Producer/Account Executive

[Crys]

Hello All: I have been in the industry for 13 yrs. I have been on all sides of the fence.. regulation, agent, underwriting and I have a few designations. I am now on my way to open my own independent P & C agency.
I am looking for great starter tips. Any advice is appreciated...
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[CHUMPS FROM OXFORD]

Know your competition. Know which carriers have the best rate in EACH of the counties and zip codes within a 2-hour radius.

Hire someone to build a website. Not just anyone. Write your own content. Add fresh content every week. Be unique.

 

[VolAgent]

Any chance you would share some insight into the mind of a regulator along the way?

I think its fair to say most agents don't have a flattering opinion of the regulators that deal with agents. What is a regulator's opinion of us?

 

[Crys]

Hi VolAgent: I worked as an investigator and I found that the only time I personally had an issue with agents is when it did not have agency log notes to support there position in a complaint, unruly bookkeeping, and lied to cover up mistakes. It is best to be honest if there is an investigation of an agent or agency. Honestly, it only gets ugly if a regulator can find a statue to support that the agent was not in compliance with the law. Regulators just want to protect the consumers. They are not out after the agent unless the agent is in the wrong. My personal view is that regulation larger focus is on the insurer. While I was in that position more complaints came in on the company not the agent. Hope this answers your question..

Any chance you would share some insight into the mind of a regulator along the way?

I think its fair to say most agents don't have a flattering opinion of the regulators that deal with agents. What is a regulator's opinion of us?

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Thanks Chumps from Oxford: How exactly do you go about discovering who has the best rate in the counties and zip codes?

Know your competition. Know which carriers have the best rate in EACH of the counties and zip codes within a 2-hour radius.

Hire someone to build a website. Not just anyone. Write your own content. Add fresh content every week. Be unique.

 

[VolAgent]

What did you investigate, primarily P&C?

 

[Crys]

Yes, P&C only...But the laws for regulating a P&C agent vs. a L&H are very much the same when it comes to prohibited practices.

What did you investigate, primarily P&C?