Equitable L&C Agent Termination

[somarco]

Today's mail arrived with a thud, similar to "Greetings from your local Draft Board".

My agent agreement has been terminated.

Why?

The MGA (Ritter) was terminated.

Anyone else receive this letter? I am sure I am not the only one.

I have not (yet) contacted Ritter or Agency Services. Figured both lines would be jammed.

Why Ritter was terminated is not my concern. At this point I am only looking out for my clients and my renewals.

Speaking of clients, will I still have access to the agent portal to review communication and claims?

Does this mean I just lost a significant portion of my renewals? Can I switch to another MGA without a hitch? I assume a release is not required.

 

[Fisher]

Call Equitable and ask, perhaps?

 

[Todd King]

Today's mail arrived with a thud, similar to "Greetings from your local Draft Board".

My agent agreement has been terminated.

Why?

The MGA (Ritter) was terminated.

Anyone else receive this letter? I am sure I am not the only one.

I have not (yet) contacted Ritter or Agency Services. Figured both lines would be jammed.

Why Ritter was terminated is not my concern. At this point I am only looking out for my clients and my renewals.

Speaking of clients, will I still have access to the agent portal to review communication and claims?

Does this mean I just lost a significant portion of my renewals? Can I switch to another MGA without a hitch? I assume a release is not required.

You should be able to switch without the release or hitches.

 

[Matthew King]

Today's mail arrived with a thud, similar to "Greetings from your local Draft Board".

My agent agreement has been terminated.

Why?

The MGA (Ritter) was terminated.

Anyone else receive this letter? I am sure I am not the only one.

I have not (yet) contacted Ritter or Agency Services. Figured both lines would be jammed.

Why Ritter was terminated is not my concern. At this point I am only looking out for my clients and my renewals.

Speaking of clients, will I still have access to the agent portal to review communication and claims?

Does this mean I just lost a significant portion of my renewals? Can I switch to another MGA without a hitch? I assume a release is not required.

Well..normally I don't outwardly do this sort of thing, but hey if you need it. We carry Equitable!

 

[Justin Bilyj]

Funny just got a rate increase notice today for my Equitable clients...

 

[somarco]

Did I just "out" Matthew?

Nothing funny about the increases, Justin. I have been dealing with a mess since back in June.

Todd or Matthew, any idea if my renewals will continue and if I can still access the agent portal until contracts are transferred? Do either of you know a GA that has Equitable contracts?

 

[Justin Bilyj]

Did I just "out" Matthew?

Nothing funny about the increases, Justin. I have been dealing with a mess since back in June.

Todd or Matthew, any idea if my renewals will continue and if I can still access the agent portal until contracts are transferred? Do either of you know a GA that has Equitable contracts?

Yeah I've been getting them too, ever since they were bought out - but today seemed uncanny after seeing your thread...

 

[somarco]

I got 53 renewals at one time back in June. Several increases more than 15%. Fortunately many of my clients are in good health. Has made for an interesting summer.

 

[Matthew King]

Okay, so here's what I've got for you so far.

As long as you were being paid directly, you will keep your renewals, you'll also be able to login to the portal under your old agent number, even if you transfer, you will still have access to that portal for quite some time (According to Equitable), you'd get a new agent number with a new contract.

Also yes, I was trying to say, we have contracts with equitable so you could get contracted under us, unless you wanted to try and find someone close to you under us??

I also just tried calling you to kinda go over this with ya

 

[alphawave2k]

I got 53 renewals at one time back in June. Several increases more than 15%. Fortunately many of my clients are in good health. Has made for an interesting summer.

So Equitable = Inequitable Increases?.....glad I have never signed anyone up with them, but I have lost prospects to them. Sorry to hear about your situation, but there probably isn't one single carrier out there that is immune to price hikes...15% is a good ouch!