Agla fires all agents

[PaulFess]

Why does everyone want to argue on these forums? DHK ....if you want to be a lawyer move out of your Momma's basement get your GED then apply for law school.

 

[DHK]

Welcome to the forum.

Why take the cut in pay to be a lawyer when all you have to do is think like one?

 

[WinoBlues]

Some of you are confusing independent versus captive rules. When you sell insurance through a captive career agency you sign away your rights to those clients and policies. It doesn't matter how the company treats you or the clients it does not change your contractual obligations. Replacements and/or even contacting a former client is grounds to have your insurance license removed. Keeping a client list, especially if it contains clients you did not write originally is illegal. Although it is unlikely you would be prosecuted data theft is in fact a felony. My suggestion if you leave the old business alone and go prospect new clients independently.

Who do you work for that has it's agents believe the company can term their license?

 

[DHK]

As far as EDJ its not about where the client wants to go, they will let them go. Its about the non solicitation agreement the rep signed. So whens someone leaves, solicits clients, and then get the cease and desist letter I'd love to know what their lawuers will say when you tell them it's my fiduciary duty to do so. They will tell you where you can go.

Agreed. You'd really got to be prepared for all that. That's generally why we only hear about big producers changing firms and getting large signing bonuses... because they can handle it. As we can guess... most EDJ guys couldn't.

 

[moonlightandmargaritas]

Replacements and/or even contacting a former client is grounds to have your insurance license removed. Keeping a client list, especially if it contains clients you did not write originally is illegal.

Can you provide a specific instance (not anecdotal, but fact) where someone has actually had their license "removed"?

 

[DHK]

It's b/d brainwashing and assuming that securities licenses work exactly as insurance licenses. In captive shops, they think that, when reality is different for insurance licensing. The only power insurance companies have is whether or not to allow me to represent them or not.

 

[sirherbie]

Tdk I think you're in la la land and day dreaming. Please show us a case were the insurance dept froze somebody's license because they poached THEIR CLIENTS. That's a civil matter between the ins company and the agent. The ins dept has nothing to do with it period . You know how slack ins depts are. I ran into a lady who had a 9 yr old policy and had a death claim. The company is investigating something 8 months later . I don't know exactly what it is . Anyway it's incontestable and a stall tactic. They complained to the ins dept and I read the response letter. It said THIS HAD NOTHING TO DO WITH THE INS DEPT AND IT IS A CIVIL MATTER. The ins company is breaking the law by stalling on an incontestable claim and the ins dept won't left a finger. And you're telling me the ins dept would give 2 craps about a stupid breach of contract. Again please show me some cases and I'll believe it.

 

[rousemark]

Why does everyone want to argue on these forums? DHK ....if you want to be a lawyer move out of your Momma's basement get your GED then apply for law school.

Where is the fun in that?

 

[dirtydiggler]

Why does everyone want to argue on these forums? DHK ....if you want to be a lawyer move out of your Momma's basement get your GED then apply for law school.

HaHa! spot on...

 

[MeatyPetey91]

I was affected by this.

What a surreal experience. Fortunately, I wasn't there for long. But boy was that frustrating to leave so many cases in underwriting. So many loose ends left undone. Sad to lose my appointments with our broker/dealer, too.