Posted: Sun Jan 25, 2004 6:00 pm
I'm in California and I plan on focusing on Commercial/Contractors insurance. I'm not familiar with how agents or brokers work with insurance companies.
My concern was that others would already have an advantage on price over anything I would give. Also is "an appointment" by an insurer similar to giving an agent distribution rights for their products? Would it be pointless for me to enter the field if other agents/brokers have exclusive rights to certain areas etc...
As an example, I know of a broker that works with Lincoln, LLoyds and CBI. Does this mean if I go into business against them in the same area (location and product lines) their insuring companies will not work with me?
I appreciate any help on this..
My concern was that others would already have an advantage on price over anything I would give. Also is "an appointment" by an insurer similar to giving an agent distribution rights for their products? Would it be pointless for me to enter the field if other agents/brokers have exclusive rights to certain areas etc...
As an example, I know of a broker that works with Lincoln, LLoyds and CBI. Does this mean if I go into business against them in the same area (location and product lines) their insuring companies will not work with me?
I appreciate any help on this..