Good Morning All -
I am new to this board and was looking at opening am insurance agency. Before you start laughing, here is may background and you may see why I am looking at this route.
We currently own multiple independent title insurance agencies in the western united states as well as have mortgage banker licenses and own real estate brokerages.
Our main background is title insurance we have been doing this for over 20 years.
Sadly in our area we have had trouble getting the P&C producers to work in a timely fashion and keep up with the standards that we set for our staff and our clients expect. If you are in our area and are outstanding maybe we have just missed working with you and look forward to it .
So what I am wondering is agency owners out there what type of splits do you see with your underwriters ?
Are you taking your agency fee then paying the underwriter their cut or do they pay your agency ?
I know this sounds like very novice questions but if I was getting the service levels that met my standards I would not be considering opening my own agency.
Thanks
I am new to this board and was looking at opening am insurance agency. Before you start laughing, here is may background and you may see why I am looking at this route.
We currently own multiple independent title insurance agencies in the western united states as well as have mortgage banker licenses and own real estate brokerages.
Our main background is title insurance we have been doing this for over 20 years.
Sadly in our area we have had trouble getting the P&C producers to work in a timely fashion and keep up with the standards that we set for our staff and our clients expect. If you are in our area and are outstanding maybe we have just missed working with you and look forward to it .
So what I am wondering is agency owners out there what type of splits do you see with your underwriters ?
Are you taking your agency fee then paying the underwriter their cut or do they pay your agency ?
I know this sounds like very novice questions but if I was getting the service levels that met my standards I would not be considering opening my own agency.
Thanks