Setting Up My Own General Agency

Discussion in 'General Insurance Agent Discussions' started by nbn1028, Jun 16, 2010.

  1. nbn1028
    Offline

    nbn1028 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    South Carolina
    What's it take to create your own General Agency that gets appointed with overrides by the carriers. I can pull in 30+ agents and was looking to split off from my current GA.

    Pros ...... Cons ?????
     
  2. Crabcake Johnny
    Offline

    Crabcake Johnny Well-Known Member

    Posts:
    14,814
    Likes Received:
    8
    State:
    South Carolina
  3. nbn1028
    Offline

    nbn1028 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    South Carolina
    Indvidual lines starting with health
     
  4. Crabcake Johnny
    Offline

    Crabcake Johnny Well-Known Member

    Posts:
    14,814
    Likes Received:
    8
    State:
    South Carolina
    I wait and see what the comp structure will be like before starting anything agency that's health related.
     
  5. nbn1028
    Offline

    nbn1028 New Member

    Posts:
    3
    Likes Received:
    0
    State:
    South Carolina
    Yes, agree but if my GA is going to squeeze me out of overrides for my team, was thinking about taking my team with direct to the carriers.
     
  6. Crabcake Johnny
    Offline

    Crabcake Johnny Well-Known Member

    Posts:
    14,814
    Likes Received:
    8
    State:
    South Carolina
    You can't do that unless you can meet each carrier's production requirements. Additionally, if you really want your own carrier direct GA contracts and plan on advancing your agents, at minimum you'd need around 50K liquid to offset chargebacks.
     
Loading...

Share This Page