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General Accounting Terms
All agents of Kimbrell Insurance Group are statement-pay agents. A statement will be sent by the fifth of the month following the transaction. Statements can be sent via email or regular mail. The statement amount will be due by the fifteenth of the month and will be considered delinquent on the twenty-fifth of the month. A notice of cancellation will be issued for each policy with delinquent payment.
Exceptions: Special items may have a due date other than the fifteenth. Always check binders for alternate billing instructions. If there are any questions, please contact your underwriter.
Billing Types
Agency Bill: Forms of payment accepted are ACH payments,agency checks, cashiers checks, mortgage company checks, money orders and finance company drafts. Please make checks payable to The Kimbrell Company, Inc.
Direct Bill - Kimbrell to Insured: Personal Lines renewals are set-up direct bill. A copy of the renewal offer will be mailed to the agent, insured, & mortgagee (if applicable). Renewal will be bound automatically if payment is received on or before renewal date. In addition to payment types listed above, Insured’s checks are accepted. Commissions will be included on your producer statement.
Direct Bill - Company to Insured: Please make checks payable to the appropriate company (i.e. Montgomery, AIG, CNA, etc.). A check for commission on direct bill policies is sent on or around the twenty-fifth of the each month. Commissions are paid proportionate to the amount that the insurance carrier has paid to Kimbrell. If there are any questions, please contact your underwriter.
We now have the ability to email your monthly statement.
Policies written with a non-admitted carrier are subject to state and surplus lines taxes. These taxes are handled by our office.
North Carolina: Please remember that any risk located in the state of North Carolina must be accompanied by a signed Form F. This applies to all policies, whether they are new business, renewals, or rewrites. Policies may be subject to cancellation if form is not received within thirty days of binding.
Virginia: Virginia risks must include the agent’s federal identification number for filing purposes.
If you should have any questions or concerns regarding taxes, please contact Ann Prince, Tax Processing Administrator.
Credits for cancellation transactions will show on your statement approximately forty-five days after invoicing. Please be advised that if there is a discrepancy with the carrier, this credit may be rebilled to your statement. For financed policies, return premiums are returned to the finance company on a gross basis. The unearned commission will be billed to your agency.
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