I understand the concept of making more money on profitible business but reducing our commission to 3% on business with losses? 3% ??? Doesn’t a account with losses require a lot more service? Can anybody break even, much less make a profit, at 3%?
And it wasn’t but 5 minutes ago that State Fund was the “insurer of last resort” now they are trying to lure back the profitable business by paying a whopping 8%.
I can see your point on not being able to make a profit on 3% commissions. But if the account has losses, where do you think your commission is going to come from? Of course if the account is profitable, the Fund can pay more commission. Why would the Fund not want profitable business? If you were in their position what would you do?
I understand the concept of making more money on profitible business but reducing our commission to 3% on business with losses? 3% ??? Doesn’t a account with losses require a lot more service? Can anybody break even, much less make a profit, at 3%?
And it wasn’t but 5 minutes ago that State Fund was the “insurer of last resort” now they are trying to lure back the profitable business by paying a whopping 8%.
I can see your point on not being able to make a profit on 3% commissions. But if the account has losses, where do you think your commission is going to come from? Of course if the account is profitable, the Fund can pay more commission. Why would the Fund not want profitable business? If you were in their position what would you do?