Delawaredave5
Full time employment: Posting here.
- Joined
- Dec 22, 2004
- Messages
- 699
Friend of my was with a major insurance company for 15+ years - rate increases were close to inflation.
His agent retired and someone bought that business. Friends policy gets transferred to new agent. For the last 3 years, rates on all have been going up 10+%.
Agent says the insurance company sets the rates and agent has nothing to do with it.
Is that true ? I doubt it. I'll bet the agent has some discretion and incentive on a price increase range to pass through to the customer. If the agent gets a higher increase accepted - I'll bet he gets to keep more commission.
If you have any experience here - would be interested.
His agent retired and someone bought that business. Friends policy gets transferred to new agent. For the last 3 years, rates on all have been going up 10+%.
Agent says the insurance company sets the rates and agent has nothing to do with it.
Is that true ? I doubt it. I'll bet the agent has some discretion and incentive on a price increase range to pass through to the customer. If the agent gets a higher increase accepted - I'll bet he gets to keep more commission.
If you have any experience here - would be interested.