Agent to Broker Transition

Discussion in 'General Insurance Agent Discussions' started by Maggie113, Aug 7, 2017.

  1. Maggie113
    Offline

    Maggie113 Member

    Posts:
    7
    Likes Received:
    0
    State:
    California
    As I make the transition as an agent to a broker, I have a few questions.

    I have a substantial amount in underwriting (some ready to deliver) and will be changing B/D very soon (upon which I will sign a broker contract). Totally leaving them high and dry...he he....trust me you'd do the same if you knew the details.

    Can big blue (with the new logo) switch me to the broker payout midstream for these open cases? It's way better ( it turns out I've been getting screwed of course). Basically there is the normal ~50% and I'm sure my production can justify a large portion of the secret "broker expense" payout. If i can't switch midstream, then is my agency required to pay me my normal agent bonus (even though I'm out). They won't give me anything extra if they can keep it.

    How can I make this work best for me...I'm 100% open to working with a new agency elsewhere as a broker and considering other options moving forward. I'll do anything necessary to close the the remaining cases in the best way for me and my family just short of new apps.

    What do you think???
     
  2. DHK
    Offline

    DHK Well-Known Member

    Posts:
    6,079
    Likes Received:
    21
    State:
    California
    Your broker payout will be about the same. Assume you'll "get screwed", but treated fairly according to the contracts in force when you submitted the business. Bonuses are probably only paid to CURRENT agents, not past agents... so it would depend on when the bonus is due to be paid.

    If it's that important to you, wait until you get your bonus and THEN quit.
     
Loading...

Share This Page