by steve_3 » Mon Jun 27, 2011 12:29 am
I am an independent agent that acquired my carriers through a managing gen agency. The carrier chose to give me a direct contract without regard for loss ratio or productiuon because I am associated with the MGA and all production is pooled together and we are given profit/loss bonuses based on our total production/losses as a whole. One carrier has spoken with the MGA's corp office and chose to terminate my contract for not having a premium base of $150K and/or L/R. Can they legally do this if it was not part of the org contract?
Posted: Mon Jun 27, 2011 07:44 am Post Subject:
You'll have to speak to your MGA about this. No one here knows what arrangement exists between the MGA and the insurance company.
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