MedleyMotoCo1
New Member
- 1
I work for a Private Lender who has a residential rental property business, and a finance business.
He finances commercial trucks and cars.
Recently I was offered "promotion" of sorts. Basically, he will pay for me to undergo a 2-20 licencing course and subject to my passing and aquireing the licence he will hand over his insurance portfolio to me for management.
He has an interest in having me set up an agency dedicated to issuing policies for his financed commercial trucks. He and his partner in the truck dealer business sell roughly 250 trucks a year, he says they will mount an office for me at the dealership local and send all their clients my way.
They claim with semi trucks that policy premiums range between 12-24k with a 25% profit margin. He wants 50% of the gross and control over the insurance accounts. In return I pay nothing to set up the office space and occupy and get free advertising.
I have concerns. Is it possible for me alone to handle 250 policies a year? And are the numbers they present realistic. How does commercial truck insurance writing work?
He finances commercial trucks and cars.
Recently I was offered "promotion" of sorts. Basically, he will pay for me to undergo a 2-20 licencing course and subject to my passing and aquireing the licence he will hand over his insurance portfolio to me for management.
He has an interest in having me set up an agency dedicated to issuing policies for his financed commercial trucks. He and his partner in the truck dealer business sell roughly 250 trucks a year, he says they will mount an office for me at the dealership local and send all their clients my way.
They claim with semi trucks that policy premiums range between 12-24k with a 25% profit margin. He wants 50% of the gross and control over the insurance accounts. In return I pay nothing to set up the office space and occupy and get free advertising.
I have concerns. Is it possible for me alone to handle 250 policies a year? And are the numbers they present realistic. How does commercial truck insurance writing work?