Captive Agent Going Independent. Where Do I Start?

InsuranceRus

Expert
42
Hello all,

Thank you for looking at my post and a really hope that you can help get me going in the right direction. I really need the help. I am a captive P&C agent with L&H licensing in Las Vegas. Where do I go for appointments? General Agent? I dont know where to start... Thank you for your responses and hope to hear from you guys soon!
 
Hello all,

Thank you for looking at my post and a really hope that you can help get me going in the right direction. I really need the help. I am a captive P&C agent with L&H licensing in Las Vegas. Where do I go for appointments? General Agent? I dont know where to start... Thank you for your responses and hope to hear from you guys soon!


Are you talking about p & c or life and health?

LIfe and health go with an IMO.
 
InsuranceRus,

Just like Markingriffin said...for life products you should find an IMO that you are comfortable. An IMO, BGA, MGA, are all the same name for an Insurance Broker that holds contracts with many insurance carriers. You then get appointed under them with the different carriers you will be doing business. This is normally done when you have business to submit (this is called "just in time contracting" which most carriers either require or prefer).

Most BGAs/IMOs also offer help with case design, illustrations, advanced planning, etc.

Good Luck and let us know how we can help....
 
Get about two or three referrals from experienced agents on this Board. Talk to them all and as mentioned...pick the one that you are comfortable with.

Maybe Nick or Rick can give you some ideas as well from their Association. I capitalized that word so it must be reputable.
 
Get about two or three referrals from experienced agents on this Board. Talk to them all and as mentioned...pick the one that you are comfortable with.

Maybe Nick or Rick can give you some ideas as well from their Association. I capitalized that word so it must be reputable.

Sure I can. Rus, just sent you a private message.

For public consumption, though: there are three things you MUST demand from any IMO you're looking to contract with:

1. An upfront release.

2. You must own all of your own business - if you leave, your business goes with you.

3. You must have your commissions paid to you - don't assign your commissions.

If you go with an IMO that offers all three of these things (in writing, mind you) then you're on the right track.
 
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Hello I am in the same boat as insurancerus. I would to have a few referrals, preferrably with IMO's that have few different carriers, including carrier's that offer non-med policies. Can anyone refer me to any? Thank you.
 
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