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Dear Valued Business Partner,

This is to notify you of improvements we are making to our invoicing process with respect to policies placed by Risk Specialists Companies Insurance Agency, Inc. (RSCIA) with Lexington Insurance Company. These changes are designed to streamline our invoicing process to make things more efficient for brokers and increase customer satisfaction.

We are making the following changes as of August 15, 2015:
  • We will be issuing a consolidated weekly billing invoice for our RSCIA business. This will be issued each Friday and will contain company transactions processed that week, with due dates of mid-month or end of month:

    • New and renewal transactions are due 30 days from effective date or 15 days from entry date, whichever is later, moved to the next weekly bill due date
    • Endorsements are due 30 days from entry date, moved to the next weekly bill due date

  • A statement of account will be issued monthly on our RSCIA business and will include open transactions on a cumulative basis as of the end of that month.
These invoice changes will have no impact on our current billing and collection cycle. Please note that during the transition to the weekly bill you may also receive individual invoices for a period of time. Please pay from the weekly bill only.

On August 15, we will be consolidating lockboxes for the RSCIA business to the existing lockbox located in California with Bank of America. As such, certain lockbox remittance, express package mailing addresses, and wire details are being changed. Our new information is as follows:

Previous Remittance Addresses No Longer Valid:
Risk Specialists Companies Insurance Agency, Inc.
73833 Network Place
Chicago, IL 60673-1738
Risk Specialists Companies Insurance Agency, Inc.
File 749223
Los Angeles, CA 90074-9223
Risk Specialists Companies Insurance Agency, Inc.
PO Box 414657
Boston, MA 02241-4657
New Premium Remittance Address:
Risk Specialists Companies Insurance Agency, Inc.
File 50682
Los Angeles, CA 90074-0682
New Address for Express Mailing:
Bank of America Lockbox Services
Attn: Risk Specialists Companies Insurance Agency, Inc.
File 50682
2706 Media Centre Drive
Los Angeles CA 90065
New Wire Details:
Bank of America
ABA No: 026009593
Account No: 1047168968
Account Name: Risk Specialists Companies Insurance Agency, Inc.
Please note that if RSCIA is not involved in business that you place with Lexington Insurance Company or AIG Specialty Insurance Company, you will receive a separate invoice and statement of account concerning that business. Please be certain to remit payment (whether by check or wire transfer) in accordance with the specific remittance information set forth in each invoice that you receive.

Similar changes are targeted for release in early 2016 with respect to policies placed by RSCIA (or by AIG Property Casualty Insurance Agency, Inc. prior to its merger with RSCIA) with AIG Specialty Insurance Company. We will send a notification at that time providing more details.

Please feel free to contact me at 617-330-8217 or email at david.squatrito@aig.com if you have any questions about these changes.

Sincerely,

David Squatrito
Assistant Vice President Premium Collections
AIG
 

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Risk Specialists Companies Insurance Agency, Inc. (RSCIA), an AIG Company, is a premier broker of specialty property, casualty, and personal lines insurance.

American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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