Absolute Recommendations for Agency Contracts

May 1, 2017

Do not ever rely solely on attorneys who advise to sign because if push comes to shove later, they’ll win in court for you. At least get a second opinion.

Have someone who knows the industry and possesses significant practical applications and/or a litigation attorney review the contract. Understand that the most powerful negotiations involve the carrier’s executives/managers. If you only negotiate with carriers’ attorneys you will lose.

If you are conflict adverse or if you work for a decision maker that is truly conflict adverse, or heaven forbid, if you employ an attorney who is conflict adverse (as law is practiced in the U.S., it is designed on purpose to be adversarial so a conflict adverse attorney probably will be dead weight when litigating), hire someone to negotiate for you. If the conflict adverse person attempts the negotiations, they are the wrong person on the wrong bus on the wrong road. The stress will be too high to succeed. Hire out the work.

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Insurance Journal Magazine May 1, 2017
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