Non-Competes and Solicitation

[Beth Thornton]

I'm happy to say its been three years and I haven't contacted one of the clients from my old captive agency, but a few contacted me and I had them wait it out. Three years later and I thought I was independent with my new "aggregator" is what they call themselves. I get my Life license and proceed to look for IMO's outside of the group I'm with and find out my contract says I can only do business with their companies #whoa. The first page of my contract states "Property and Casualty" Then low and behold in a section (I must be dumber than a bag of rocks to let this happen to me) I overlooked, it states "I must write all my personal lines, commercial lines, and life and health through them".

They pay me a commission "only" and an over-ride, no leads, no support, no training, I pay for my own rater, phone, 1099 etc., So when I got my Life license I was ready to get direct appointments through an IMO and take advantage of their training and support.

I guess this is what happens when you have no patience, don't read every line, and have been in the industry for less than five years #myexcuses to make me feel better.

So, now I'm looking around like, "Ok, what's the worse that can happen if I do business outside of the agency?" I will not take any clients from them (even though I got them all on my own). I still plan on selling for them, unless they cut me off #ohwell I guess I'll just lose that book of business.

Does anyone know what they can do to me for signing up with an outside IMO and getting direct appointments, separate from them? They have zero support, no training, and no one in our group sells Life insurance, but they want me to go through them for life and I need help and support.

And, yes, I know they will find out. And I actually really like our founder. I did not, however, realize how binding #nopunintended, our contract was and that I couldn't separate my Life from my P&C.

So, gang, what's the worse that can happen?? lol #notreallyfunny

 

[goillini52]

I'm happy to say its been three years and I haven't contacted one of the clients from my old captive agency, but a few contacted me and I had them wait it out. Three years later and I thought I was independent with my new "aggregator" is what they call themselves. I get my Life license and proceed to look for IMO's outside of the group I'm with and find out my contract says I can only do business with their companies #whoa. The first page of my contract states "Property and Casualty" Then low and behold in a section (I must be dumber than a bag of rocks to let this happen to me) I overlooked, it states "I must write all my personal lines, commercial lines, and life and health through them".

They pay me a commission "only" and an over-ride, no leads, no support, no training, I pay for my own rater, phone, 1099 etc., So when I got my Life license I was ready to get direct appointments through an IMO and take advantage of their training and support.

I guess this is what happens when you have no patience, don't read every line, and have been in the industry for less than five years #myexcuses to make me feel better.

So, now I'm looking around like, "Ok, what's the worse that can happen if I do business outside of the agency?" I will not take any clients from them (even though I got them all on my own). I still plan on selling for them, unless they cut me off #ohwell I guess I'll just lose that book of business.

Does anyone know what they can do to me for signing up with an outside IMO and getting direct appointments, separate from them? They have zero support, no training, and no one in our group sells Life insurance, but they want me to go through them for life and I need help and support.

And, yes, I know they will find out. And I actually really like our founder. I did not, however, realize how binding #nopunintended, our contract was and that I couldn't separate my Life from my P&C.

So, gang, what's the worse that can happen?? lol #notreallyfunny

Have you asked for a release? Doesn't sound like they're the type that would do you right.

 

[Beth Thornton]

Have not because I really didn't want to give up my current book of business and I'm super cool with a lot of my clients - I also don't want to stop selling P&C (I use about ten of their major carriers ) most of my money comes from commercial transportation & rental property risks.

Im also going to be getting my Florida license thats where I'm from and they're not licensed down there with anyone.

 

[marindependent]

"I must write all my personal lines, commercial lines, and life and health through them".

...sounds like you are not really an independent.... perhaps its time to move on here.

 

[Beth Thornton]

...sounds like you are not really an independent.... perhaps its time to move on here.

Thanks for your reply - Yeah, not only am I not independent, I must also be an ***. I don't know what I was thinking when I signed this - the opening title says "Independent Contractor / Exclusive Agent Agreement". My main concern is if they don't agree to let me go or sell my Life Insurance separately, what's the worse they can do, does anyone know?

 

[somarco]

Every state with the exception of Montana is an at-will employment state. Under the at-will employment policy, either the employer or the employee can terminate employment at any time for any reason (unless it's illegal and proven wrongful termination, which is hard to do) without consequence — unless the employee has a contract or a union agreement that states otherwise.

https://fairygodboss.com/career-topics/is-ohio-a-right-to-work-state

 

[goillini52]

Thanks for your reply - Yeah, not only am I not independent, I must also be an ***. I don't know what I was thinking when I signed this - the opening title says "Independent Contractor / Exclusive Agent Agreement". My main concern is if they don't agree to let me go or sell my Life Insurance separately, what's the worse they can do, does anyone know?

Time to "Bring It To The Forum". What's the name of your FMO?

 

[romeroaaron]

Time to "Bring It To The Forum". What's the name of your FMO?

The question everybody is asking

 

[Fire]

2 agents who I believe have been on this board lock you up for 5 yrs on their Medicare contracts if you take lead subsidy's . Their names are Duford and Mungia . To be fair Duford tells you that upfront . But you got ti be crazy to sign that .

 

[Bill Billock]

Here is the harsh realty to non-competes etc. We can say they are not enforceable until we are blue in the face. The facts are this….if someone wants to sue you and they have more money to spend than you, it doesn't always matter who is right or wrong. You will still have to decide if and how much money to spend to fight back in the event it happens.

just some food for thought….