Insurance Agent Forum

[joshril]

Originally Posted by insureman07

Thats the problem with this business. most people including myself were taken advantage of because the rules of engagement are foggy.
The Almighty GAs have no real power other than your assumption of their position. You can easily contact carriers and get appointed when you are a licensed agent.
GA/MGA ect sometimes give you more or less in commission depending on the arrangement ( leads/or no leads (your on your own)ect . Most importantly Make sure its in writing that you own your book of business (all of the policies you sell and the residuals) also include a provision about no contact from the general agent.
Some will have the nerve to make you buy your own leads. Then fold when charge backs start to come and hold your residual checks even when you pay them back! Next you will hear from your clients that they got a letter in the mail from your "Agency" saying they have let you go and will now be handling their coverage. In reality your client has no idea who they are and sees it as a fraudulent attempt at their business and calls you their agent who's name is the only familiar word in the letter from this said agency whom they have never heard of.
In the End It can Be a Nightmare!!!!!
GO DIRECT THROUGH the CARRIER AND AVOID THE MADNESS
You can survive if you work hard enough with the
Several carriers who advance commissions
GO DIRECT !GO DIRECT !
Trust me

Sounds like you've had a good experience with a GA...

[insureman07]

Originally Posted by joshril

Sounds like you've had a good experience with a GA...

you have no idea......

Not just once either ive worked with 6 total
I currently have direct appoinments with all carriers except 2

[InsuranceBenefitsGroup]

Originally Posted by insureman07

Thats the problem with this business. most people including myself were taken advantage of because the rules of engagement are foggy.
The Almighty GAs have no real power other than your assumption of their position. You can easily contact carriers and get appointed when you are a licensed agent.
GA/MGA ect sometimes give you more or less in commission depending on the arrangement ( leads/or no leads (your on your own)ect . Most importantly Make sure its in writing that you own your book of business (all of the policies you sell and the residuals) also include a provision about no contact from the general agent.
Some will have the nerve to make you buy your own leads. Then fold when charge backs start to come and hold your residual checks even when you pay them back! Next you will hear from your clients that they got a letter in the mail from your "Agency" saying they have let you go and will now be handling their coverage. In reality your client has no idea who they are and sees it as a fraudulent attempt at their business and calls you their agent who's name is the only familiar word in the letter from this said agency whom they have never heard of.
In the End It can Be a Nightmare!!!!!
GO DIRECT THROUGH the CARRIER AND AVOID THE MADNESS
You can survive if you work hard enough with the
Several carriers who advance commissions
GO DIRECT !GO DIRECT !
Trust me

This is the same mentality that put the 'mom and pop' shops out of business -enter Walmart. I am a GA that trains the hell out of my agents. Most are recruited from ridiculous captive companies that sell junk. I put a LOT of time and energy into my agents as I DESERVE my override. I also put my neck out with companies like GR as they will not advance subagents -they make the GA take on the risk. I have agents that work for me that make $120K. They were pushing pencils for 30k before they were on board. You want to get licensed and go direct with the companies? Feel free, you WILL fail.