The Industry is Changing Quickly

[NSRH]

That's an interesting dilemma that I didn't think about for sure. What about agents trying to get releases from or to IMG?

I've only had 2 release requests to go to an IMG hierarchy this year. Neither one would sign our reciprocal release.

And the numerous releases we've had from IMG hierarchies have all been "open."

What is your definition of a "reciprocal release"?

 

[HoosierLife]

What is your definition of a "reciprocal release"?

Like this

 

[Todd King]

Integrity is one BIG agency. Won't all the agencies they buy up just fall in to their one big contract on each company? I would assume it would. The agency former-owners won't care either way because they are just salaried now right?

Think of it as your own perspective. Let's say that YOU bought 360, Fex, Todd King's agency and EFES. And you paid all of us former owners a salary to keep running the agencies we had. Would you have all of our contracts going in four different directions like they always had been or would you have ALL Oxford production going through your ONE big Oxford contract? ALL the AMAM production going through your one big AMAM contract? And all your Trans production going through your one big Trans contract?

Obviously you would have everything rolled into your one big contract for each carrier.

Not one thing changes with the companies that Integrity is buying. They don't get higher levels or anything like that since the ones they are buying are usually at the top levels anyway.

It's all about sharing the wealth. Oh, Agency ABC doesn't do anything with the senior market? Don't worry, because XYZ does and since they are an affiliate, you have direct access to them and so do your agents.

 

[Newby]

Not one thing changes with the companies that Integrity is buying. They don't get higher levels or anything like that since the ones they are buying are usually at the top levels anyway.

It's all about sharing the wealth. Oh, Agency ABC doesn't do anything with the senior market? Don't worry, because XYZ does and since they are an affiliate, you have direct access to them and so do your agents.

You don't think they move the contracts through the same channel? Like if they owned Premier with the huge TA contract and bought Joe Smith IMO with a level down through somewhere else. you think they would just leave the Joe Smith's TA contact under whoever he had it at rather then put it under their own?

I don't think so.

 

[Todd King]

You don't think they move the contracts through the same channel? Like if they owned Premier with the huge TA contract and bought Joe Smith IMO with a level down through somewhere else. you think they would just leave the Joe Smith's TA contact under whoever he had it at rather then put it under their own?

I don't think so.

No, I don't. For instance, when they bought out Neishloss & Fleming, no contracts were moved at all, nor have they been. Of course, N&F actually had a few contracts under Integrity anyway, but not all of them.

Let me give you another prime example. N&F has an Assurity contract. Not sure if Integrity has one or not, but I can 100% tell you that Integrity doesn't see one direct dime of anything coming through N&F for Assurity, because their contract doesn't run through Integrity.

 

[NSRH]

Like this

Why not just release your agent?

Why tie in the other IMO?

Personally, I would never sign this.

Just release the agent... its between you two.

 

[NSRH]

but I can 100% tell you that Integrity doesn't see one direct dime of anything coming through N&F for Assurity, because their contract doesn't run through Integrity.

Integrity owns N&F... thats not possible.

 

[Todd King]

Integrity owns N&F... thats not possible.

Well sure, I guess they get some of it down the road, but Assurity doesn't send any money to Integrity from production produced through N&F. That's a fact!

 

[HoosierLife]

Why not just release your agent?

Why tie in the other IMO?

Personally, I would never sign this.

Just release the agent... its between you two.

A number of reasons:

1. Sometimes the grass isn't greener. I don't want to release someone if they won't be able to be released back to me.
   
2. Sometimes people will roll their book, at the behest of their uplines. This agreement will help prevent that.
   
3. Also makes future releases from that organization smoother. Once this is signed we have an agreement to release to one another.
4. Helps me know what organizations won't release. The only organizations that won't sign this are organizations that, by and large, won't release under any circumstance.

 

[NSRH]

Well sure, I guess they get some of it down the road, but Assurity doesn't send any money to Integrity from production produced through N&F. That's a fact!

They own N&F. When N&F write a check, it comes from an Integrity Bank Account.