The SIAA Contract specifically states basically we can not give out info like that. Whatever master agency your talking to will let you talk and look with them if they are good and want to grow.I'm surprised no IAs on here can seem to answer what their typical loss ratios are and answer the question...or maybe im nkt making sense? If you don't know the "median" loss ratio (the number you hit most frequently, and not significantly influenced by outliers...ie real bad loss yrs), what is your "average" annual loss ratios? What do the carriers usually require for you to get profitability bonus? Since I'm moving to IA, I'd like to try and project how likely getting bonus is, or isn't. Seems like a reasonable question to me![]()
I'll just say this. 8 years as a captive 3000 policies 2 bonus years because of the hit this to get that and maybe you get a bonus. I was highly profitable 7 of those years in a hail state.
2 years as an IA and boom 2 years I have been receiving bonuses quarterly and annually.
The master agency is the key, mine never bothers or talks to me unless I ask them, then they are there and have never once said pick up production.
Best decision I ever made in the last 10 years was going IA