Needed: Startup Independent Sub-Agent contract guidelines

LeeG · 12-08-2008, 12:04 PM

I am considering becominging an Independent sub-agent with an established, successful agent who has been an Independent for 12 years. I've known this person for at least 20 years and am comfortable with his business ethics.

My questions:

What points should I make sure are in our contract?

What points should I avoid in our contract?

What is considered the industry norm for the general agent's share of my commissions?

In the event I would decide in the future to form my own agency, what aggreement should be in our contract regarding retaining the clients I sell from leads and prospects I generate myself, including my current client base of 1000+ names (from a different business)?

Ditto regarding clients I sell from leads generated by the general agent/agency?

Any other significant do's & don'ts I should be aware of?

Thanks in advance to the "professional gurus" here!!

Lee

healthagent · 12-08-2008, 12:17 PM

There's so much to go over I'm not sure where to start. What products are you selling?

insuranceexec · 12-08-2008, 12:40 PM

Originally Posted by healthagent

There's so much to go over I'm not sure where to start. What products are you selling?

Very good point! It is totally different depending on the product line.

LeeG · 12-08-2008, 01:06 PM

Originally Posted by healthagent

There's so much to go over I'm not sure where to start. What products are you selling?

Thanks for your prompt reply.

I am licensed for P&C and L&H. His agency includes that and business liability. He is affiliated with The Ahbe Group.

I will probably concentrate initially on auto & home, with life, health, and business as quickly as feasible.

Lee