- 977
I'm trying to gauge the feasibility of opening my own agency, but I have a bit of an issue in the event that I do...
I am a producer for a captive agency, so I have two different contracts to abide by, one with agency principal, one with the company. I've spoken with the agency principal and have no concern over issues with him. The captive company, I'm not really sure about. They did tell me they are not concerned about my office location, so I can continue doing business from the same place, but of course I am not to "solicit or service" their policyholders.
My problem is, I've been operating out of my own office, mostly with customers who have been coming here for non-insurance business, so more or less they are "referrals". For them, dealing with me for insurance is a matter of convenience.
If I were to start my own agency, I know some of my former clients would stick with the agency I'm currently with, but many come here for service or to make payments and won't drive 30 minutes away to deal with the agency I'm currently contracted with, they have never had contact with anyone over there. A large portion of those clients would seek me out, I would not solicit them. I do not plan on violating my agreement. However, I don't want to end up with a lawsuit anyway. Would you place their business? I assume that would be considered providing service to a policyholder, Would you refer them to someone else? Understand they are my clients on more than one front, so I don't want to put them in a bind because of any changes I make, as it would sour our business relationship on both fronts. Even though I would like to keep their business, I would do so not at the cost of being unethical or having a lawsuit come my way.
How would you deal with this?
...yes, I do have an in with a lawyer I can talk to, just curious if anyone here has seen a similar situation
I am a producer for a captive agency, so I have two different contracts to abide by, one with agency principal, one with the company. I've spoken with the agency principal and have no concern over issues with him. The captive company, I'm not really sure about. They did tell me they are not concerned about my office location, so I can continue doing business from the same place, but of course I am not to "solicit or service" their policyholders.
My problem is, I've been operating out of my own office, mostly with customers who have been coming here for non-insurance business, so more or less they are "referrals". For them, dealing with me for insurance is a matter of convenience.
If I were to start my own agency, I know some of my former clients would stick with the agency I'm currently with, but many come here for service or to make payments and won't drive 30 minutes away to deal with the agency I'm currently contracted with, they have never had contact with anyone over there. A large portion of those clients would seek me out, I would not solicit them. I do not plan on violating my agreement. However, I don't want to end up with a lawsuit anyway. Would you place their business? I assume that would be considered providing service to a policyholder, Would you refer them to someone else? Understand they are my clients on more than one front, so I don't want to put them in a bind because of any changes I make, as it would sour our business relationship on both fronts. Even though I would like to keep their business, I would do so not at the cost of being unethical or having a lawsuit come my way.
How would you deal with this?
...yes, I do have an in with a lawyer I can talk to, just curious if anyone here has seen a similar situation
