Billing Policy / Disclosure
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NOTICE TO INSURED — PLEASE READ CAREFULLY
This disclosure is provided by ACO Insurance Group LLC (the "Agency") to inform all insureds of the
Agency's policies and limitations regarding direct bill and agency bill payment arrangements.
I. SCOPE OF AGENCY RESPONSIBILITY
ACO Insurance Group LLC serves as a licensed insurance producer and intermediary. In connection with
direct bill policies — policies for which premium invoices are issued directly by the insurance carrier to
the insured — the Agency does not collect, process, or remit premium payments on behalf of the insured.
Accordingly, ACO Insurance Group LLC bears no financial responsibility for the direct payment of
premiums to any insurance carrier under a direct bill arrangement.
II. MISDIRECTED PAYMENTS
When a policy is designated as direct bill, all premium payments must be remitted by the insured directly
to the issuing insurance carrier in strict accordance with the carrier's invoice instructions. In the event
that a premium payment — whether by check, electronic funds transfer, or any other form — is
incorrectly mailed, transmitted, or delivered to ACO Insurance Group LLC rather than to the designated
insurance carrier:
1. The Agency assumes no liability for any loss, delay, policy cancellation, lapse in coverage, or
failure to bind or renew coverage arising from such misdirection.
2. The Agency shall have no obligation to forward misdirected payments to the carrier, and any such
forwarding, if undertaken, shall be done solely as a courtesy and shall not create any ongoing duty or
precedent.
3. The Agency shall not be held responsible for any coverage gap, claim denial, or financial
consequence resulting from a misdirected payment, regardless of when the misdirection is
discovered.
III. ACTS OF THE INSURED AND AUTHORIZED REPRESENTATIVES
The limitations set forth in Section II apply equally to situations arising from the acts or omissions of the
insured or any party acting on the insured's behalf, including but not limited to:
• Mortgage lenders and lending institutions;
• Banks, credit unions, and other banking or financial institutions;
• Escrow companies and title companies;
• Accountants, financial advisors, and bookkeepers;
• Any other authorized representative or third party designated by the insured to manage premium
payment obligations.
ACO Insurance Group LLC shall not be held liable for delays, cancellations, non-renewals, or binding
failures caused by the failure of any such representative to correctly follow the payment instructions set
forth on the carrier's invoice or billing notice.
IV. INSURED'S RESPONSIBILITY
It is the sole responsibility of the insured to:
1. Review all carrier billing notices and invoices upon receipt;
2. Ensure that premium payments are directed to the correct payee and address as identified on each
invoice;
3. Communicate accurate payment instructions to any authorized representative acting on the
insured's behalf; and
4. Contact the carrier directly to confirm receipt of payment and the current status of the policy.
Any questions regarding premium amounts, due dates, or payment instructions should be directed to the
issuing carrier. The Agency is available to assist in identifying the appropriate carrier contact information
upon request.
VI. ACCURACY OF MAILING ADDRESSES AND CONTACT INFORMATION
It is the sole responsibility of the insured to provide ACO Insurance Group LLC and the issuing insurance
carrier with a complete, current, and accurate mailing address and contact information at all times. ACO
Insurance Group LLC relies exclusively on the address and contact details furnished by the insured or
their authorized representative(s) when communicating with carriers and forwarding policy-related
correspondence.
ACO Insurance Group LLC shall bear no responsibility or liability for any of the following arising from an
incorrect, outdated, or incomplete mailing address or contact information provided by the insured or any
authorized representative acting on the insured's behalf:
• Delays in the delivery of billing statements, invoices, or renewal notices;
• Failure of the insured to receive cancellation, non-renewal, or other material notices from the
carrier;
• Lapses in coverage, cancellations, or non-renewals resulting from missed or undelivered carrier
communications;
• Late payments, returned mail, or any other consequence arising from inaccurate address
information;
• Any gap in coverage or claim denial attributable to a failure to receive timely carrier notifications.
The insured is responsible for promptly notifying ACO Insurance Group LLC and the issuing carrier of any
change to their mailing address, email address, or other contact information. It is further the insured's
responsibility to verify that address information on all policy documents and carrier records is accurate and up to date. The Agency shall not be held liable for any consequence resulting from the insured's or
their representative's failure to provide or update accurate contact information.
VII. AGENCY BILLED INVOICES — PAYMENT REQUIRED PRIOR TO BINDING
IMPORTANT: Coverage is NOT bound until payment has been received, processed, and confirmed
in full by ACO Insurance Group LLC. Submission of a payment does not constitute binding of coverage
until processing is complete.
For policies invoiced directly by ACO Insurance Group LLC ("Agency Billed" policies), the following
payment terms and binding requirements apply without exception:
1. Payment in Full Required Prior to Binding. The insured must remit payment in full for all
applicable premiums, fees, and taxes as stated on the Agency invoice before ACO Insurance Group
LLC will authorize binding of coverage with any carrier partner. Partial payments do not satisfy this
requirement unless a written installment agreement has been separately executed.
2. Payment Must Be Processed. Receipt of a check, electronic payment, or other instrument does not
constitute completed payment until such funds have been fully processed and confirmed by the
Agency. ACO Insurance Group LLC will not issue a binding authorization to any carrier partner until
payment processing is confirmed.
3. Financial Exposure of the Agency. The insured expressly acknowledges that ACO Insurance
Group LLC assumes significant financial liability on Agency Billed policies. In the event that an insured
fails to execute timely and complete payment as agreed, the Agency may be held financially
responsible to carrier partners for ten percent (10%) to fifty percent (50%) of the stated policy
premium, depending on the terms of the applicable carrier agreement. This financial exposure is a
direct consequence of binding coverage on the insured's behalf and underscores the strict payment
requirements set forth herein.
4. No Coverage Without Confirmed Payment. ACO Insurance Group LLC shall bear no liability for
any uninsured loss, claim, or coverage gap arising from the Agency's decision to withhold binding
authorization pending receipt and processing of full payment. The insured understands and agrees
that coverage is not in force until a binding confirmation has been issued by the Agency following
confirmed receipt of payment.
5. Returned or Dishonored Payments. In the event a payment is returned, dishonored, or reversed
for any reason after coverage has been bound, the Agency reserves the right to request immediate
cancellation of the policy and the insured shall remain liable for any earned premium, fees, or financial
obligations incurred by the Agency as a result.