New P & C from NYC

[DaveFC]

Please, I need help. I am a tax preparer (about 300 clients) with office in NYC. I obtained my P & C license and got E&O with zero sales. I just spoke with a local agent who has agreed to mentor me. She wants me to draw up a contract. I know I can work very hard to learn much within 3yrs mentorship. Could anyone please, help me with this?

Grateful.

 

[marindependent]

You have no insurance experience and you are starting off setting up your own agency by yourself?

 

[DaveFC]

Yes, that's why i am going for mentorship for P & C only.

 

[Markthebroker]

So you have a mentor for p&c. What is it you are asking for us for help with, then?

 

[marindependent]

I could be wrong, but I think they are asking us for the "mentorship contract."

 

[DaveFC]

So you have a mentor for p&c. What is it you are asking for us for help with, then?

I am just seeking for advice on what should be a fair contractual agreement. The P & C is intended to be just additional sources of income for my other business. Thanks

 

[Markthebroker]

I am just seeking for advice on what should be a fair contractual agreement. The P & C is intended to be just additional sources of income for my other business. Thanks

I have no idea. Perhaps giving them 80% or 100% of the first years commissions would be fair.

Frankly, selling p&c part time is very difficult, and doesn't really make sense. That's why you see very few people doing it, and even fewer people doing it successfully.