Release of Agent Information

Aug 18, 2016

  1. pita
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    pita New Member

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    I am an independent agent in Texas. I am contracted with several companies through an IMO. One of the companies that I am contracted with would like me to come on board with them directly. I have only been with this IMO for about 2 months and have not written any business with them through any of the companies I am contracted with. My question is do I need a release if all I want is to be released with this one company not all of them?
    Thanks for the help
     
    pita, Aug 18, 2016
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  2. sman
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    sman Guru

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    Are you going to be an employee of the company or just contracted directly through them? If an employee, then there's really nothing the IMO can do. If just contracted directly, you will likely need a release.
     
    sman, Aug 18, 2016
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  3. pita
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    pita New Member

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    Contracted directly.
    So even if no sales I still need a release?
     
    pita, Aug 18, 2016
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  4. Newby
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    Newby Guru

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    Depends on the company. With some if you go six months with no sales then you can re-contract with no release. With others you have to cancel your contract and then wait six months after your contract is canceled before you can re-contract.

    What will be different if you go Company direct?
     
    Newby, Aug 18, 2016
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  5. pita
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    pita New Member

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    The reason for the ICA is I am new to MA/PD. After reading everything in these posts now I'm not so sure that it is the best thing.

    UHC is the company that I am considering. From a consumer side of insurance UHC has been great, my husband with an MAPD plan and my daughter with a dual plan.
    I understand that as an ICA, any leads from UHC I would be offering only UHC products or MAPD's. If I receive other leads for MA that don't specify a company am I stuck offering only UHC or can I offer others like Aetna or Humana?

    Most of the posts are older that offer info in regards to ICA vs FMO/IMO does anyone have any newer info?
    Thanks
     
    pita, Aug 20, 2016
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  6. Newby
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    That's a question for your UHC upline. You could be either way. But if they are supplying you any quality leads at all they probably want you to be captive. Unless you are paying full cost of their leads.
     
    Newby, Aug 20, 2016
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