Due to changes by the Fair Credit Reporting Act regulation, ACORD temporarily suspended use of the ACORD 821 Producer Information Form while a revised version was under development. ACORD is pleased to announce the new version of the form is now available to our members.
ACORD and SILA (Securities and Insurance Licensing Association), jointly collaborated with outside counsel to update the 821 Producer Information Form and to develop a stand-alone federal disclosure form that must be provided (ACORD 877 or ACORD 877 CA). Additionally, a new supplemental Background Check Authorization form (ACORD 876) was created to be used as a disclosure and authorization that provides guidance with respect to the FCRA regulations and guidelines.
What’s New?
The revised ACORD 821, Producer Information Form or PIF is used to initiate, manage, and/or terminate the relationship between the Life, Annuity, Health, Broker/Dealer and/or Property & Casualty producer and the Insurance Company. The new ACORD 821 form replaces several retired forms (ACORD 758, 817, 818 and 819)
In addition to the ACORD 821 form, several additional authorization and disclosure forms are being introduced that provides guidance with regards to the Fair Credit and Reporting Act (FCRA). All ACORD forms are available in the ACORD Standard Forms library.
- ACORD 821 (2015/10) Producer Information Form
- ACORD 876 (2015/10) Background Check Authorization
- ACORD 877 (2015/10) Disclosure of Intent to Obtain Consumer Report or Investigative Consumer Report (except California)
- ACORD 877 CA (2015/10) California Disclosure of Intent to Obtain and Investigative Consumer Report.
Advantages:
- Consistent, standardized form in support of all Lines of business
- Supports new or additional appointments, demographic changes, terminations, assignment of commission, E&O detail
- NAICs Uniform Licensing Application background questions are included with permission from NAIC (www.naic.org)
- Supports multiple formats
- Enabler of automation with streamlined process and reduced errors
To obtain a copy of the latest forms, please contact ACORD Member Services at 1-800-444-3341 Option 2. ACORD members can download the PDF and other versions of the form here. Questions and feedback about the new form can be sent to Sandy Hampel, ACORD Life & Annuity Director of Implementations, at shampel@acord.org. For more information about ACORD 821 or any other form, please contact memberservices@acord.org.