I am captive but I can write Work Comp with any carrier if my company doesn't want the risk - and they don't want much so I've virtually got an open door. Texas Mutual is hard to beat especially with their dividends but I just had a long time customer come in with a quote thousands less than Texas Mutual's renewal. He won't show me the actual quote so I have no idea who the carrier is. Loyalty is a joke, clients ask you to bend over daily for service then they are ready to leave you on a whim with no idea what they are buying. He says he reviewed the quote and everything is equal but with a spread like he's saying he got there's no way unless we have a carrier giving it away. If we do I just need to know who it is so I can write for them too. This customer has had 2 big losses and most of the majors won't even quote it - so again, I ask who is giving away Work Comp in Texas? Suggestions please - and please supress any urge for sarcastic remarks if you have one come over you, I'm not up to it. I'm fed up with customers who price hop when they don't have a real clue what they are looking at, they just look at the price. We try to quote legitimately using factual data, not all agents do because they hope to make it up on the end of year premium audit. By then you've already lost the account so they just stay with the crooks.
Who Are the Real Players in Work Comp-Texas?
- Thread starter txagt39
- Start date
- 3,863
We have Travelers and the rate is super low. I have never had anyone touch the rate. I have no idea what kind if commission my agent gets.
FYI workers comp is optional in Texas for those who do not know.
FYI workers comp is optional in Texas for those who do not know.
- Thread starter
- #5
Don't think so, his renewal is Sunday and he won't return our calls. A _ _ H_ _ _ is seeing green and is walking, no running to that quote for the give-away price after we've serviced him for years with multiple claims. I hope he gets it broke off in him so far he can't see daylight for weeks. It's really getting frustrating trying to knock yourself out to provide service when they walk to save a nickel without any regard to making sure what they are getting.
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Travelers would not quote this risk because of the claim history. We tried them. Any other ideas?
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No, but you can bet I will. Thanks!
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- 1,076
Companion has been very, very competitive and hard to figure out. I have seem some crazy low quotes out of them lately in CA on difficult class codes (roofing, framing, Tree trimmers, security guards, etc) and I know they write in Texas as well. I access them through a contractors association program but I know that First Comp will quote them through their REX wholesale division as well. There are so many little WC carriers coming out of the woodwork in CA buying market share that nothing surprises me anymore.
- 3,863
What is typical agent compensation on Workers Comp? 10% level?
don't let your customer play you.....send him a fax....congradulating him...on getting a good quote....and you hope their is not a big hole in his coverage.....which could cost him dearly......remind him, your job is to protect him.....but it is his call if he doesn't want to show you the quote....i am sure he showed the other company your quote....don't let it get to you.....
- 1,076
10% is about average. Compensation varies widely from 5% through MGA's to 17% from your main carriers (Travelers, Hartford, etc) for desired classes of business.
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