Life Agency looking to send clients to P&C in California?

Greg007

New Member
1
My agency is focus on Life, Long Term Care, and Annuity. My agency is also licensed in P&C but at this moment, I have no intentions of wanting to operate and run a P&C department.

1) I was wondering what is a fair commission split for new business and renewal business if my agency send clients to a P&C broker?

2) Would it be fair if I retain the rights to the clients I send there?

3) And finally, how and where do I find such a partner? My thought was to go door to door with Independently owned P&C broker and ask if they want business coming their way? Or is there a national company that we can contract with?

Your thoughts are appreciated! Feel free to PM me as well for ideas.
 
My agency is focus on Life, Long Term Care, and Annuity. My agency is also licensed in P&C but at this moment, I have no intentions of wanting to operate and run a P&C department.

1) I was wondering what is a fair commission split for new business and renewal business if my agency send clients to a P&C broker?

2) Would it be fair if I retain the rights to the clients I send there?

P&C agents make long-term money on the renewals. If you're doing well as a life, LTC, and annuity agent... why would you care about a commission split for P&C? Just give that away and let them do their best work and you do your best work.

The only way to retain the rights to the clients referred - other than by written agreement... is to be the writing agent. I wouldn't worry about it. Let the P&C agent do what they do best.

The only criteria I would look for in a P&C partner is one who is not licensed in what you do. Or, if they are, they are in a specialty that you don't cover - such as health insurance, medicare supplements or whatever.

3) And finally, how and where do I find such a partner? My thought was to go door to door with Independently owned P&C broker and ask if they want business coming their way? Or is there a national company that we can contract with?

Your thoughts are appreciated! Feel free to PM me as well for ideas.

There's NAIFA, your local chamber of commerce, your CLIENTS who have bought policies from their local independent agent. Just ask around.
 
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