Is This Fair?

[brwirt]

This is my first post, welcome all fellow insurance agents.

I am currently working for an agent that recruited me strictly to sell Commercial insurance through Travelers and The Hartford. Without his help in the form of his experience and his book of business I highly doubt I would qualify to get an appointment directly with both companies. The agreement is such that he incurs the cost of my E&O, however, I bear the burden of all other costs since no office was made available and I must work from home.

My question is for all you independents out there. The agreement with respect to commission is a 70(me)/30(him) split on advanced commissions and 30(me)/70(him) on renewals.

Does this sound fair?

 

[Philly]

Yes it does

 

[lflashman]

If he's teaching you the business and you would otherwise not even get your foot in the door, it sounds fair to me. If he's allowing you to work his book of business, then I'd say it's more than fair.

 

[brwirt]

Thank you. I wasnt sure if this was an equitable tradeoff.

 

[Belmont]

In my view the way Travelers and The Hartford are approaching is sounds good. This approach will meet both sided demands.