Am I Getting Screwed?

Oct 2, 2016

  1. bww143
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    bww143 New Member

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    I have qualified for incentive bonuses from one of our carriers. All of our other carriers will give checks or gift cards directly to the agent, so I only have experience with that. This particular one that I just qualified for pays the agency. The agency is then taking a split on my incentive $$. Is this normal for the agency to take a split?

    thanks,
     
    bww143, Oct 2, 2016
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  2. Derrick
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    Derrick Super Genius

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    I would take a look at your contract. Honestly, if it's not in your contract, it means it can be dictated by the agency.

    I don't have it in my contract but my agency pays most of it out to its agents in relation to their book size, loss-ratio, etc. Now knowing how fat those bonuses are, if I were to ever switch agencies, I would want a breakdown on the contract of just how bonuses are done (assuming we make bonus).
     
    Derrick, Oct 3, 2016
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