Do Imo's Get a List of the Clients You Write Under Them?

[CALTCAgent]

I have always asked who is in the hierarchy. If there is any hesitancy I would not contract. If they are going to not be transparent about that, it won't stop there. IMO.

You do have to be concerned about your client list. I have had a few experiences there, it is almost impossible to prove or do anything about.

 

[Newby]

So i wasn't being paronoid. Several people have said its happened. I can say this. If an imo did that and i found out i'd sue him plus if he's still licensed with the company he can kiss his renewals goodbye as he'd be terminated for cause. Scott as you well know a lot of imo's aren't direct with the company. Many most go under a national or regional fmo.

I don't know of a single IMO who is direct on everything if they have a good mix of companies. That's why it's so important to know EVERYONE you are dealing with.

I'm sure that I'm biased. But our agency is built from an agent's perspective. We are totally transparent. We pick partners we know well and trust.

We are of course the top tier direct with 5-Star, Settlers, Oxford, Lafayette, Security National, and Trinity.

We hand picked Equita to partner with on RNA, Americo, and Am Con. Because of long standing tight relationships plus they have the largest contract in the country with these companies.

We hand picked Tim Winders for TransAmerica and MOO for the same reason.

Gerber and Standard Life and Casuality are both through their national distributors. Gerbers is Amerilife (ugh.) but that is just the best solution for your worst business.

I would bet 99% of the independent agents have no real clue of who is in their up line or any way to check them out. Most agents just don't give any detailed thought to such things.

 

[WinoBlues]

I wish I could remember the name. They are larger. I seem to remember it was an old block of OldLine Life business, I think. Not many were contacted be for I found out. I had a several clients go ahead and get issued be fore we free looked them and replaced them. Had a couple send letters to the DOI. I got a couple nasty calls from agents and a call from some agency puke. I made much much more than I lost.

 

[PaperHanger]

Assuming you put them with a competitive carrier, it should be hard to replace. ..otherwise, it makes a good excuse to flip your book to your new lower priced carriers...Also it's may even be in their contracts as well that replacing policies is subject to termination of their contract and future commissions, just as it is for the agents. .