Sometimes You Need To Rant

MrGolf

Super Genius
100+ Post Club
150
Just took an inadvertent pay cut on a policy and now kicking myself for it...

Have a WC policy for a local bank that I've wrote for probably 6 years or so. It's a nice policy but not awesome by any means; probably about $20,000 premium or so. I always asked them every year when they are going to let me have a look at the rest of the account. And it is always the same answer, "Oh, we just can't right now. The agent would die. He's been our agent since the late 1960's and is a close friend of the Chairman of the Board. But you'll be the only person we do business with once he dies or retires." Blah, blah, blah. Whatever. They couldn't really say no when I asked about the WC some years back. They were in a rock and a hard spot between hurting this guys feelings and angering a pretty good client (myself).

Back to the present, I moved their WC and saved a grand or two and thought it might really put them to thinking about the rest of it. I mean, good grief this agent is up in his 70's-80's and isn't that active anymore and lives two hours away from here... But, alas, same answer this year. :swoon:

Just took a pay cut on a policy that I shouldn't have. Some days it just doesn't work out.
 
I'd be willing to bet that if you could get a competitive quote to the next board meeting, they would probably give you a shot at it. The board is always about saving money. Could you do a rough quote and send it their way to see if you could shock them into letting get them a real quote?
 
I'd be willing to bet that if you could get a competitive quote to the next board meeting, they would probably give you a shot at it. The board is always about saving money. Could you do a rough quote and send it their way to see if you could shock them into letting get them a real quote?

Nah, too complicated. There's 18 locations for the property and GL. Plus you have the D&O, EPLI, Fiduciary Bonds, etc., etc... The Board doesn't really even make the decision. It's left up to the President. He's a good dude and I know him very well. Know 80% of the Board members even better. The business is mine one day certainly, I'm just not very patient. Thus the need to rant. They're very loyal once they get with someone, they've been extremely loyal about the WC with me. Guess I'll just wait my turn. Patience is a virtue.
 
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