Unable to Contract with Carriers

[Allen Trent]

FMOs and IMOs hadn't been invented yet.

Thanks again to Al Gore

 

[Newby]

My whole cabinet is going to be recruited from the insurance-forums.

Can I be in charge of the treasury? I count real good. Just like a good politician.
One for you two for me.
Two for you three for me.
Five for you eight for me.
Oh yeah, we're definitely gonna have to raise these taxes!

 

[Allen Trent]

I can remember three small mutual companies that got all strict and everything where they hadn't before. Within a few years all three were out of business. Financial problems.

If I was a betting person, they got strict because of what was being written. Their being out of business was likely more connected to the open door policy from before, not from them building a border wall a little too late

 

[DHK]

Can I be in charge of the treasury? I count real good. Just like a good politician.
One for you two for me.
Two for you three for me.
Five for you eight for me.
Oh yeah, we're definitely gonna have to raise these taxes!

Isn't that how 401(k) and IRA plans work?

 

[Newby]

Isn't that how 401(k) and IRA plans work?

Seems to be.

 

[rousemark]

Sometimes it can be the company.

I was around before background checks and credit scores. Back then you dealt directly with company. FMOs and IMOs hadn't been invented yet.

I can remember three small mutual companies that got all strict and everything where they hadn't before. Within a few years all three were out of business. Financial problems.

Just sayin

Back ibn the day, companies would use Retail Credit (now Equifax) to do background checks on prospective agents.

 

[Allen Trent]

Back ibn the day, companies would use Retail Credit (now Equifax) to do background checks on prospective agents.

I had always heard the background checks for insurance agents back in the day was done by FTG.......Fog The Mirror

 

[rousemark]

I had always heard the background checks for insurance agents back in the day was done by FTG.......Fog The Mirror

Probably for many companies and still is for many. But the larger companies and the captive companies such as the debit companies ran pretty extensive background checks.

 

[rmhaire]

Probably for many companies and still is for many. But the larger companies and the captive companies such as the debit companies ran pretty extensive background checks.

Never did the captive or debit route. Always independent. I forgot about Retail/Equifax. Had plenty of those done though.

Went to church with the local guy that did those. He would call me and ask me Any changes since Last time? I'd say no and he'd send it in.

Probably did a ton back then. But it was pretty much like today. Most companies don't even read them.

 

[Newby]

In my experience if an agent has some bad stuff but discloses it he's worth contracting. If he discloses nothing and stuff turns up, you don't want him. He has not changed. He's just trying to slide past and screw over a new victim.

I'm sure there are exceptions. But that has definitely been my experience.

When an agent tells me about bad background stuff, I tell him to type up an explanation letter and to be sure to explain how you have made changes that this won't happen in the future. Works almost every time.