Would You Write This Guy? He Will Cancel 2 Months in

[iiinycboi]

So i got a 4MM umbrella case. he needs it for contracts, but tells me he will cancel 2 months in. It can only be agency billed. I will ask for full payment upfront, but would you guys write this?

So much hassle and i dont want to owe back commission lol.

 

[Crabcake Johnny]

Are you really posting this?

 

[Guest]

Dude,

seriously, you get more weird crap in a week, then I get i a year....

Seriously, you need to re-evaulate your marketing

 

[b61mack]

Does NY let you charge a broker fee!. if they do. Then charge them a broker fee. to cover your loss, and a small profit.

 

[iiinycboi]

Dude,

seriously, you get more weird crap in a week, then I get i a year....

Seriously, you need to re-evaulate your marketing

lol, my marketing consist of networking with real estate agents, bankers, cpas, car dealers, and mom and pop grocery shop owners.

plus postcards but this is only for personal lines.

i think im the "go to him for weird insurance stuff" guy
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Does NY let you charge a broker fee!. if they do. Then charge them a broker fee. to cover your loss, and a small profit.

yes i can, i am charging him a small broker fee, but this guy has 4 other commercial policies with me.

so its kinda like if i dont help him he will bring business elsewhere come renewal.
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Are you really posting this?

yes, current client with 4 commercial policies in force. tough choice if i want to write him or not.

 

[Guest]

well, as usual, we need more details........

For instance, is this strictly for a 2 month job requirement or to please his companies requests for certs?

NEED DETAILS MAN, NEED DETAILS..........

If he is doing it JUST to appease a couple of his cert holders, then you need to inform him, that once the umbrella cancels, you have to notify the cert holders that it cancels.....

ALso, I would broker fee him up the ying yang and "tell/inform" that the policy is minimum earned 25%

 

[iiinycboi]

he gets contract jobs for like 5 year terms. but they wont even consider him unless he shows proof of 5MM coverage.

He just wants me to show them he has coverage. Then when he gets awarded. He will cancel it. He doesnt have to list them as additional insured (i asked him if we need to cause they will find out the second he cancels). He just need the COI to be considered for the contract.

The policy doesnt have a minimum earned but its agency billed only so i'll be responsible for the earned premium if he pays in installments. So i asked for all of it upfront and let them short rate him.

Maybe i network with the wrong people lol, but they send me referrals everyday. my job is to go out and have lunch with these guys all day and chit chat. Then they send referrals to my office and i see if i can insure them.

 

[GreenSky]

So why the hell would this question be posted?

It should be "I have a good client who asked me to write a policy as a favor even though it would be cancelled. Should I do it or tell my client to piss off and take the business elsewhere?"

Isn't that pretty much what this thread is about?

 

[iiinycboi]

true, just wanted to see if you guys would not write him knowing he will cancel.

 

[GreenSky]

true, just wanted to see if you guys would not write him knowing he will cancel.

Seriously, this entire thread should be deleted for sheer stupidity.

Rick