Which Captive Agent Can Share the Commission?

[redsquash]

Which captive agent is allowed to share the commission with independent agents? I can refer the business to him. I know, I will not be getting commission directly from the carrier, but the captive agent can write me check, and at the year end give me 1099.

I know State Farm doesn't allow that? What about AllState or Nationwide?

 

[infoe]

if you're question is only regarding the carrier then I'm not sure which one will allow it. You are correct, there somewhere in State Farm's language Im sure they don't want you sharing commissions and you can contractually be obliged to do just about anything these days.

Legally you can share your commissions with anyone who appropriately licensed (not sure if it's every state or state law specific.)

What type of business is it that you are wanting to send over to a captive agent? must be high tiered personal business that qualifies for the best rate with some of the companies? I still have to assume if you had the right markets you would almost never need to refer them stuff just usually receive referrals from them?

 

[redsquash]

I do only Life and Health, although I also hold P&C license.

Some of my life clients have asked me about doing P&C insurance for them. So far, I have been just asking them to go to State Farm and thereby missing a few bucks.

Now, I'm looking to send them to someone who would share the commission with me. Its not a one time deal, but will happen on regular basis.

I looked into Insurance Noodle to do it by myself - but personal lines without binding authorty is not just the way to do it.

 

[Sales71]

I am thinking you are a life and health agent. But its up to the agent at Allstate to pay you or share the commission with you. Most will send a gift card..or a gift basket or other arrangemet will be up the two parties to decide on.

 

[Guest]

crap, Send them to me, if your licensed, then your good to go. I would give you a 40/60 split....

 

[Sales71]

crap, Send them to me, if your licensed, then your good to go. I would give you a 40/60 split....

Wow Red Blooded American you are so generous you will
give him %60 and you keep %40..I like that I will just send you my new business..I like it i will make more money and less work...My new goal in life less work and more money..

 

[redsquash]

Are you licensed in NC?

From your posts I understand you're with SIAA, and hence have the binding authority.

crap, Send them to me, if your licensed, then your good to go. I would give you a 40/60 split....

 

[Guest]

no, AZ only..........