Posted On: September 7, 2006, 4:58 pm CDT

Posted By: JR

ICAT's minimum monthly compensation will be the greater of 11 percent of the gross written premiums or $100,000. In addition, it will collect a policy fee ($175), inspection fee ($100), claims filing fee ($450) and a producer appointment fee ($125).

AND AGENTS GET 5% TO DO 5 TIMES MORE WORK THAN THEY WOULD WITH ANY OTHER COMPANY AT 15%.

I can just see agents lining up to sell this crap. It is not worth an agents time to pay his employees for the 4 hours it will take, the rent, the overhead, the headaches. Sorry for the big commercial agents that can not charge fees in Florida.
It is time for agents to rise up in protest that our pay should not get screwed with when the ICAT carrier is getting upto $850 + 11%. Real Estate agents are making a killing at 7% of the total sales price, who is going to tell them they are not worth this. why is it that insurance agents can have caps on revenue but no one else does????
Have you bought gas lately??? how much profit are they making. The rent on our office space has gone up 83% in 2 years, property taxes are up 400% and we need more employees just to handle the additional workload the state and companies have put on us just to handle the customers we have before we can worry about new clients. The savings will not go back to the insureds, it will stay in the pockets of the carriers. Through the tea in the harbor.