Looking for a good independent P&C agency

[marindependent]

Thanks!! Anyone else with info or ideas is appreciated!

Confused. Book Ownership but you also want to work for another agency?

 

[Markthebroker]

Confused. Book Ownership but you also want to work for another agency?

He wants to be an independent agent, but operate out of an agency and leverage their appointments and support staff. It's a pretty typical scenario. The one I have.

He wants book ownership, which he is unlikely to get.

 

[Bill Billock]

Check out PGI. I did a lot of homework before leaving my corporate agent role with an independent group. I landed on PGI for a multitude of reasons.....again I did a lot of research.

They have been absolutely fantastic so far and have delivered on every promise. I know I’m in the early phases with them, but I’m very impressed. I’m also not new to the industry so I do have at least a reasonable understanding as to what you need to watch out for.

 

[Hawaii Agent]

He wants to be an independent agent, but operate out of an agency and leverage their appointments and support staff. It's a pretty typical scenario. The one I have.

He wants book ownership, which he is unlikely to get.

@Markthebroker so you work for an agency as an independent agent but don't own your book? In HI, I think the majority of us own our books but work through agencies (commission splits vary from 40-70% to the agent with most at 50/50). Most local carriers require $1mill in premium per carrier to get appointed so we need to pool our books to get contracts. I never realized that Hawaii was so different that other places. Can you provide some details on your agreement with your agency? I'm just curious. Thank you!

 

[Markthebroker]

@Markthebroker so you work for an agency as an independent agent but don't own your book?

I do own my book.

In HI, I think the majority of us own our books but work through agencies (commission splits vary from 40-70% to the agent with most at 50/50).

Most independent agents working under an agency likely don't own their own book. I suspect you are mistaken.

Most local carriers require $1mill in premium per carrier to get appointed so we need to pool our books to get contracts.

Most agencies go through organizations called clusters, which is what you are referring to.

I never realized that Hawaii was so different that other places.

I suspect it isn't.

Can you provide some details on your agreement with your agency? I'm just curious. Thank you!

Like what? It's a pretty typical arrangement.

 

[Hawaii Agent]

@Markthebroker I'm not sure about clusters, we call them agencies here in Hawaii. The agency that I work with has a direct contract w/ the standard carriers and we split commissions. I can take my book wherever or sell it to whomever without any fight from the agency. I have moved agencies before and both the releasing agency and the new agency sign a blanket AOR and all of the policies follow. It's a big pain but the move was worth it to me. The majority of my friends in the industry own their books. I do know of those that are employees and do not own theirs too, but they're less common here. I only know of 2 agencies that are majority agency owned books (not counting AON & Marsh). The other 10 or so that I interviewed all allow us to keep our books.

When you say a "typical arrangement" what does that look like? You own your book but work with an agency and this is not typical? What does a "typical" commission split look like when you own vs. do not own? What are your responsibilities and what services does the agency provide to you?

I'm truly ignorant how the real world works. I apologize if I'm asking the questions in the wrong manner too. Hawaii is its own animal and actually a couple of agencies have been bought out by mainland brokers so it's interesting to get a different view of what's going on. If you're not wanting to share numbers here, I understand. Or if you want to take it off of the forums, DM me. I'm just curious. Thank you for your insight!