How to report an Insurance Broker in Texas?
- Thread starter Shmitty
- Start date
- Staff
- #2
Why the hate bro.....what did they do....
- Thread starter
- #3
- Staff
- #4
yeaaaaa.....going to need a little more info......
Need much more information.
- 11,467
Unless and until a consumer is harmed, they won't care. And when a consumer is harmed, THEY'RE the ones to file the complaint, not a competing agent.
- Thread starter
- #7
I changed the names, etc so as to not revealed detailed/sensitive info.
XYZ Insurance and Capital hired me off of Indeed (as an independent contractor and sales lead generator) to generate leads and appointments for the insurance side of their company. Everything contractual wise was done either over email or over the phone. The pay structure was vague and all I was sold on by the owner was that I had the potential to make great money, but that it would be commission-based with no base pay. Keep in mind that I am not a licensed agent (my license expired 2 years ago and I made this clear to them). They never told me a commission percentage, etc till well within 2 months after getting started.
But since it was commission-based and I wasn’t in a financial position (I had very little money) to accept a commission-based opportunity, they agreed to advance me enough $ to cover half a months expenses through four checks for the first four weeks) provided that I met specific metrics (so many calls, emails, written letters, etc to prospects).
Within two weeks of getting started, I generated a lead that resulted in a big sale to ABC LLC for a policy covering Five Franchise locations in the DFW area. The owner, had implied (over the phone) that this was a big sale that would be big enough to cover both the loan and enough to pay me a commission. Over the phone he told me that I would stand to make several hundred dollars from their sale of the policy. The policy was sold by XYZ Insurance and Capital in late August. From late August to late October I had to repeatedly ask The owner how much the commission would be and when I could expect it. Repeatedly, he would change the subject and evade giving me a definitive answer. BTW, I had saved many of those communications from our Ring Central chats and emails. My patience had worn thin and I had made fewer and fewer calls and emails for them until I had stopped completely, seeing as I could sense I was being strung along.
Nevertheless in mid-November, I get an email from him stating that my commission was only three fourths of what they advanced me and that I now owe them $$$ ( I have the email, invoice, etc). Feeling that I had been lied to (or atleast mislead) I told them that I intended to file a wage claim with TWC and report them to TDI. He then replied, with an email, excoriating me and trying to intimidate me into not reporting them.
So here I am trying to figure out if I have any legal recourse?
XYZ Insurance and Capital hired me off of Indeed (as an independent contractor and sales lead generator) to generate leads and appointments for the insurance side of their company. Everything contractual wise was done either over email or over the phone. The pay structure was vague and all I was sold on by the owner was that I had the potential to make great money, but that it would be commission-based with no base pay. Keep in mind that I am not a licensed agent (my license expired 2 years ago and I made this clear to them). They never told me a commission percentage, etc till well within 2 months after getting started.
But since it was commission-based and I wasn’t in a financial position (I had very little money) to accept a commission-based opportunity, they agreed to advance me enough $ to cover half a months expenses through four checks for the first four weeks) provided that I met specific metrics (so many calls, emails, written letters, etc to prospects).
Within two weeks of getting started, I generated a lead that resulted in a big sale to ABC LLC for a policy covering Five Franchise locations in the DFW area. The owner, had implied (over the phone) that this was a big sale that would be big enough to cover both the loan and enough to pay me a commission. Over the phone he told me that I would stand to make several hundred dollars from their sale of the policy. The policy was sold by XYZ Insurance and Capital in late August. From late August to late October I had to repeatedly ask The owner how much the commission would be and when I could expect it. Repeatedly, he would change the subject and evade giving me a definitive answer. BTW, I had saved many of those communications from our Ring Central chats and emails. My patience had worn thin and I had made fewer and fewer calls and emails for them until I had stopped completely, seeing as I could sense I was being strung along.
Nevertheless in mid-November, I get an email from him stating that my commission was only three fourths of what they advanced me and that I now owe them $$$ ( I have the email, invoice, etc). Feeling that I had been lied to (or atleast mislead) I told them that I intended to file a wage claim with TWC and report them to TDI. He then replied, with an email, excoriating me and trying to intimidate me into not reporting them.
So here I am trying to figure out if I have any legal recourse?
- Thread starter
- #8
- Staff
- #9
no you don't.......
- Thread starter
- #10
According to what? As a broker, are you capable of being objective?
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