What You'll Learn
Can audit premiums be financed through Ascend?
What happens if I accidentally finance an audit premium?
How to collect audit premiums from my insured through Ascend
Can audit premiums be financed through Ascend?
Audits are not financeable with Ascend. Because nearly all audit premiums are 100% minimum earned or fully earned by the MGA or carrier, Ascend has no collateral to cancel for insured non-payment, as we do with existing coverage on a policy premium.
Additionally, an audit premium cannot be added to an existing financed policy as a financed endorsement.
What happens if I accidentally finance an audit premium?
If your team financed audit premium through Ascend, please get in touch with our Support Team at support@useascend.com, and we will assist with addressing the issue.
How to collect audit premium through Ascend
The best way to collect payment for Audits is by using the Invoices feature.
This will allow you to collect funds from your client directly, and Ascend will not generate financing terms for this type of collectible.
Contact Us
Need more help? Contact us at support@useascend.com for more help.