Am I Getting Screwed?

[bww143]

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,

 

[Derrick]

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).