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In Reply to: Re: how to receive an appointment as p&c independent agent posted by A FRIEND OF KEN YOUNG on July 27, 2003 at 21:33:11:
: : I am a newly licensed p&c independent agent in southern california. My office is located in a 80 thousand sq ft auto center. The potential for writting policies at my location is tremendous but I need help placing this business, any sugestions?
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: Rod, you may want to first consider going to work for one of the GA's for a major P&C insurer in your area.
: Most major insurers have expansion programs and once an agent has proven himself to be reliable and knowledgable they set him up in his own GA Office for the company.
: A second avenue you may want to consider is obtaining an appointment with one of the LLoyds writers in your area.
: I know of one LLoyd's GA who was a life agent only, obtained their P&C license and opened up their door through Lloyds.
: The agent now has five full time CSRs and three part-time file clerks. After only five years as a P&C GA, the office is doing $6.5 million in premium per year now and still growing averaging 35 new sales per week so far this year. At a 15% commission, that's not bad even after expenses you know.
: The only problem with that type of agency that I see is, the Lloyds companies will usually require an annual payment with the binder be sent in to the company. If the policy is a home owners, then the agent has to wait until the funds are dispursed at closing to get the money that the GA advanced with the application back.
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