E & S wholesaler also has retail insurance brokerage
- Thread starter Capo
- Start date
- 2,313
What concerns you about this? Your E&S Wholesaler will steal your clients away from you?
- 5,423
Frankly, it is a valid concern to have.
It's only after you have some experience in the industry you realize it's not a real threat.
- 2,313
If a business owner or homeowner wants to bail on me to buy their nonadmitted insurance policy direct from an E&S vendor, than I have failed as an agent. [And good luck with that]
- 5,423
I'm just thinking this through. But if they did?
- Thread starter
- #6
This mainly pertains to commercial insurance. For example, A roofing contractor that I would insure through a wholesale broker. This wholesaler also has a retail insurance brokerage.
Also, I would add that this wholesaler has a clause in their appointment agreement that states.
Regardless of who owns the account. The policy holder ultimately decides who services the account.
So, if the roofing contractor decides they would like to work exclusively with this wholesale broker they can do so through their retail agency.
Also, I would add that this wholesaler has a clause in their appointment agreement that states.
Regardless of who owns the account. The policy holder ultimately decides who services the account.
So, if the roofing contractor decides they would like to work exclusively with this wholesale broker they can do so through their retail agency.
NY independent
Super Genius
- 107
I wouldn't do business with them. Not comfortable.
- 6,823
Caveat, not an agent.
What is an E&S wholesaler?
Conceptually, how does it relate to an FMO in the Medicare Supplement or Medicare Advantage world?
Thanks.
- 5,423
Lolz, that's like asking "What is a fuel injected carburetor, and what kind of sandwich do I put it in?"
- 6,823
And that smart a$$ comment is precisely why I did not ask the question of you.
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