NLIC.org

Ruby Said:

I am starting with an independent insurance firm as a producer and have a question about the commission split?

We Answered:

It is like everything else in business: it is negotiable. The split you receive can often depend on who is responsible for paying other expenses such as telephone, advertising, rent, office supplies and salaries for administrative personnel. In the past, I have negotiated agreements where I would receive up to 80%, but I was an "independent contractor" and was responsible for all of my own expenses (except errors and omissions insurance). The lowest split I have received was a 50/50 split with the contracting producer receiving any broker fees.

My opinion would be that the initial split sounds fair if they are paying the overhead expenses, but the renewal split seems a bit unfair to me.

Good luck in your career!

Wesley Said:

Where would I look to find Independent Insurance Agencies for sale in Oregon?

We Answered:

I would contact the:

Independent Insurance Agents and Brokers of Oregon
5550 SW Macadam Avenue, Suite 305
Portland Oregon 97239
Phone: 503 274-4000 or 1-866-77-IIABO Fax: 503 274-0062