The Virginia Bureau of Insurance (Bureau) will mail company appointment invoices on or about October 1, 2010, for producer appointments added during the quarter ending September 30, 2010.
Remittances are due no later than November 10, 2010, and checks must be made payable to State Corporation Commission/LAP for the exact amount billed.
Payments must be submitted to the Lockbox address on the invoice, Insurance 1, P.O. Box 758964, Baltimore MD. 21275-8964 and the bottom portion of the invoice must be included with the remittance.
Failure to include the bottom portion of the invoice or payment of the incorrect amount will reject and could cause a late penalty fee to be assessed.
The Bureau no longer mails a copy of the original invoice as first and second “courtesy reminders.” A postcard “reminder” will be mailed on or about November 1, 2010, to all Companies with unpaid invoices.
Any request for a copy of the original invoice must be emailed to pptbillinginquiry@scc.virginia.gov. If the company does not receive its invoice by October 14, 2010, immediately notify the Agents Licensing Section at apptbillinginquiry@scc.virginia.gov.
Company who submit payments received after November 10, 2010, will be assessed a penalty of $50 per day for each day between the date due and the date full payment is received.
Questions regarding appointment fees and penalties must be submitted to the Agents Licensing Section at apptbillinginquiry@scc.virginia.gov. The Company’s NAIC number and Invoice ID must be included on any correspondence.
The insurance licensing information provided on this blog is not legal advice and the reader is advised to consult an attorney regarding application of this information in any particular situation.
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