Yes, renewals too.
As someone else mentioned it is possibly because you are a member of a network and how the MA pays out.
Travelers Renewal Commission - As Earned?
- Thread starter insurance1822
- Start date
Yes, renewals too.
As someone else mentioned it is possibly because you are a member of a network and how the MA pays out.
- Thread starter
- #12
- 1,581
We're part of SIAA but our commissions are paid directly from Travelers & we have a direct appointment. It must be a state to state difference...
- 783
Your not alone, 1822. I get paid as earned for both new and renewal. I have a direct appointment with them, but also part of a group (not SIAA). And with lower comm's on auto, I prefer to write with other companies.
Dave
Dave
- Thread starter
- #14
- 1,581
We get the standard 12/12 on their new auto product but they have a 3% new business override commission which makes it 15/12. We always seem to get large quarterly bonus checks from Travelers anyway (they're big w/ SIAA..) so despite their lower commissions they're still slightly above everybody else w/ the SIAA quarterly overrides.
I wished we wrote more w/ them in the past (because we were watching other agencies get nice bonuses quarterly..) and we never could because they couldn't compete w/ the other carriers we had. Now they are competing & we're placing a fair amount of business w/ them. We'll only sell them if it's a pretty noticeable difference.
I wished we wrote more w/ them in the past (because we were watching other agencies get nice bonuses quarterly..) and we never could because they couldn't compete w/ the other carriers we had. Now they are competing & we're placing a fair amount of business w/ them. We'll only sell them if it's a pretty noticeable difference.
- 274
We get all up front on new but as earned on renewals. I like it that way. Less charge backs for me and my agents. I don't understand the big deal one way or the other. Unless you miss managed your expenses and were falsely counting on full commissions to pay the bills. Make sure when you get appointed you know how you get paid.
- 783
Same here, and 1 point higher on override new business. But that override is not permanent, but 'negotiated' and can go away. It is the renewal I look at, as they are 20% less than most others.
In AZ too, this past year they have been very competitive. Hoping for normal renewal rates.
Dave
In AZ too, this past year they have been very competitive. Hoping for normal renewal rates.
Dave
Similar threads
