My wife and I own an independent insurance agency in Florida specializing in life, health, disability, and fixed income annuities. We have been in business almost 3 years and ready to expand and want to bring on agents as independent contractors. Can anyone advise how to do this properly and compliantly? I am nervous about classifying them as independent contractors when they are acting more like employees for example. The positions would be commission only with extremely aggressive comp plans to make it worth while for them. As independent contractors, can I or should I offer them benefits like 401K, health insurance, etc?
Does anyone know typical E&O cost to add agents under our policy umbrella?
Any advice would be very much appreciated, thanks!
Does anyone know typical E&O cost to add agents under our policy umbrella?
Any advice would be very much appreciated, thanks!