Questions Regarding Agency/Agent Commission Split?

Minnie123

New Member
1
I am in negotiations to start work with an acquaintance who currently has an independent agency but deals only in commercial insurance. They want to "branch out" into personal lines p&c and want me to work the personal lines dept. as I have many years as csr at another agency. We are just starting negotiations on pay. I was just wondering, what is a "typical" commission agreement between agency and agent? I know that it can be different for different areas, etc, but am just looking for a starting point. I will also be making a small salary in addition to any commission agreement. Neither of us are well versed in P&C commissions, as they have never dealt with them, and I was only salary at my previous job.

Any info or ideas would be greatly appreciated.
 
I am in negotiations to start work with an acquaintance who currently has an independent agency but deals only in commercial insurance. They want to "branch out" into personal lines p&c and want me to work the personal lines dept. as I have many years as csr at another agency. We are just starting negotiations on pay. I was just wondering, what is a "typical" commission agreement between agency and agent? I know that it can be different for different areas, etc, but am just looking for a starting point. I will also be making a small salary in addition to any commission agreement. Neither of us are well versed in P&C commissions, as they have never dealt with them, and I was only salary at my previous job. Any info or ideas would be greatly appreciated.

If you are getting a small salary I'd say around a 30/70 split would be fair on new and renewals. You get 30 the house gets 70.
 
How mich assistance will you be getting from the agency and staff on servicing? If you will be serving most of it I would push for a higher percentage. If they are helping I would push for a 3 year agreement of 60/40 if you are doing your own service work 70/40. I personally started with a draw and made 100/40 until we hired another csr and it dropped to 75/40. We did this so I could eat the first few years starting off
 
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