Great Article.
The market will need group like these arrangements more and more as the market hardens and more carrier look to grow outside of the agent channel. The critical point for agents is to look at both the short and long term in the agreements involved and also which type of business and partners your agency wants long term. If you are focused on commercial clients that is an even more critical decision. And finally, read the fine print, some of the contracts have harsh exit terms such as buy back and non compete terms and limited profit sharing conditions.
Great Article.
The market will need group like these arrangements more and more as the market hardens and more carrier look to grow outside of the agent channel. The critical point for agents is to look at both the short and long term in the agreements involved and also which type of business and partners your agency wants long term. If you are focused on commercial clients that is an even more critical decision. And finally, read the fine print, some of the contracts have harsh exit terms such as buy back and non compete terms and limited profit sharing conditions.