Multiple Agents Submitting to One Company

[mjp19]

Hello, and thank you in advance for your help.

I was just having a discussion with some of my colleagues who have been in the business for longer than I have and I had a question regarding the captioned topic. If anyone knows a definite answer to this, I would appreciate knowing!

For the example, agent one is Rob and agent two is Betty. There are three insurance companies, Big Blue, Little Green, and Huge Purple. Rob works for a large agency with access to all three insurance companies. Betty works for an agency owned by Little Green and only writes policies for Little Green.

Let's say a client submits an application to me and then I submit this information to Rob and Betty. My colleagues tell me that if Rob submits this to Little Green first, the company then will not quote it for Betty.

I can understand why this would be done, but has anyone had any experience with this where they told Rob to only quote specifically with other companies and not with Little Green? What happens if Rob doesn't listen? Can I then not correct the issue and place the policy through Betty?

Thanks,
Matt

 

[Todd King]

First off you have to make your description of this just a little clearer. Why would you submit business to both Rob and Betty at the same time? Why do you have to submit business to anybody but the company anyway? Are you licensed with "little green" through both Rob and Betty? If you are only contracted through one of these people then the one you're contracted with should submit the business. If you have your writing # on the clients application you will get paid and your upline with whom you're appointed through will get paid too. So it may not matter who the business is actually submitted by.

 

[bobson]

I'm confused on the premise. If you are an agent why are you submitting the business through two other agents? And if you are brokering it through another agent why do you care whether Rob or Betty submits it somewhere? Little Green is Little Green, right? Maybe not I guess.

I had an account we submitted through one GA and the insurance company refused to quote because it didn't quite fit the guidelines of the company. The GA did not write enough business with the company so the company wouldn't make an exception for the intial GA. We submitted it through another GA that did more business with the company and we were able to write it.

I guess it doesn't matter.

The simple answer is you can get an 'agent of record' letter signed by your client giving you permission to submit it to whomever.

If for some reason you wanted Betty to quote it through Little Green but Rob had already submitted it to Little Green for you, you could present a signed AOR to Betty to present to Little Green and they would quote it for Betty who is quoting it for you, thereby locking out Rob from being able to get a quote. Hopefully Rob doesn't find out, he might not be happy.

This is a P&C forum and P&C is very differnet from L&H

 

[mjp19]

An Agent of Record letter! I should have thought of that.

And to clarify, I'm a Broker, not an agent. We're trying to get a direct market with "Little Green," and commissions are higher through their exclusive agency. This particular situation was hypothetical, and not one I've been in yet.

 

[Soaringagent]

Broker of record letter

 

[insuranceexec]

Hello, and thank you in advance for your help.

I was just having a discussion with some of my colleagues who have been in the business for longer than I have and I had a question regarding the captioned topic. If anyone knows a definite answer to this, I would appreciate knowing!

For the example, agent one is Rob and agent two is Betty. There are three insurance companies, Big Blue, Little Green, and Huge Purple. Rob works for a large agency with access to all three insurance companies. Betty works for an agency owned by Little Green and only writes policies for Little Green.

Let's say a client submits an application to me and then I submit this information to Rob and Betty. My colleagues tell me that if Rob submits this to Little Green first, the company then will not quote it for Betty.

I can understand why this would be done, but has anyone had any experience with this where they told Rob to only quote specifically with other companies and not with Little Green? What happens if Rob doesn't listen? Can I then not correct the issue and place the policy through Betty?

Thanks,
Matt

Did you help write the questions for the LSAT exam?.....LOL.

Or is that a question for an agent.