P & C license, transacting on behalf of employer and self employed

[ljacobs]

Hi All...

I desperately need help! I am new to this community. I am currently employed with a P & C broker in Southern Calif. and have been in the industry for 10 yrs now. I am now ready to start my own agency with my partner. However, since we do not have a book of business, I am going to continue to work as an employee, while starting my own p & c agency. The obvious reason is that the start up won't support my salary. So, I am doing both....i.e., continue to be an employee and starting my own agency and slowly build my own book. Now, I am not going to compromise my integrity and steal clients from my current employer. I am going to start fresh and get my own clients for my start up. I need help as follows:

1) My p & c license is currently showing that I am transacting business on behalf of my current employer (e.g. ABC Ins. Brokers). Can I transact biz for both my current employer and my new start up company?
2) If yes to (1), how can I remain discreet? I don't want my current employer to know that I am starting my own agency since they will probably notice an additional entity name added to my license when they renew my license. In other words, my license willl show my employer entity and the name of my start up entity...

Any insights and mentoring would be greatly appreciated.

Thank you, Larry

 

[saieddie]

Since the information comes directly from the insurance commissioner, I don't know how you can keep your current employer from seeing all your appointments. If your partner doesn't work for an insurance agency, I'd have them put the appointments in their name and write all the business through them until you can leave your current employer.

 

[Guest]

Re: P & C license, transacting on behalf of employer and self emp

Where is Rabbi? Are we able to bash this person for the 4 year old thread?

 

[athena1]

Since the information comes directly from the insurance commissioner, I don't know how you can keep your current employer from seeing all your appointments. If your partner doesn't work for an insurance agency, I'd have them put the appointments in their name and write all the business through them until you can leave your current employer.

very good answer. This way you have no paper trail.

 

[Guest]

very good answer. This way you have no paper trail.

If we bash for bumping a 4 year old, then how savage should we get on someone for bumping a 5 year old thread?