Release of Agent

[Franz Kafka]

Hello everyone. I am Franz Kafka and have just joined up today. I am a second year agent and don't know much.

I have always been a little confused about the whole agency/agent relationship and have a question.

I recently left an independent agency and called the carriers to ask how I could change agency. The carriers said my old agency would not release me. I contacted the old agency and they said they would give me a GA appointment with them.

My question is does the old agency have the right not to release me as their agent? If they can, how long do I need to wait before I get released? and Does this mean I cannot get re-appointed with carriers I worked with under the old agency?

I would truly appreciate if someone could explain this to me. Thank you.

 

[GreenSky]

Hello everyone. I am Franz Kafka and have just joined up today. I am a second year agent and don't know much.

I have always been a little confused about the whole agency/agent relationship and have a question.

I recently left an independent agency and called the carriers to ask how I could change agency. The carriers said my old agency would not release me. I contacted the old agency and they said they would give me a GA appointment with them.

My question is does the old agency have the right not to release me as their agent? If they can, how long do I need to wait before I get released? and Does this mean I cannot get re-appointed with carriers I worked with under the old agency?

I would truly appreciate if someone could explain this to me. Thank you.

There is an agreement between marketers and carriers that require either a release or (typically) 6 months of inactivity to move your contract. It is one of the most dishonest piece of the FMO/IMO system.

You might go to your current agency and tell them you'd be happy to contract as an independent if they give you a guarantee of a future unconditional release if it doesn't work out.

By the way, what is the name of this agency so we can put them on our "sh*t list?"

Rick

 

[Franz Kafka]

There is an agreement between marketers and carriers that require either a release or (typically) 6 months of inactivity to move your contract. It is one of the most dishonest piece of the FMO/IMO system.

You might go to your current agency and tell them you'd be happy to contract as an independent if they give you a guarantee of a future unconditional release if it doesn't work out.

By the way, what is the name of this agency so we can put them on our "sh*t list?"

Rick

Thanks for the reply.

I am a Career Agent now at the new agency and the new agency said I could get direct appointed with any carrier as Outside Business but I cannot get GA appointed with the old agency.

I would be happy to give you the name of old agency "privately" and you can add them to the list. Is that OK?

 

[GreenSky]

Thanks for the reply.

I am a Career Agent now at the new agency and the new agency said I could get direct appointed with any carrier as Outside Business but I cannot get GA appointed with the old agency.

I would be happy to give you the name of old agency "privately" and you can add them to the list. Is that OK?

Go ahead and post the name. You're not saying anything not true, right?

Rick

 

[Franz Kafka]

Go ahead and post the name. You're not saying anything not true, right?

Rick

ICM

 

[TradeCraze]

Hello I am with an IMO that will not release me from companies I have done no business with ... do I have any options?

 

[Todd King]

Hello I am with an IMO that will not release me from companies I have done no business with ... do I have any options?

Yes, pick up other companies to write with while you wait out your 6 months. After you go for 6 months and don't write any business, you should be able to move your existing contracts.

This is just rule of thumb to go by.

With some companies you may be able to dual contract too.

 

[Newby]

Hello I am with an IMO that will not release me from companies I have done no business with ... do I have any options?

Also with some companies you have to call them up and actually cancel the contracts and then wait 6-months to recontract. Oxford and 5-Star come to mind on that rule. If you don't cancel the contract you can never transfer it no matter how long you go with no sales.

----------

Hello I am with an IMO that will not release me from companies I have done no business with ... do I have any options?

Plus the best weapon you have to get released is this forum. If you let the agents on the forum know the name of the FMO that won't release you it will keep other agents from going there and sometimes they will release you to get you to let everyone know they did.

 

[WinoBlues]

Also with some companies you have to call them up and actually cancel the contracts and then wait 6-months to recontract. Oxford and 5-Star come to mind on that rule. If you don't cancel the contract you can never transfer it no matter how long you go with no sales.

----------



Plus the best weapon you have to get released is this forum. If you let the agents on the forum know the name of the FMO that won't release you it will keep other agents from going there and sometimes they will release you to get you to let everyone know they did.

:twitchy: Love it. An FMO telling you how to get an FMO to act right. Here here. That is what I like about the majority of the marketers here, Most are straight up guys.

 

[TradeCraze]

So I should name the IMO ... I am trying to allow them time to do the right thing. How long should I wait?