from Customs & Border Protection through the Automated Surety Interface. This data includes entries, bills and liquidated damage claims. We provide specialized reports that will be sent to bond principals based on their needs and specified criteria.
Do you provide training?
Yes, we have an online training tool and conduct training webinars for our clients. Our goal is to build successful partnerships with independent agents and brokers.

ATA Carnets

What is an ATA Carnet?
An ATA Carnet is an international customs document that provides duty and tax free customs clearance for temporary imports into foreign countries. ATA Carnet simplifies the entry by eliminating the need to post some form of financial guarantee, i.e., a Temporary Import Bond. ATA Carnets are recognized in over 100 destinations for virtually all types of goods, whether hand-carried or cargo-shipped.
How does an insurance agent obtain an ATA Carnet for their customer?
It is very easy to obtain an ATA Carnet. An insurance agent can simply apply online using our easy application system CarnetsOnline™ or call our ATA Carnet Help Desk at 1.800.Carnets (1.800.227.6387) or carnets@roanokegroup.com. We can also assist you with developing a custom ATA Carnet program to fit your business model.
What value-added products are available?
  • ATA Carnet Bond
  • Lost Document Coverage
  • ATA Carnet Cargo Insurance