Who is a noncaptive insurance company that I can sell property and casualty products for?
I recently acquired my P&C license and I want to sell products for a company that in NOT captive. What companies out there will allow me to do this?
- Margarita DLv 68 years agoFavorite Answer
You are going to need to list what state you are in to get a specific list. In general companies that are in almost every state: Hartford Insurance Company, Travelers Insurance, Fireman's Fund Insurance Company, Chubb Insurance Company, Cincinnati Insurance Company, Erie Insurance Company (which is in 10 states plus DC) and I am sure there are many, many others. You might also want to look into small mutual companies that are licensed in your area and or also companies that specialize in specific types of risks.
Good LuckSource(s): Certified Insurance Counselor, Licensed Insurance Agent & Broker in multiple states for over 34 years.
- Tom ZLv 78 years ago
The problem you are likely to encounter is getting an agency appointment. The preferred P & C companies are very particular about who they appoints as agents. For one thing, they do not want every agent in town selling their product. They want to protect the value of their franchise. And they most often have a production commitment that is difficult for a start up agent to meet. If the company doesn't think you can realistically reach the stated production goals they will not appoint you to sell their products.
The exception to this might be Progressive Casualty. I don't ever recall them requiring our agency for a specific production goal.
Better to get a job with an existing agent to "learn the ropes" than to try to start up from scratch.Source(s): ...
- Casey YLv 78 years ago
It is not that simple to break into this industry. First, you need to have E&O coverage in force. Then, you would start working with brokerages to build up a book of business. Once you have adequate volume, you can contact carriers for appointments.
Carriers will have minimum volume requirements; all vary pretty dramatically. You can most likely get Foremost right out of the gate, but that is about it. Other carriers will want to see minimum (from $25K to $1 million) premium volumes in order to maintain any agency contract.
1. Get E&O.
2. Start writing with brokers to build a book of business
3. Once you have enough business, try to get an agency contract.
The other route is to work for an agency and build your own book of business and then try to take those clients when you want to start on your own.