FE Companies in NY

[Bishop Don Shizzle]

That's what I said. Nanny state.

Well as far as I am concerned, that Nanny state has the city that is the capital of the [financial] world.

 

[Newby]

Well as far as I am concerned, that Nanny state has the city that is the capital of the [financial] world.

Aren't they the Capitol of welfare too?

I'm sure New York has a lot of great things going for it but I think we can all agree, they even beat California in nut job political wack-a-doos.

They think the American public is stupid and want to line their pockets "protecting" them from evil for profit businesses.

 

[Bishop Don Shizzle]

Aren't they the Capitol of welfare too? I'm sure New York has a lot of great things going for it but I think we can all agree, they even beat California in nut job political wack-a-doos. They think the American public is stupid and want to line their pockets "protecting" them from evil for profit businesses.

No, Cali is the capital of welfare. Although I thought it would be Georgia or some other southern state. Don't forget Newby, your 2 favorite senators are from Cali: boxer and Feinstein! Btw, the biggest wack-job I know of is that tea-bagger, Mourdock from Indiana.

 

[Josh]

No, Cali is the capital of welfare. Although I thought it would be Georgia or some other southern state. Don't forget Newby, your 2 favorite senators are from Cali: boxer and Feinstein! Btw, the biggest wack-job I know of is that tea-bagger, Mourdock from Indiana.

NY is right up there. Of course it sounds like you're from the city so you're ignoring what geographically is most of the state, but most of upstate is either farm or old manufacturing cities that have had companies fail out or leave. The most financially responsible governor the state had seen was Patterson, no chance he'd ever get elected.

NY is one giant blue state, social programs and all. I voted with my feet and left. Not saying NY isn't great, but they do have a lot of social programs and high taxes to fund them. Also, the insurance market there is a mess to put it mildly.

 

[Bishop Don Shizzle]

NY is right up there. Of course it sounds like you're from the city so you're ignoring what geographically is most of the state, but most of upstate is either farm or old manufacturing cities that have had companies fail out or leave. The most financially responsible governor the state had seen was Patterson, no chance he'd ever get elected. NY is one giant blue state, social programs and all. I voted with my feet and left. Not saying NY isn't great, but they do have a lot of social programs and high taxes to fund them. Also, the insurance market there is a mess to put it mildly.

I'm actually from SoCal. I much prefer NYC. In a way you are hitting on something. Red states seem to have lower budget deficits and debt, along with lower taxes and lower crime. I know that is an over generalization but you get the point.

 

[goillini52]

You all are so young.... It was not too long ago, 1970's-1980's that almost every company was in NY....

The switch came with the switch in commission. commission moved from the agency to the agent at the end of the 1980's and with it an expansion of companies offering products direct to the agent.....

NY Commission $$$ are regulated and an agent cannot make direct commission over 60% FYC.... Most NY based comp has a cap of 100% FYC which includes overrides and Expense Reimbursement..... The real comp in NY is the Renewals.... Most Agency Renewals are in the 20-30% range in years 2-5.... while the agent is paid 5-20% depending on what the agency gives up.

Most IMO's that are not NY based do not distribute the same as a NY based IMO because they look at renewals differently.....

Nowadays, agents want 120% FYC, never gonna happen in NY, so that is why each of the FE companies listed by Newby have a separate subsidiary based in NY and all other agents have a separate company not in NY that the rest of the country use.....

Smaller companies (MOST of the FE market) do not want the expense of maintaining 2 home office staffs, so that is why you see less FE companies in NY.

I remember that Torchmark had a separate subsidiary based in NY and I've noticed many other companies doing that over the years....or just opting to not do business there.

 

[Bishop Don Shizzle]

I remember that Torchmark had a separate subsidiary based in NY and I've noticed many other companies doing that over the years....or just opting to not do business there.

I just don't get it. Millions of potential clients in one city. Where are the lobbyists when you need them?

 

[goillini52]

i just don't get it. Millions of potential clients in one city. Where are the lobbyists when you need them?

public campaign action fund $464,823.00
greater new york hospital association, subsidiaries & affiliate $317,884.00
united teachers (nys) $296,736.00
united federation of teachers $254,022.00
campaign for one new york, inc. $235,948.00
healthcare association of new york state $204,119.00
genting new york llc $160,545.00
public employees federation (nys) $158,789.00
medical society of the state of ny $148,352.00
open space institute, inc. $137,195.00

 

[Bishop Don Shizzle]

Royal Arcanum Mutual of Omaha Columbian Foresters TransAmerica Occidental Gerber Vantis Are all in New York Just set FEXQuotes on any state and you can see the companies in that state. Adam might be missing a few, but not many.

Would I have to go with a separate IMO for these companies that operate in NY?

For instance, if I am already with Foresters, Trans, Gerber and MoO; do I get a 2nd writing number for NY?

 

[TwiLight]

Would I have to go with a separate IMO for these companies that operate in NY?

For instance, if I am already with Foresters, Trans, Gerber and MoO; do I get a 2nd writing number for NY?

Not every IMO is approved for NY.... Each top IMO has a separate schedule for NY for Foresters, Transamerica and MoO.

For these companies if your IMO is not approved, you would need a release and move IMO's