KSKJ info needed

[PA Bill]

Trans may terminate your contract with them for cause and then you lose all your renewal income???

Yeah, companies don't like it when we throw them under the bus for our own self interest, in the name of "doing right by the client". Agents forget they are not brokers in the legal sense. Our contracts state we are agents of the company and have contractually agreed to represent the company, not the client..

 

[Todd King]

Yeah, companies don't like it when we throw them under the bus for our own self interest, in the name of "doing right by the client". Agents forget they are not brokers in the legal sense. Our contracts state we are agents of the company and have contractually agreed to represent the company, not the client..

I've been pretty successful all these years in letting the company believe I actually represent them above the client.

 

[mudhound]

Me 2

 

[Life Hawk]

Yeah, companies don't like it when we throw them under the bus for our own self interest, in the name of "doing right by the client". Agents forget they are not brokers in the legal sense. Our contracts state we are agents of the company and have contractually agreed to represent the company, not the client..

That being said... we are also bound by an ethical responsibility to look to the client's best interest... so which comes first... the chicken or the egg?

I will bet you a dollar to a whole in a doughnut that a court would lean toward the client and away from the company.

 

[VolAgent]

That being said... we are also bound by an ethical responsibility to look to the client's best interest... so which comes first... the chicken or the egg?

I will bet you a dollar to a whole in a doughnut that a court would lean toward the client and away from the company.

If a court case came down to client vs. company, sure. But instead you'll be terminated for cause for violating your contract, and their attorneys will nail your hide to the wall for it.

 

[Life Hawk]

If a court case came down to client vs. company, sure. But instead you'll be terminated for cause for violating your contract, and their attorneys will nail your hide to the wall for it.

For what? Not quite sure what you are referring to?

My statement stands on its own... an agent has an ethical duty to their client beyond that of the contractual duty to the company.

 

[Life Hawk]

And pulling from another thread here... it would seem that the agents and the companies may not be the ones to be scrutinizing. It would seem to me by some of the recent post on other threads that the IMO's and FMO's are the the ones of whom you may be referring to.

 

[VolAgent]

For what? Not quite sure what you are referring to?

My statement stands on its own... and agent has an ethical duty to their client beyond that of the contractual duty to the company.

Your duty to your client is to make a suitable recommendation. You are not a fiduciary. If you made a suitable recommendation originally, then it stands.

If you roll business away from a carrier, you are violating your contract and your duty to them as an agent. They can terminate you for it. If you wanted your contract back, you'd have to sue them. That is when it would get to a courtroom, and that is when they'd nail you to the wall.

If you systematically rolled your book, they may take you to court as well as terminate your contract. And again, they'd nail you to the wall for it.

 

[VolAgent]

And pulling from another thread here... it would seem that the agents and the companies may not be the ones to be scrutinizing. It would seem to me by some of the recent post on other threads that the IMO's and FMO's are the the ones of whom you may be referring to.

Exactly.

An agent rolling his own book is easier to spot. An IMO having another agent go in and do the rolling is harder.

 

[goillini52]

For what? Not quite sure what you are referring to?

My statement stands on its own... an agent has an ethical duty to their client beyond that of the contractual duty to the company.

I also feel that my 1st responsibility is to my client. They are MY client, not the company's. I found them, the company didn't.

I know we're talking FE here, but it's common place to replace your own clients with new Med Supp companies. If you don't do it, another agent will.