Looks like “follow the leader” to me. All we need is a bunch of attorney generals getting involved in our business. Open the door to governments and in they come, always, always!!
If Bill Lockyer and John Garamendi truly wanted to help the people of California they would BOTH resign!! All they are concerned about is their own political careers and think this is the way to further them. They could care less about the consumer or the hard working insurance professionals in this sate!
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
Whistleblower.. who are they kidding. They think they’re the LAW!!! I wonder if Bill & John ever worked as a broker before. We should have them try it for couple of months, then, they’ll realize it’s impossible to survive with only 10 to 15% commission. Beside, we are already providing the most competitive rates to consumers any way compare to what they already have and they are satisfy with that. This whole issue doesn’t make any sense to me.
Geeze, what have all you been smoking? Insurance brokers are all now innocent victims of the DOI? You mean there are absolutely no bad apples in our business? Well, you all haven’t worked for the brokers I have. Had one Sr. Vice Pres of a three letter national broker charge broker fee on top of commission from a contract carrier. His justification, well the company left too much money on the table so he was going to make up for it. Told the client the carrier quoted net to him (in fact it was 15%) and he had to charge for his expertise.
No bad guys in the broker ranks – give me a break.
Looks like “follow the leader” to me. All we need is a bunch of attorney generals getting involved in our business. Open the door to governments and in they come, always, always!!
If Bill Lockyer and John Garamendi truly wanted to help the people of California they would BOTH resign!! All they are concerned about is their own political careers and think this is the way to further them. They could care less about the consumer or the hard working insurance professionals in this sate!
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
I have been in the underwriting end of this business for the past 60 years and
contingent commissions have been a standard
part of the insurance business.If an
underwriter does a better job, its a way of reasonable compensation as a reward.
The question has to be asked: Who does
it hurt? I think this is just another
interference by big goverment with the
private enterprise system.
James W. Cox
Insurance Consultant
Whistleblower.. who are they kidding. They think they’re the LAW!!! I wonder if Bill & John ever worked as a broker before. We should have them try it for couple of months, then, they’ll realize it’s impossible to survive with only 10 to 15% commission. Beside, we are already providing the most competitive rates to consumers any way compare to what they already have and they are satisfy with that. This whole issue doesn’t make any sense to me.
Geeze, what have all you been smoking? Insurance brokers are all now innocent victims of the DOI? You mean there are absolutely no bad apples in our business? Well, you all haven’t worked for the brokers I have. Had one Sr. Vice Pres of a three letter national broker charge broker fee on top of commission from a contract carrier. His justification, well the company left too much money on the table so he was going to make up for it. Told the client the carrier quoted net to him (in fact it was 15%) and he had to charge for his expertise.
No bad guys in the broker ranks – give me a break.
Of course, EVERY single industry have some bad apples and no one is perfect. But, we’re discussing about contingency payment, not broker fee.