Hiring Producers

[rockland]

Hi,

I'm new to this forum but have been in business for 18 years as an independent agency in Houston. I just want to get other ideas as to retaining producers and what kind of salary / commission splits other agents out there have. We currently have 4 producers working off of splits 75/25 and 60/40 on renewals. I also allocate $400 per month per employee for car and gas expense... also offer 401K. In your opinion, what would you do or have you done? Im looking at bringing on a couple more this year to focus on certain niches. Thanks!

 

[Houston1969]

Rockland,

I am here in Houston....What niches are going to market?

Thanks,

Houston1969

 

[warnerins]

Rockland,

I am here in Houston....What niches are going to market?

Thanks,

Houston1969

Don't fall for it it's a trap!!!!!!!!!!

Seriously, I don't have an answer for you regarding what is common in this situation. There are tons of threads in this forum (though) that are right up your alley.

Just curious -

Have you found the headaches of a producer and extra exposure on your E&O worth the 25% split.

How long do these producers stay with you and what happens to their book when they leave.

In your experience why are these producers with you (splitting commissions) when they could be out on their own? Is it the carrier access, the office space and are you covering their E&O expense.

Are you captive or independent? Mostly personal lines or commercial lines?

How are commissions, charge backs tracked? If there are several carriers that you represent, is it an accounting nightmare?

Are there territories that are assigned for each agent and who services the clients with the day to day servicing situations.

Is there a specialist in the office that handles the whole book for life, health and investments? If so how is this split?
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[skenderbeu14]

Hi all,
I have been a freelancer in paralegal services for over 7 years and now would like to enter the insurance field. I am in the Dallas area and my primary share of the market will be my own ethnic community. I would be interested to work with P&C, Life Health and Commercial liability and workers comp. Any advise will be greatly appreciated. I am currently researching the licensing process through Prometric. Thank you, Skenderbeg