Agent recourse?

[cabowker]

I have been working with an agency for 25 years and have amassed a large book of business. Recently one of our agents passed away. His wife was licensed and certified since 2015 with the understanding she would inherit a 70% portion of his book of business. The agency owner has me mailing record of change forms to all the deceased agents clients to assume all commissions. He does not believe the wife should get anything at all going forward.
There have never been any written contracts of any kind.
I see the writing on the wall so I went back and looked at my Insurance Company Producer Contracts and they are Licensed Only Agent.

Is there any advice can be given?

 

[billyb]

The widow had nothing in writing? If not she probably hasn't got any chance of getting a portion of his book. You better get something in writing too.

 

[Tahoe Ray]

I have been working with an agency for 25 years and have amassed a large book of business. Recently one of our agents passed away. His wife was licensed and certified since 2015 with the understanding she would inherit a 70% portion of his book of business. The agency owner has me mailing record of change forms to all the deceased agents clients to assume all commissions. He does not believe the wife should get anything at all going forward.
There have never been any written contracts of any kind.
I see the writing on the wall so I went back and looked at my Insurance Company Producer Contracts and they are Licensed Only Agent.

Is there any advice can be given?

LOA agents have no right to the book.

Have you signed a non-solicit?

 

[scagnt83]

No recourse.

But if she is licensed, she can reach out to them herself and AOR it to herself.

For your situation, as Ray asked, have you signed a non-solicit?

Also, does the contract hold you as Captive right now? Are you able to write outside the Agency?

 

[DonP]

Is this Medicare ? You said she’s certified . There’s no AOR changes for Loa agents as the agency owns the business

 

[marindependent]

There have never been any written contracts of any kind.

 

[cabowker]

LOA agents have no right to the book.

Have you signed a non-solicit?

Never signed anything. Thanks

 

[cabowker]

Is this Medicare ? You said she’s certified . There’s no AOR changes for Loa agents as the agency owns the business

 

[cabowker]

I am LOA, the deceased agent was not. Thanks.

 

[cabowker]

No recourse.

But if she is licensed, she can reach out to them herself and AOR it to herself.

For your situation, as Ray asked, have you signed a non-solicit?

Also, does the contract hold you as Captive right now? Are you able to write outside the Agency?

By word of mouth, I am not supposed to write business outside the agency. Thanks.