Buying insurance book account

[kingslodge]

Hi,

I need some basic knowledge about establishing a new insurance agency. Does a seller transfer carriers or do I need to get appointment by carriers If I buy account book and hold current license?

Thanks,

 

[marc82much]

Hi,

I need some basic knowledge about establishing a new insurance agency. Does a seller transfer carriers or do I need to get appointment by carriers If I buy account book and hold current license?

Thanks,

What kind of book? P&C? If so, the seller cannot assign or sell you his appointments. You have to get each and every one yourself.

 

[kingslodge]

Thanks.
It is P&C. Actually, I need carriers' appointments, but not easy and takes long time. If you give me any idea to get carrier appointments, I will appreciate it.

 

[blue_wynd]

Talk to the carrier that you are buying an agency and wants to get licensed. You will still need to go through the carrier's vetting process, but you do get a leg up as you are buying an existing book of business. You will still need a good business plan on how you expect to send them more business once you buy the agency.