Insurance Agent Forum

[Franz Kafka]

Hello everyone. I am Franz Kafka and have just joined up today. I am a second year agent and don't know much.

I have always been a little confused about the whole agency/agent relationship and have a question.

I recently left an independent agency and called the carriers to ask how I could change agency. The carriers said my old agency would not release me. I contacted the old agency and they said they would give me a GA appointment with them.

My question is does the old agency have the right not to release me as their agent? If they can, how long do I need to wait before I get released? and Does this mean I cannot get re-appointed with carriers I worked with under the old agency?

I would truly appreciate if someone could explain this to me. Thank you.

[GreenSky]

Originally Posted by Franz Kafka

Hello everyone. I am Franz Kafka and have just joined up today. I am a second year agent and don't know much.

I have always been a little confused about the whole agency/agent relationship and have a question.

I recently left an independent agency and called the carriers to ask how I could change agency. The carriers said my old agency would not release me. I contacted the old agency and they said they would give me a GA appointment with them.

My question is does the old agency have the right not to release me as their agent? If they can, how long do I need to wait before I get released? and Does this mean I cannot get re-appointed with carriers I worked with under the old agency?

I would truly appreciate if someone could explain this to me. Thank you.

There is an agreement between marketers and carriers that require either a release or (typically) 6 months of inactivity to move your contract. It is one of the most dishonest piece of the FMO/IMO system.

You might go to your current agency and tell them you'd be happy to contract as an independent if they give you a guarantee of a future unconditional release if it doesn't work out.

By the way, what is the name of this agency so we can put them on our "sh*t list?"

Rick

[Franz Kafka]

Originally Posted by GreenSky

There is an agreement between marketers and carriers that require either a release or (typically) 6 months of inactivity to move your contract. It is one of the most dishonest piece of the FMO/IMO system.

You might go to your current agency and tell them you'd be happy to contract as an independent if they give you a guarantee of a future unconditional release if it doesn't work out.

By the way, what is the name of this agency so we can put them on our "sh*t list?"

Rick

Thanks for the reply.

I am a Career Agent now at the new agency and the new agency said I could get direct appointed with any carrier as Outside Business but I cannot get GA appointed with the old agency.

I would be happy to give you the name of old agency "privately" and you can add them to the list. Is that OK?

[GreenSky]

Originally Posted by Franz Kafka

Thanks for the reply.

I am a Career Agent now at the new agency and the new agency said I could get direct appointed with any carrier as Outside Business but I cannot get GA appointed with the old agency.

I would be happy to give you the name of old agency "privately" and you can add them to the list. Is that OK?

Go ahead and post the name. You're not saying anything not true, right?

Rick

[Franz Kafka]

Originally Posted by GreenSky

Go ahead and post the name. You're not saying anything not true, right?

Rick

ICM