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Agent Leader Soto Renews Vow to Defend Contingent Pay
National News • April 30, 2007
The leader of the nation's biggest independent insurance agent association has promised agents his group will vigorously defend their incentive pay and contingent commissions that have come in for ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Uninformed comments | The informer | May 1, 2007, 2:07 pm |
| Player | Forum Reader | May 1, 2007, 1:18 pm |
| Re: compensation Disclosure | ML | May 1, 2007, 9:03 am |
| RE: Compensation disclosure | Dale Longfellow | Apr 30, 2007, 4:33 pm |
| RE: Compensation disclosure | The Player | Apr 30, 2007, 4:22 pm |
| Compensation disclosure | FL coastal agent | Apr 30, 2007, 2:19 pm |
| Full Disclosure | Mel Montagne | Apr 30, 2007, 2:08 pm |
| ALEX SOTO | JOHN | Apr 30, 2007, 2:07 pm |
| RE: It's about time | Dirk | Apr 30, 2007, 1:27 pm |
| It's about time | Big Insurance | Apr 30, 2007, 1:17 pm |
| Soto article | Jim | Apr 30, 2007, 12:54 pm |
| Soto hit it right on the money | Dirk | Apr 30, 2007, 12:35 pm |
| Back to article | ||
Subject: Compensation disclosure
I think that compensation disclosure will end up being good for the agent -- at least for the good agent. Clients will better understand what we do and how we get paid. Often, when a client writes me a check, the check amount is all he thinks about. Intellectually most folks understand that I don't keep it all, but it's hard to get by the mindset of "I paid you fifteen grand last year!" No, you didn't; you paid me about a tenth of that. Everything else went upstream to the insurance company.
Some good carriers will remain, and they will find ways to compensate their good agents. There will always be the snakes, too, like Zurich (and Hartford) that look for others to pay for their mistakes, but the good ones will remain, too, and will maintain the kind of relationships that many of the bigs only talk about these days.