Anybody Ever Know Some One Who....

[WinoBlues]

So.....certainly far more cons than pros. Clearly in violation of any type of contracting paperwork that would surely be signed by a captive/career agent.

I'll try not to let the $$ blind me. I have been and will be successful with or without it. Shredding them is gonna be tough though. I'll admit that, probably the right thing to do. I'll admit that also.

The ever elusive "quick and easy" buck......

I had to shred the ones I had for a company I plan to never use again because they kept calling me like siren from the deep.

 

[cowgoesMoO]

I think its funny how only 2 people actually posted or referenced examples from their own experience which is what it seems you were looking for.

Everyone wants to put in their 2 cents and feel like a good guy.

I have a sneaking suspision that a lot of the people who act so morally reprehensed have done exactly what you are considering, maybe not to the same degree, but it seems that most people on this forum at one time or another started out working directly for an insurance carrier and went independent. It would be almost impossible not to take ANY names or numbers with you. A whole database is a different story though.

anyway, back to what you asked for:
I left a callcenter health insurance agency where I was captive. Went to work for a major insurance carrier that does local face2face life insurance, I most certainly took names and numbers of people who were local to me; some my clients, some not. Now, I didn't rewrite any of their health, but I did sell them some life, which my former agency didn't do anyway. So I didn't feel bad about it. it probably violated something or other, but my boss didn't care as long as I'm writing business, in fact before I made the switch he mentioned that I should get as many local clients as possible. I only got a handful of life policies and didn't rewrite any of the health, so my old agency had no clue.

Is it cost effective for a company to pursue a lawsuit in this instance? How much business is one agent going to cost them?

 

[VolAgent]

I think its funny how only 2 people actually posted or referenced examples from their own experience which is what it seems you were looking for.

Everyone wants to put in their 2 cents and feel like a good guy.

I have a sneaking suspision that a lot of the people who act so morally reprehensed have done exactly what you are considering, maybe not to the same degree, but it seems that most people on this forum at one time or another started out working directly for an insurance carrier and went independent. It would be almost impossible not to take ANY names or numbers with you. A whole database is a different story though.

anyway, back to what you asked for:
I left a callcenter health insurance agency where I was captive. Went to work for a major insurance carrier that does local face2face life insurance, I most certainly took names and numbers of people who were local to me; some my clients, some not. Now, I didn't rewrite any of their health, but I did sell them some life, which my former agency didn't do anyway. So I didn't feel bad about it. it probably violated something or other, but my boss didn't care as long as I'm writing business, in fact before I made the switch he mentioned that I should get as many local clients as possible. I only got a handful of life policies and didn't rewrite any of the health, so my old agency had no clue.

Is it cost effective for a company to pursue a lawsuit in this instance? How much business is one agent going to cost them?

Really?

Hmm, when I left Mass, I took a list of my clients with me. I only contacted them if they contacted me. I got a lovely letter from the co-GA, a real douchebag, threatening me with legal action if I tried to roll any of them. Never tried and wasn't going to anyway. But I found the tone of the letter very offensive.

Left a P&C agent. Owner loved to preach morals and being a stand up guy, you know what that means. I left every single file there and walked away. In some ways, that was one of the happiest things in my life. I decided I was going to leave right then and there, but I got all my ducks in a row and left with no warning. There were some clients I had independent of the P&C agency and they went with me.

If you have been in this business for any length of time, it isn't uncommon to find yourself in these situations. It is up to you on how to handle it. Odds are, no one is going notice a few clients here and there moving. But you better believe, you start rolling a book, someone will notice. And even though these are orphans, if it was accessed electronically, the company can see who did it. Home office folks sometimes aren't the brightest, but they aren't stupid.

 

[rousemark]

If they were truly orphans and its not taking money off of anyone's table then I believe the eithcal question is a moot point.

I believe I found a thread that addresses this. "non-sillicitation vs. Non-compete"

It is taking money off the company's table and you are doing it with their proprietary information. It is the equivalent of "grand theft". It is one thing if you roll the clients that you brought to company.. it quite another to use their confidential info to go after a whole block of business. If an agent came to me asking for a contract and told me what he had in mind and where he got the information, I would not give him a contract. If he will steal from his previous company, he would do the same to me.

 

[Norwayguy]

I do not know what the dilemma is...Most captive agents have a strict nonsolicitation agreement for a period of time.... Secondly most contracts have a provision in it requiring you to return company property and you better believe an orphan database is company property.

 

[pfg1]

I wouldn't do it, as tempting as it may be. Not worth the potential problems it could bring.

And since you wouldn't work for that company any longer, how would you plan to get around the Do Not Call list - since you have no relationship with those folks?

 

[dorado]

I wouldn't do it, as tempting as it may be. Not worth the potential problems it could bring.

And since you wouldn't work for that company any longer, how would you plan to get around the Do Not Call list - since you have no relationship with those folks?

How do you know they are in the DNC list? Just asking...

 

[DHK]

You need to check the DNC registry.

An exemption would apply if you had an existing business relationship (which you don't have) or if the prospect authorizes you to contact them (which they didn't).