Lets keep our collective fingers crossed for this bill. Congrats to the 2 associations for going to battle for agents and brokers in California. I am wondering how the trial attorneys are going to react.
It helps you from being sued by the the Department of Insurance in the future if you are collecting a broker fee and deemed to be an agent due to your binding authority among other factors. Currently, there are lawsuits against a few large retailers for “acting as an agent” AND collecting broker fees and the fines are enormous. You need this to pass to clarify your role
The central problem with this supposedly brilliant solution, is: these terms, particularly – “agent” – have different statutory definitions in regulatory venues of other States. Consequently, more legal confusion and controversy will be fomented.
All this allows is for the tv advertising, car dealer partner bucket shops to continue to charge open ended broker fees and rip off the uneducated consumer. Come on, broker fees on personal lines either need to be capped or we need to get rid of these non-std daytime tv advertising agents through better regulation. They just give us all a bad name…they even charge broker fees to make a policy change.
High? Extremely intelligent reply you bafoon…what does them selling have to do with the fact that they charge open ended broker fees? So 2 off the worst offenders sold to Nationwide..big deal. There are still plenty more that will continue to charge open ended broker fees and fees on policy changes. Just take a look at the folks running the Alliance.
Yes, I have thought about it every time I read JD Powers where the consumer lists insurance agents just below used car salesman…makes it real difficult to fight legislation when we as a group are so down the list in respect by the consumer…the actions of a few have an effect on us all..genius…oh, maybe I also have ethics and can’t see charging a $500 bf on a $500 premium for minimum limits..or maybe It’s just flat out wrong to charge someone $50 to add a car..ever thought about that…you can’t really try and justify that can you?
I really dont care what surveys say because the relationship I have with my customers has provided me with an 86.3 retention ratio and referrals that make it possible that I dont need any lousy fees. While others are griping about a downturn in business, agencies like mine that dont charge fees and have very efficient systems in place are having a field day while the broker fee wh__res are trying to dig a few extra unnecesary bucks out of the consumer. The future is not with broker fees and if an agency cant see that, their lunch will be eaten in short order. Word up
Lets keep our collective fingers crossed for this bill. Congrats to the 2 associations for going to battle for agents and brokers in California. I am wondering how the trial attorneys are going to react.
Just wondering how this bill will help me and my agency. What does it do for me?
It helps you from being sued by the the Department of Insurance in the future if you are collecting a broker fee and deemed to be an agent due to your binding authority among other factors. Currently, there are lawsuits against a few large retailers for “acting as an agent” AND collecting broker fees and the fines are enormous. You need this to pass to clarify your role
The central problem with this supposedly brilliant solution, is: these terms, particularly – “agent” – have different statutory definitions in regulatory venues of other States. Consequently, more legal confusion and controversy will be fomented.
All this allows is for the tv advertising, car dealer partner bucket shops to continue to charge open ended broker fees and rip off the uneducated consumer. Come on, broker fees on personal lines either need to be capped or we need to get rid of these non-std daytime tv advertising agents through better regulation. They just give us all a bad name…they even charge broker fees to make a policy change.
???? They are selling out left and right. What are you high?
High? Extremely intelligent reply you bafoon…what does them selling have to do with the fact that they charge open ended broker fees? So 2 off the worst offenders sold to Nationwide..big deal. There are still plenty more that will continue to charge open ended broker fees and fees on policy changes. Just take a look at the folks running the Alliance.
Hey genius…if you dont charge any fees, they aint a factor….ever thought about that
Yes, I have thought about it every time I read JD Powers where the consumer lists insurance agents just below used car salesman…makes it real difficult to fight legislation when we as a group are so down the list in respect by the consumer…the actions of a few have an effect on us all..genius…oh, maybe I also have ethics and can’t see charging a $500 bf on a $500 premium for minimum limits..or maybe It’s just flat out wrong to charge someone $50 to add a car..ever thought about that…you can’t really try and justify that can you?
I really dont care what surveys say because the relationship I have with my customers has provided me with an 86.3 retention ratio and referrals that make it possible that I dont need any lousy fees. While others are griping about a downturn in business, agencies like mine that dont charge fees and have very efficient systems in place are having a field day while the broker fee wh__res are trying to dig a few extra unnecesary bucks out of the consumer. The future is not with broker fees and if an agency cant see that, their lunch will be eaten in short order. Word up