Relinquishing Your License

[AskEbby]

Hello everyone!


I am currently hold my P&C license in GA, DC, WV, MD, MY, NC. I'm relocating from GA to MD and open to new career opportunities. I was recently contacted about an opportunity as an adjuster with an insurance company. I was told that I would need to relinquish my license as a part of the company's requirement for working as an adjuster. Is this a normal practice with companies? I'm still fairly new to the insurance world and looking for some insight.

Thanks!

 

[adjusterjack]

Is this a normal practice with companies?

No. But it's obviously THAT company's practice.

When I went to work as a company adjuster I kept my LH and PC licenses that I'd had for 20 years by then. There would have been no way that I would have taken the job if giving them up was a condition of employment.

I'm still fairly new to the insurance world and looking for some insight.

Then I hope you learn quick not to trust ANY prospective employer that tells you to give up something to get the job.

Remember "employment at will" means you can be fired for any reason or no reason. If the job doesn't work out you might have a hell of a time getting those licenses back.

By the way, I'm 70, retired 11 years, but still have my LH, PC, and Adj licenses. Costs me $120 every 4 years. Small price to pay for knowing that I can work if I want to or need to.

 

[BADTROUT]

I dont believe I would be able to relinquish the actual license... seems odd. I understand them asking you to refrain from any sales or consult. Have to be a heck of an offer, or I would keep shopping for opportunities.

 

[AskEbby]

Thank you for the feedback. I could understand signing an agreement not to sell during my duration of employment with the company. But you're right. The company could release me within 3 months and I'd be at square one.

No. But it's obviously THAT company's practice.

When I went to work as a company adjuster I kept my LH and PC licenses that I'd had for 20 years by then. There would have been no way that I would have taken the job if giving them up was a condition of employment.



Then I hope you learn quick not to trust ANY prospective employer that tells you to give up something to get the job.

Remember "employment at will" means you can be fired for any reason or no reason. If the job doesn't work out you might have a hell of a time getting those licenses back.

By the way, I'm 70, retired 11 years, but still have my LH, PC, and Adj licenses. Costs me $120 every 4 years. Small price to pay for knowing that I can work if I want to or need to.