Is This a Fair Split from a General Agency?

[argyle]

I started writing with an agency with 65% on new & renewals, for 2 years and then I started getting my own direct appointments.

what agency did you use? was it a wholesaler?

Thanks for your help. You are always so good about responding.

 

[tospears]

Wholesalers are a necessary evil. Their fees will sometimes make the premium a uncompetitive, but for new guys its good becuase you can't get direct appointments. Starting out I got 50/50 new and renewals with E&O, and some marketing. I was in college at the time, so this wasn't a bad split for me. I would definitely consider insurance noodle or other guys like that.

 

[argyle]

Wholesalers are a necessary evil. Their fees will sometimes make the premium a uncompetitive, but for new guys its good becuase you can't get direct appointments. Starting out I got 50/50 new and renewals with E&O, and some marketing. I was in college at the time, so this wasn't a bad split for me. I would definitely consider insurance noodle or other guys like that.

Is there a difference between a General Agency and a Wholesaler?

 

[jamis0n]

In any way that matters, no, GA and wholesalers are the same...

I find it curious that you're working for a GA yet it sounds like you're selling retail, is that correct?

Either way 65% is good, assuming you don't have to service your own clients and that they are providing that support.

 

[argyle]

In any way that matters, no, GA and wholesalers are the same...

I find it curious that you're working for a GA yet it sounds like you're selling retail, is that correct?

Either way 65% is good, assuming you don't have to service your own clients and that they are providing that support.

Not sure what you mean by "selling retail". I am new to the business so excuse my lack of expertise. I thought that the options for new agents were to work for a GA/Wholesaler or a be captive.