PAYMENT & COLLECTION POLICY

Premium Payment Application and Policy Cancellation Policy

SES has entered into agreements with the insurance companies to collect premiums for master program policies. The agreement requires that SES forward premiums for which we have invoiced within a specific timeframe. We need to receive payments in a timely manner in order to do so. In addition, it supports our ability to expedite return premiums.

Premiums are due 20 days after invoicing. Invoices are available to our customers online:

At issuance for real-time transactions
Immediately after issuance for renewal
At your convenience in the Tree View

Going forward, the primary customer contacts will receive a copy of month-end statements indicating outstanding activity. Outstanding items beyond 30 days are considered past due. Coverage for properties related to anything outstanding beyond 60 days is subject to cancellation.

TIMS® user contacts will continue to receive an aged receivables report approximately 10 days after month-end as a final reminder of payment activity. TIMS users also have access to the following reports online at any time to assist in working through payment activity:

Premium Activity Report, which allows clients to view everything invoiced for specific time periods
Aged Receivable Report, which documents the invoices that remain outstanding

If coverage for a property is deleted for non-payment, the customer will receive a credit memo that offsets the original invoice. Coverage can immediately be reinstated upon receipt of full payment.

Bad Checks or Other Failed Payments Policy

If a payment for a renewal or initial placement does not clear, the primary contact will be notified and given 10 days to make the full payment. If the client doesn’t make the payment, SES will refer the account to the carrier for cancellation of the policy for non-payment of premium.

If a payment does not clear for an individual invoice payment, activity other than renewal or initial placement, including new additions, endorsements, or monthly activity, SES will contact the primary customer contact and give 10 days to make the full payment. If the client doesn’t make the payment, or if there is a subsequent event, the account may be referred for cancellation.

Please contact your SES Account Manager at (800) 955-4SES with any concerns as to the status of a payment or if you have any questions regarding this policy. We are here to assist with the resolution of any payment concerns.

For more information regarding our payment application and cancellation policy, please click here.