There are many factors that come in to play when putting together a comp package for a producer. There are several questions to consider which arent about the commission split, but can and should effect the commission split: - Who will be servicing the business? Is the producer going to handle the d...

Industry standard is 40% new and 30% renewal. There are many variations of the commission split including bonus commission based on growth, but this is average. Anyone paying producers 50% on renewal will eventually realize they are either losing money or breaking even as a best case scenario if in ...

Not sure there are any books that are going to give you the info you need to make informative decisions on your situation. It's going to come down to business sense. There are many things that need to be considered when entering into an arrangement with a broker for the purpose of writing business &...

You need to get a GL policy for the Building Owner. You should be inquiring with your markets for an "Owners Interest" policy for a building under renovation. You absolutely cannot rely on the GC's insurance and that of the GC's subs. First of all, the GC's policy should be able to add the...

What State?

Wlunday needs to look a bit deeper himself (or herself). My reply to the post was merely stating what I have seen and above all to speak to a tax advisor. No need for you to make snide remarks. I just looked at a few pages from the 2006 "Best Practices Report". I have no idea what size age...

A sole prop has the personal liabilities that a corporation does not. In this business I have always been told it is advisable to be incorporated. Definitely spend the time and money to speak to a good accountant as you should get this right from the beginning. You dont want to have to change your l...

I would be very careful how you structure this arrangement. First, they would need to get their Ins License in order to get paid a commission split from you. Having ownership or a percentage of ownership must be key to you doing the deal. Otherwise you run the risk of writing policies for them in wh...

I would agree with the previous post. On average a producer in an Agency will get between 40% and 50% new and 25%-35% renewal. As mentioned in the prior post it depends on the support, benefits, etc... given to the producer. We also offer a bonus program in addition to commissions, for reaching cert...

I've seen brokers charge individual fees for such things as certificates of insurance; issuing ID cards; claims reporting; endorsements; and more. Often this is disgraceful. We receive a commission to service our clients. I agree that an upfront service fee, at times, is warranted, depending on the ...

Depending on your State laws, charging a fee is acceptable when acting as a broker (not as an agent). In certain states, there must be a written agreement between the broker and the insured outlining the fees being charged. Absent of such signed agreement, there could be an issue with your State Ins...

Where are you located (City, State)

There could possibly be opportunity in a mid to large agency that is looking to organically grow their PL book of business

Amazing how someone asked for advice on joining Nationwide and others have turned this into a forum for and against Farmers.

Only option is the State Fund.

Going in as a Nationwide Associate Agent usually means you will be working as a sub-agent of an existing Nationwide captive agent. Is that the offer you have? Are you going to be the contracted agent for Nationwide or will you be contracted by an existing agent to produce business for him/her. If so...