Working for two different brokers

[Uncle John]

Greetings,

Currently i am a broker at a top 3 (in size) Commercial brokerage and am a W2 employee in the state of Texas.

I want to also work for a personal lines agency and sell different products and be a 1099 at this company. Can I do this without my Commercial brokerage finding out? Like won't both firms pick up my license? If an E&O claim happened would my commercial firm find out about it and possibly fire me?

 

[fed up]

If they were to check your appointments your affiliation with the other insurer will probably show. You would need to make sure that you did not approach any client of your employer and try to write personal lines business because that will certainly get back to the employer. You might get away with writing health and life as an independent because there would be no overlap.

 

[Uncle John]

If i were to get an llc and get an agency license and use that license for the 1099 job would that be a better option that would better protect me?

 

[fed up]

I worked for a P&C agent and I had an appointment through a broker for Life and Health selling med Supps. the agency owner saw that this was a foot in the door for additional business and it was permitted. My appointments through the broker did not show if anyone looked up my license number. Playing dodgeball between a commercial brokerage and a personal lines agent isn't the same and could land you in jeopardy especially if you piss someone off. I was able to bring some health clients into the P&C agency by asking who did their homes and cars and wouldn't they like just one number to call

 

[Markthebroker]

If i were to get an llc and get an agency license and use that license for the 1099 job would that be a better option that would better protect me?

As far as an LLC protecting you, my understanding is that it's pretty easy to "pierce the veil", but you definitely want to talk to an attorney. Maybe it's different in Texas.

Even if you get an LLC to write insurance, I am pretty sure you will get licensed personally and it will show on your personal license, but feel free to go ahead and double check that.