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From the sounds of it they have like 20 employees total. One person in each department. Half of their policies or applications or anything they copied from other companies. They are far from the big boys.
If this scenario you just played out took place. The agents would all go out and rewrite them somewhere else and be fine. I've never had a policy replaced by a phone agent, and I've replaced literally every single telesales policies I've come across. No exaggeration. 100%.
When someone sits on your couch or your kitchen table and they are good at what they do. It builds a trust and relationship. I mean if the agent just let's it happen sure. But if they proactively go back out to those homes and say hey this is what they did. This is their reputation. Look here at their fake Google reviews. ( half of ksjk google reviews are fake., agents, employees, even that tool tony himself and one of his relatives are on there) See this is who they really are. This agent shows them that and what they did. They will rewrite them elsewhere and be able to pay the chargebacks.
These clients didn't buy kskj. They bought the agent. Kskj has no where near the power they think they do. They have some nightmare claims reviews on Google and the wallet one and bbb. All an agent needs to do is a couple minutes of show and tell and then back to their thing.
But none of this matters. They aren't the big boys, they don't have the balls to pull what you described. And if they did I don't know how it got pulled off before but if it happened again spelled out that way. Couple phone calls into vector raising some reasonable doubt of fraud and that vector goes away. Shoot I'd take every single client into the state dept of insurance and point out that they technically replaced all of thier own policies illegally if they didn't use replacement forms by rescinded and rewriting and was not in the clients best interest as it restarted cv and contestability. And see how many it takes till the state drops the company from doing business there.
Which is why this story seems like nonsense and I don't think I believe it happend exactly that way
I understand what you're saying. I felt the name way.
Of course that was the game plan when it happed. My agency all worked door to door. We had good agents. That built good relationships with clients. I had kept every name and phone number and address for every one of my clients.
Got the whole group together. And made the decision to try and retain every app we wrote.
I compiled a list of every single policy holder along with policy numbers and sent to every department of insurance in the 16 states we operated in. Hired a great legal team.
A couple of phone calls to vector would do absolutely nothing. I had signed statements from actual policy holders. Which is what the states department of insurance cares about.
Nothing. No action taken. We counter sued for 30 million. 100 pissed off agents contacting all the people we wrote with them and in the end got a few clients back and got the lawsuit dropped along with ours. That's it. And lost millions in renewals and hundreds of thousands in legal fees.
All the carriers are big boys. They can outspend any agency out there. The lawyers are already on retainer and in the budget. Doesn't cost them extra money.
I visited the am am office a few times. Got the whole tour. Rooftop to basement. Introduced me to everyone there that day.
I thought wow. What a cool building. Met maybe 25 to 30 employees. Seems like a small company.
But that small company was own by industrial alliance and they are worth 33 billion.
You can not win a fight with a carrier. Not to mention it's probably in their contract that they have to go to arbitration.
Honestly. The best bet if you're mad is to sue for unemployment. Not to worry about rolling the biz it won't put a dent in them. But a few million lawsuit for unemployment you have a shot.
Depending on how much the company controlled your business. Did they offer benefits? Did they have locked territories? Did they provide leads? Did they have production quotas? Did they determine who you could and could not contract? Were you termed without cause.
If so you might win for unemployment. If not…
Nothing you can do but move on. It was a bad business decision to work with them.
I hear all the time that 10k of coverage is 10k of coverage. Doesn't matter the company they are all the same.
I don't give two sh*ts about a companies high rates. I consider other things when looking for a contract for myself and my agents.
This exact scenario is what I try to avoid when I'm picking a carrier. I think this is bad for the agents and the clients.
