New Agent Commission Plan and Marketing Issues

Hi All, Thanks for all the help and insight on this forum so far. I am a new p&c producer for an independent agency, about 7 months in (new to insurance biz also) Things are going well. I'm getting in some doors and marketing is having trouble keeping up. I have a few questions/concerns and I hope you can provide some insight.

I am generating a lot of opportunity and want to make sure I'm in the right place.

1) Do every agency have trouble marketing and getting quotes in time for renewal. on smaller premiums I've been told we don't have any markets available when I know we are the only ones in there. Is this common

2) My commission structure is base plus commission for the first 3 years, which is helpful. However, I get paid 50% of agency commission on new business and on 25% on renewals that gross above $1500 in agency commission. Also, I have yet to see one commission check on deals I've closed so far. Is it common to have to fight for your commission?

3) Lastly, I don't own my book. Should I find a agency that allows me to keep it?

I know this is a long post with a lot of personal questions but I am hoping the community can help shed some light. I know I can be successful in the business but I want to make sure I am in the right place.

Sincerely,

K.
 
Hi All, Thanks for all the help and insight on this forum so far. I am a new p&c producer for an independent agency, about 7 months in (new to insurance biz also) Things are going well. I'm getting in some doors and marketing is having trouble keeping up. I have a few questions/concerns and I hope you can provide some insight.

I am generating a lot of opportunity and want to make sure I'm in the right place.

1) Do every agency have trouble marketing and getting quotes in time for renewal. on smaller premiums I've been told we don't have any markets available when I know we are the only ones in there. Is this common

2) My commission structure is base plus commission for the first 3 years, which is helpful. However, I get paid 50% of agency commission on new business and on 25% on renewals that gross above $1500 in agency commission. Also, I have yet to see one commission check on deals I've closed so far. Is it common to have to fight for your commission?

3) Lastly, I don't own my book. Should I find a agency that allows me to keep it?

I know this is a long post with a lot of personal questions but I am hoping the community can help shed some light. I know I can be successful in the business but I want to make sure I am in the right place.

Sincerely,

K.

K.

7 months going and 1. have not received any commissions 2. do no know why.

You really need to rethink your producer situation with this agency. Did you sign any agreement? That agreement should clearly spell out what you get paid, when you get paid, and opportunity for ownership down the road.

Sounds like you may be writing accounts below some determined premium threshold?

After 7 months...really!
 
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