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LTS, what is you concern specifically around me NDA I don't see an issue with signing one to see a contract what am I missing?
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Breaking Into P&C
- Thread starter LTS
- Start date
- Thread starter
- #12
I don't have an issue with requiring or signing an NDA. I've signed a lot of NDAs and read a lot of contracts lately. I just think it's interesting that, often though not always, the folks with good contracts don't require NDAs.
I am a former SIAA member that would absolutely NOT recommend them. From what i understand the experience is heavily dependent on the MA but either mine was not good. I left a large established agency to start a new one and was scared so joined with hopes of having a safety net. The carriers that they gave us access to were very uncooperative and made it very clear that they Were only talking to us because of SIAA. Have you ever tried to work with someone that is being forced into it?? Not easy. Carriers feel pressured to appoint SIAA master agencies because of their size. Bottom line is after 3 years in business we had written a little over $5 million and less than $200k of that was through SIAA, all the rest was through carrier contracts we had secured ourselves. We still had to pay our MA 10% on that business. The early exit procedure is atrocious.
- Thread starter
- #15
Thanks for the insight RRH.
Would you have gotten your non-SIAA carriers if you didn't have SIAA stink on you?
Would you have have had a shot at appointment with SIAA's carriers without them? You're telling me that the SIAA affiliation then inhibited your ability to write with that carrier?
Where are you located?
How did your commissions, supplemental commissions and bonuses compare between SIAA and non-SIAA arranged carriers?
Would you have gotten your non-SIAA carriers if you didn't have SIAA stink on you?
Would you have have had a shot at appointment with SIAA's carriers without them? You're telling me that the SIAA affiliation then inhibited your ability to write with that carrier?
Where are you located?
How did your commissions, supplemental commissions and bonuses compare between SIAA and non-SIAA arranged carriers?
- 1,581
If you're writing that much why would u have even considered siaa or any group? You're buyout on that 200k book would have been peanuts too. I smell some boosh
It was a new business we had no idea we would have grown that quickly. We were mostly worried about getting cock blocked by our former employers with carriers. We had relationships with the carriers from previous agency so I'm certain SIAA wasn't even taken into consideration when we were appointed. The buyout was based on your entire book not just the SIAA portion. And while we paid the MA 20% of the commission on business placed through their contracts we still paid 10% on all the rest of it. It probably works well for small agencies with limited growth potential. I am no longer involved with the agency but they are still doing very well. I'm not sure if they have ended their relationship with SIAA or not.
Sanfelipe123
New Member
- 5
Starting my own Independent Agency.
SIAA got me over the hump, I thought I would be a star. I paid around $10,000 fee to join. They didn't give me the support I needed to grow. This was 2001. They were big and too busy for me. Their quotes were late or lost. Once they got my money, there was no urgency.
I have noticed many other similar services for less.
I ended up being a personal lines agency.
SIAA got me over the hump, I thought I would be a star. I paid around $10,000 fee to join. They didn't give me the support I needed to grow. This was 2001. They were big and too busy for me. Their quotes were late or lost. Once they got my money, there was no urgency.
I have noticed many other similar services for less.
I ended up being a personal lines agency.
