Small Print on Agents Contracting

[djs]

Turns out it doesn't matter if you sign with an arbitor/mediator clause or go to trial. You would travel either way. This clause doesn't really effect that, though I would imagine an arbitor/mediator would be more willing to do things via skype/conference call. Not sure, just assuming on that part.

Dan

 

[Josh]

Turns out it doesn't matter if you sign with an arbitor/mediator clause or go to trial. You would travel either way. This clause doesn't really effect that, though I would imagine an arbitor/mediator would be more willing to do things via skype/conference call. Not sure, just assuming on that part.

I've been through a fairly convoluted arbitration and there are so many steps before it gets to that point it will usually get resolved anyway. Let's not ignore that this would be infinitely more simple of a process for both the agent and the carrier than using the traditional court system.

 

[Mark]

Not saying I agree with this, but you really didn't think they would come to you for the arbitration, did you?

The person/company that makes the contracts, has most of the advantages. If you going to play poker at their house, you have to play by their rules.


But the warning is that most people dont really read every word in a contract, until something goes wrong. Insurance Companies know that they have the advantage and that most people wont read and study the contract.

If all of the insurance companies contract are about the same, they can get away with a lot more.

I think if you owe a debit, they should have to first prove that you owe it with statements. Not just be able to send you one demand letter and then place you on vector or come after you.

 

[Norwayguy]

I don't mind the provision you pointed out Mark...Because its in the contract...What drives me nuts is when a contract has some vague language that you agree to the companies standard procedures.

1. These procedures are not listed in the contract
2. Who is to say that they will not change over time.

 

[xrac]

Other than trying to steer clear of certain companies there is nothing you can do about it if you want to sell a certain companies products anyway is there? You can't change the contract can you? I mean you might get away with something if you are a really big producer but not if you are the average Joe. Now one can use contract language to sift through FMO's.