Commissions have been cut so much over the years. There used to be a time where you could make a profitable living being an agent. How much more$$$
P
Patricia Cummings
9 years ago
Do not reduce our commission--these policies take a lot of time to underwrite for both the WYO companies and insurance agents.
K
Kim Godwin
9 years ago
Featured
WHY is it always the insurance agent that has to take the cut. we've had nothing but CUTS to our commission for the last 10 years. Our agency relies a lot on our flood commission to help pay our employees. Cutting our commissions could mean having to cut employees.
R
Robert Filichia
9 years ago
Florida pays the Highest Rates with the fewest claims annually.
E
Edward Wilson
9 years ago
Would like to stay in business a few more years!
R
richard greene
9 years ago
Featured
insurance agents should not be expected to work for nothing. experience, professionalism, time, overhead, all are real costs. please work to maintain a realistic compensation. at least for individual residences and condo units. perhaps larger buildings could have a maximum commission, but the little risks won't be written if there is no money to be made working them.
J
Jamie Skofstad
9 years ago
As a small agency located right on the coast of Florida, flood commissions are vital to our business. If commissions are cut, it will be the agencies like ours, the ones who have aided in community flood risk education and have weathered storms along with our customers that will suffer. Agencies that specialize in high risk insurance and help reduce the strain on State and Federal Insurance programs by continually and actively seeking out alternate carriers that could potentially be forced out of business completely. With the rising cost of flood insurance for SFHA's we are already feeling the financial impact as some homeowners are dropping their policies all together, or as we are moving them to private market companies with a lower commission rate. Thankfully, it is a gradual process, giving us time to recoup some of the loss through new business. If our WYO carries were to all reduce their commission rates at the same time though... it would be catastrophic.
M
Mike Ryba
9 years ago
The level of Flood Underwriting Scrutiny is UNBEARABLE even at the current commission level. If the NFIP needs FRONTLINE UNDERWRITERS (aka AGENTS) to make it NICE AND EASY for the NIFP Underwriters... and provide ALL of the MYRIAD of current and correct Flood Underwriting Info, including... PICTURES of the FORNT/BACK/OPPOISING ANGLES, and BEHIND THE HEDGES showing THE FOUNDATION (unfettered)... Elevation with PIX of the FLOOD VENTS and CONVERT to SQ INCHES in relation to SQ FEET, Confirm the HOT WATER HEATER is AT FIRST FLOOR LEVEL rather than BELOW the BFE, Obtain "Water Proofing" Docs/Pics (if there really IS such a thing as "Water Proofing"???, etc, etc, etc... Then the current commission level is as low as it can go... OTHERWISE, let the NFIP/TORRENT UNDERWRITERS send out INSPECTORS or Directly Paid Underwriters to obtain ALL underwriting info! For 10% us agents will merely PAY RENT/OWN a Local Insurance OFFICE to allow the consumer to SIGN and Remit Premium to the NFIP... If you need AGNETS to help in the underwriting LABORIOUS CHORE and collect ALL NECESSARY underwriting info... DO NOT reduce commission, it is too much of a frustration AND E&O Exposure already... However, if the NFIP were a RUBBER STAMP Issue and Pay process for the Agents then 10% is fine to at least defer the cost of our EXHORBITENT RENT/MORTGAGE on our LOCAL INSURANCE OFFICES... The FLOOD UNDERWRITING challenges are really TOO COSTLY to agents right now at 18 or even 20%. That's just my "Two Cents"
T
Tim Ludden
9 years ago
Please don't consider this bill, we need competitive WYO programs !
J
Joey Kirkland
9 years ago
Save our commissions
P
Paul Morgan
9 years ago
Featured
I'm a FL agent where 40% of the NFIP book of business is, and has run at a profit since 1975. If you reduce commissions agencies will no longer write flood insurance (lower commissions won't cover cost of servicing or the E & O exposure). That will result in less insured losses and more direct subsidies to victims by FEMA. You think you have money problems now, those problems would be much worse if you increase the number of uninsured losses.
A
Alesia C Gutierrez
9 years ago
Rather than attacking agents who fight hard as an advocate for the consumer, program the administrators and the policyholders.
R
Rebecca Korach
9 years ago
This is a valuable program which actually requires a fair amount of servicing.
C
Chris Galbreath
9 years ago
We, the agents deserve better from our representatives. We are main street agents, don't hurt us!
J
Joseph Kerstein
9 years ago
We, the agents deserve better from our representatives. We are main street agents, don't hurt us!
Commissions have been cut so much over the years. There used to be a time where you could make a profitable living being an agent. How much more$$$
Do not reduce our commission--these policies take a lot of time to underwrite for both the WYO companies and insurance agents.
WHY is it always the insurance agent that has to take the cut. we've had nothing but CUTS to our commission for the last 10 years. Our agency relies a lot on our flood commission to help pay our employees. Cutting our commissions could mean having to cut employees.
Florida pays the Highest Rates with the fewest claims annually.
Would like to stay in business a few more years!
insurance agents should not be expected to work for nothing. experience, professionalism, time, overhead, all are real costs. please work to maintain a realistic compensation. at least for individual residences and condo units. perhaps larger buildings could have a maximum commission, but the little risks won't be written if there is no money to be made working them.
As a small agency located right on the coast of Florida, flood commissions are vital to our business. If commissions are cut, it will be the agencies like ours, the ones who have aided in community flood risk education and have weathered storms along with our customers that will suffer. Agencies that specialize in high risk insurance and help reduce the strain on State and Federal Insurance programs by continually and actively seeking out alternate carriers that could potentially be forced out of business completely. With the rising cost of flood insurance for SFHA's we are already feeling the financial impact as some homeowners are dropping their policies all together, or as we are moving them to private market companies with a lower commission rate. Thankfully, it is a gradual process, giving us time to recoup some of the loss through new business. If our WYO carries were to all reduce their commission rates at the same time though... it would be catastrophic.
The level of Flood Underwriting Scrutiny is UNBEARABLE even at the current commission level. If the NFIP needs FRONTLINE UNDERWRITERS (aka AGENTS) to make it NICE AND EASY for the NIFP Underwriters... and provide ALL of the MYRIAD of current and correct Flood Underwriting Info, including... PICTURES of the FORNT/BACK/OPPOISING ANGLES, and BEHIND THE HEDGES showing THE FOUNDATION (unfettered)... Elevation with PIX of the FLOOD VENTS and CONVERT to SQ INCHES in relation to SQ FEET, Confirm the HOT WATER HEATER is AT FIRST FLOOR LEVEL rather than BELOW the BFE, Obtain "Water Proofing" Docs/Pics (if there really IS such a thing as "Water Proofing"???, etc, etc, etc... Then the current commission level is as low as it can go... OTHERWISE, let the NFIP/TORRENT UNDERWRITERS send out INSPECTORS or Directly Paid Underwriters to obtain ALL underwriting info! For 10% us agents will merely PAY RENT/OWN a Local Insurance OFFICE to allow the consumer to SIGN and Remit Premium to the NFIP... If you need AGNETS to help in the underwriting LABORIOUS CHORE and collect ALL NECESSARY underwriting info... DO NOT reduce commission, it is too much of a frustration AND E&O Exposure already... However, if the NFIP were a RUBBER STAMP Issue and Pay process for the Agents then 10% is fine to at least defer the cost of our EXHORBITENT RENT/MORTGAGE on our LOCAL INSURANCE OFFICES... The FLOOD UNDERWRITING challenges are really TOO COSTLY to agents right now at 18 or even 20%. That's just my "Two Cents"
Please don't consider this bill, we need competitive WYO programs !
Save our commissions
I'm a FL agent where 40% of the NFIP book of business is, and has run at a profit since 1975. If you reduce commissions agencies will no longer write flood insurance (lower commissions won't cover cost of servicing or the E & O exposure). That will result in less insured losses and more direct subsidies to victims by FEMA. You think you have money problems now, those problems would be much worse if you increase the number of uninsured losses.
Rather than attacking agents who fight hard as an advocate for the consumer, program the administrators and the policyholders.
This is a valuable program which actually requires a fair amount of servicing.
We, the agents deserve better from our representatives. We are main street agents, don't hurt us!
We, the agents deserve better from our representatives. We are main street agents, don't hurt us!