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Both of them?
You write twice as much as Rick! You da man.
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Both of them?
I see your point. In this case though when Puritan buys a company with an active client base isn't that part of the benefit for them to buy the company? Shouldn't you be more upset with the company that sold the business?There is a difference in "competing" in the open market and working an agent's client list.. For example.. You sign a contract to sell business through my agency and you are vested in that business. It would be one thing if I sold one of your clients that I developed through some outside source. But to take your list of clients (which I have only because you placed the business through me) and to systematically replace that business so that I now get the full commission and you lose your vested renewals is totally unethical.
I guess the best defense to this is making it difficult for your client base to be raided. Servicing clients and offering the best products would be the best way to do this.
It does seem shady. I remember when National States went through bankruptcy and was sold. I think most of my clients there are still on the books. So I'm glad they didn't do this kind of thing.
I kind of thought that Puritan was doing what you had mentioned in your response. They were basically calling the clients to offer additional products. I could see how an agent would get ticked off if they were targeting their policies for replacement. Right or wrong, I guess it can be the nature of the business.
Like I mentioned previously, after seeing the Agent Contract I plan on staying away from them. Also, what's the point of selling for a company if they are just going to replace everything you write if you ever leave?
The Evansville office.
I just lost another today. Damnit.
Indiana Agent-why would an insurance company (Puritan) have a brokerage move client to another company they DO NOT OWN? Makes no sense, crooked.
AIMC and Puritan are in a legal battle right now over this. I was just updated on Friday, go to the court very soon.