Agent Commissions Chart

Discussion in 'P&C Insurance Forum' started by justaguy, May 24, 2011.

  1. justaguy
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    justaguy New Member

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    Hello everyone! I'm involved in a lawsuit with an insurance company in TX. We're going to mediation in June. The question has come up about certain insurance companies pay agents higher commissions than others. I thought I saw a chart of somekind online, but can't seem to locate it now. Is this true and does anyone have such a thing that shows what companies pay out? I thought most were at 10% and a few others were a bit higher. Any help would be appreciated!!
     
  2. xrac
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    xrac Well-Known Member

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    Isn't the payout whatever you agree to in your contract with them?
     
  3. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Well-Known Member

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    Just curious...Can you provide details about the lawsuit?
     
  4. Newby
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    Newby Well-Known Member

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    I can promise you there is no chart that is accurate.

    Companies all pay differently and agents within the companies get paid differently.
     
  5. Guest
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    Guest Guest

    it will vary by company and contract.

    Best example, Farmers own Bristol West Insurance, farmers agents make 10%, as an IA, I make 15% PLUS bonuses......

    I have a number of carriers who add a bonus commission if i write so many policies a month with them.
     
  6. Frank Stastny
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    Frank Stastny Well-Known Member

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    Inquiring minds would also like to know.

    If it is a case of suing a company because the agent isn't getting a high enough commission then I think all of us may want a piece of that. :D

    Is this common practice with P&C insurance?
     
  7. Mark
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    Mark Well-Known Member

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    It is really by the IMO, and not the company.

    The IMO decides what you get. There are sometimes guidelines as to what we are allow to give out once you get so high.
     
  8. comm vezmus
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    comm vezmus Member

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    agent sales journal has a list
     
  9. Norwayguy
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    Norwayguy Well-Known Member

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    Pretty sure he is speaking of P&C.

    I'm also interested in what you think you will accomplish with a lawsuit with a carrier....Wouldn't you lose your appointment to sell for that carrier?
     
  10. Guest
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    I would think that would be a definate yes, and you know these carriers all talk to each other, so you would never get another contract if not somehow mysteriously lose all the ones you have.

    I hope this guy retired!

    Oh wait, even better, I bet the guy only had a very small book with this company and is pissed that he is getting less commission that some huge agency is.....:no:
     
    Last edited by a moderator: May 25, 2011

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