Typical GA

[AverageJoe]

I was wondering, could anyone tell me the typical agreement an independent agent has with a general agent?

(P&C only)

whos book of business?
who is agent of record?
commission splits?
renewal splits?
length of term? (whats the average term?)

Things like that, and anything else you would like to add. I think this is a very important thread for the people looking into a general agent to reach those markets that, otherwise, would be unreachable.

 

[AverageJoe]

I was wondering, could anyone tell me the typical agreement an independent agent has with a general agent?

(P&C only)

whos book of business?
who is agent of record?
commission splits?
renewal splits?
length of term? (whats the average term?)

Things like that, and anything else you would like to add. I think this is a very important thread for the people looking into a general agent to reach those markets that, otherwise, would be unreachable.

 

[arnguy]

It depends on the terms of the contract that is negotiated.

 

[AverageJoe]

I understand that is why I am asking typical agreement, not specific.

or for instance, what have you came across in your agreement?

 

[xrac]

I think every GA will have their own deal. Are you looking at creating your own?

 

[AverageJoe]

I think every GA will have their own deal. Are you looking at creating your own?

No, I am looking for a general agent to go through.

I received an agreement yesterday. I kind of like the terms, but that is more because I don't have enough experience to know if I should like the terms or not. I was wondering, generally speaking, what is the average that someone should expect for those questions in the Original post.

Like what is your experience or knowledge or what is the usual agreement. for:

usually.. whos book of business?
usually.. who is agent of record on the policies?
usually.. what are the commission splits on new policy?
usually.. what are the commission splits on renewals?

 

[xrac]

Why the double post?

 

[Guest]

you need to work under another agent for a while to learn all of this crap...you are doing too much at once....

you will fail, as I have stated before, your mommy and daddy cant help you

 

[xrac]

No, I am looking for a general agent to go through.

I received an agreement yesterday. I kind of like the terms, but that is more because I don't have enough experience to know if I should like the terms or not. I was wondering, generally speaking, what is the average that someone should expect for those questions in the Original post.

Like what is your experience or knowledge or what is the usual agreement. for:

usually.. whos book of business?
usually.. who is agent of record on the policies?
usually.. what are the commission splits on new policy?
usually.. what are the commission splits on renewals?

The best thing to do is tell us what the agreement being offered is and we will tell you whether we think it is fair.

 

[CaptiveGuy]

No, I am looking for a general agent to go through.

I received an agreement yesterday. I kind of like the terms, but that is more because I don't have enough experience to know if I should like the terms or not. I was wondering, generally speaking, what is the average that someone should expect for those questions in the Original post.

Like what is your experience or knowledge or what is the usual agreement. for:

usually.. whos book of business?
usually.. who is agent of record on the policies?
usually.. what are the commission splits on new policy?
usually.. what are the commission splits on renewals?

From what I've seen from 3 national online GAs:

The GA owns the business.
The GA is the AOR and their name appears on the policy.
Commission 10-15% on new.
9-10% on renewals

Depending on who you use, you can move your policies to a direct appointment with ease. I think Insurance Noodle has a non-compete or something now though you can't move the policies. I used Superior Access for 3 months and hated them.