What happens to your customers, if you lose an appointment?

[texasnative]

What happens to your customers, if you lose an appointment with a carrier? Say they do not think you are producing enough business, for example, or the rep is a weiner and you two don't get along (I'm just thinking of reasons not related to writing bad policies, haha).

- Are all the clients policies cancelled within say 30 days, if the carrier terminates you within 30 days?
- Do the clients policies get transferred to just "the carrier" for servicing, or to an AOR?
- Or...?
- Are there any E&O issues I need to worry about?

Thanks!

 

[Newby]

Your clients just become house accounts. Your renewals still go to you as long as you were vested.

 

[BADTROUT]

What happens to your customers, if you lose an appointment with a carrier? Say they do not think you are producing enough business, for example, or the rep is a weiner and you two don't get along (I'm just thinking of reasons not related to writing bad policies, haha).

- Are all the clients policies cancelled within say 30 days, if the carrier terminates you within 30 days?
- Do the clients policies get transferred to just "the carrier" for servicing, or to an AOR?
- Or...?
- Are there any E&O issues I need to worry about?

Thanks!

If its a matter of non-production you may be able to roll the business to an agency network with a stronger master code. From the carrier standpoint, they typically will stop your new business, and usually 6-12 months of renewal and endorsement commissions. Literally every company does it different.