Agent of Record Change

[Milkman1265]

Here's the situation.

I work with wholesalers only and don't have direct contracts. But I have overlapping carriers between wholesalers and one is offering a bonus if we write through them.

My question is the aor/nor forms. If they are already my client, who signs the bor? I'm still the sub producer and their agent. Just moving them alround to another wholesaler.

Do I have to ask the client to sign each time we want to do an internal change?

 

[djs]

Nice try, but the wholesalers won't agree to this, probably violates terms in your contract AND AOR changes probably don't count towards the bonus, most bonuses are for NEW business.

You are better off finding new business to write.

Dan

 

[b61mack]

Good way to find yourself without any wholesalers.

 

[Milkman1265]

but there are times where the whole saler is cutting your commission because they themselves cant support their quota. you will keep it with them? for example, travelers everyone is giving you 10 but this wholesaler cuts you to 4 because their own commission got cut. '

also, if you get a direct contract, and have some people with whole saler, i dont think its unethical to change them out? the contract states i own my client and all renewals. there isnt any thing saying that i can not take them away

you wouldnt change them out?

 

[greatfish]

To answer your question - you sign the BOR changing it to another wholesaler. Usually an email requesting such along with the renewal submission is enough.

Remember you are basically firing the wholesale you are currently using if you do this. Likely ruining the working relationship.

If you are just looking for higher commission just ask them. Most will give a couple more points and just up their broker fee some.

 

[PhilL]

Though the underlining AOR/BOR theory is that the policyholder always has the right to fire the current agent, as others have stated here, serious consideration for carrier relationships needs to be a factor.