Telling Client to Take a Hike ???

[buttercup79]

Don't change your pattern, I was reading the IAA group agency guide, It has your situation in it." deviation from your established procedure could result in an E&O claim. This is an abreviated version.

Amen, and if you do it for one, you have to do it for ALL... again another E&O issue.
But at renewal if you put him on finance agreement then you don't have to worry about it as it is then in their hands (or still yours if you call on late pays for fin. agreements).
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This is not a charity, it is a business. Send him written notice that due to internal changes to operating procedures, you will not be able to call to remind him about premium payments. That will help address the current E&O exposure you have with this process. Then, if you are not going to call every single customer about payments, don't call any of them. If you change to annual pay, that is fine on the front end, however you need to have a plan in place for endorsements during the year or you are back to square 1. If it were me, i would tell him to take a hike.

PERFECT!! Couldn't have said it any better (just make sure you change or make a procedure in office in writing for this so he can't come back on you after the fact)

 

[b61mack]

3200 in commission, is not to bad.

 

[cottonland]

3200 in commission, is not to bad.

Not until it costs you a couple hundred thousand in an E&O claim...... It ain't worth it.

 

[Matt37]

Not until it costs you a couple hundred thousand in an E&O claim...... It ain't worth it.

Yup.

And really on the P&C side of things.. a $30k account is not exactly considered enormous.. certainly not big enough to go on over.

example my agency has a $15k minimum on any account.. or it is a house account.

I know an agency in Philly that does govt work... they have a $50k minimum!!!

I befriended a broker there.. he would always call me with contractors accounts that were $30-$40k in premium and say they were to small for him to do the paperwork on..

But also like someone else said.. our CSRs do a great job at our agency... I am really not involved in terms of renewal unless there is issues with non renewal, needing to find a new market, etc.

 

[b61mack]

Matt, I would like their crumbs, 30-40k, to small to do the paperwork. If you want to send me your crumbs, I could eat very well. My minimum is 0.

 

[eross09]

20% of your customers cause 80% of your problems. There comes a time that the stress isn't worth it. I have been there many times and currently have some customers just like that as most of us do I'm sure. If u want to part ways just explain the situation to your u/w and have them non renew them due to the amt of late payments or cancellation notices. Good Luck!!

 

[b61mack]

Having been a small businessman, I understand what the clients problems maybe? He is chasing his accounts, receivables. Just as others have said, get him financing for the premium. That way you are out of the loop. He is paying,late, but he is paying it!