I just wrote a guy with Oxford. He had a policy with them that he lapsed (actually he cancelled it to get the junk policy he has now). It cancelled 7 years ago!!! So I get a new business memo stating they will pay me a reduced commission. I call ask what that is and they tell me a second year commission. I think I will pass. I was not the original agent on the policy. What a joke.
Oxford Re Write
- Thread starter jemelton
- Start date
- 24,968
I believe there are other companies that do that. Not agent friendly.
- 308
What other carriers do this?
- Thread starter
- #4
- 2,452
They pulled this stunt on me awhile back when I was writing for them. Definitely a dumb rule on their part. Use another carrier.
- Thread starter
- #6
- 1,912
I know many carriers do this, but you would think after 7 years they'd grant a little grace.
- 8,707
I know how the carrier thinks...we can only pay out 120% on this premium once before it affects our return. But to the agent who doesn't know the guy had the other policy 7 years ago your reward for bringing that premium back to the carrier is a renewal commission affects our return too its not like because he had a policy with the company before our acquisition costs are lower.
- Thread starter
- #9
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