When to "Quote 'em High"

[CIServices]

No shoes,
No shirt,
No service

Insurance is legal discrimination.
We call it underwriting.

Well easy to say until you have a lawyer and his client sitting in front of you requesting insurance.

So I'm sitting there - and the lawyer is writing down everything I say...I figured I couldn't turn them away so I just offered HJUP

 

[JohnWalker]

Well easy to say until you have a lawyer and his client sitting in front of you requesting insurance.

So I'm sitting there - and the lawyer is writing down everything I say...I figured I couldn't turn them away so I just offered HJUP

Tweakers don't have lawyers haha...

I'm just curious what law you're afraid of that requires you to sell someone insurance?

As a business owner, you reserve the right to do business with who you choose. If this wasn't the case, there would definitely be multiple class action lawsuits against captive carriers for not writing non-standard clients.

Again, insurance is an acceptable form of discrimination. It's part of the job description.

 

[CIServices]

Tweakers don't have lawyers haha...

I'm just curious what law you're afraid of that requires you to sell someone insurance?

As a business owner, you reserve the right to do business with who you choose. If this wasn't the case, there would definitely be multiple class action lawsuits against captive carriers for not writing non-standard clients.

Again, insurance is an acceptable form of discrimination. It's part of the job description.

Agreed tweakers don't have lawyers. Sorry that was an aside.

Doctors have lawyers, which was my case.

I'm not sure what law I'm afraid of - that is why I posed the question in the first place. Like I said my understanding is that we must offer something - and that something can even be the State Joint Underwriting Plan.

I understand your point on carriers appetites and some risks are "ineligible"

 

[JohnWalker]

Agreed tweakers don't have lawyers. Sorry that was an aside.

Doctors have lawyers, which was my case.

I'm not sure what law I'm afraid of - that is why I posed the question in the first place. Like I said my understanding is that we must offer something - and that something can even be the State Joint Underwriting Plan.

I understand your point on carriers appetites and some risks are "ineligible"

I think what you did is good for business and your reputation. The first people to write negative reviews are "entitled" non-standards who feel like you owe them because they walked into your office with a $500 liability only premium.

 

[CIServices]

I think what you did is good for business and your reputation. The first people to write negative reviews are "entitled" non-standards who feel like you owe them because they walked into your office with a $500 liability only premium.

Yeah and you do them a favor and a week later them turn around and bad mouth you. Happened this last week. Yep

 

[cgreene]

The non standard market is a good market if you are smart about it and place it with the right company. We have a 95 percent retention rate with our non standard all no prior. I think we will write 20k with them this month but normally about 7500. We don't like this to be more than 25 percent of our business.

 

[GXR2]

My question is - What is our obligation to a prospective client. Do we have to offer some sort of quote? Or can we just send them away.

At the agency I work for management is so insecure that if the prospect complains to someone higher up in management they fear they could get fired. So...good agents get trashed in the process. Meaning that If we don't quote everyone and they complain the agent most likely gets into trouble. I always quote them. If I don't want the risk I quote 'em high and watch them leave on their own.

Additionally if they're on drugs or just a plain wacko or both I don't want them cauing a scene or cause future trouble. So for that reason I quote bad risks high, tell them we're just too expensive here, and they never come back. Good.

 

[HCCIA]

Just refer them to your competitors down the street. Haha