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re: Do sales producers at independent insurance agencies typically earn residuals of some type
Posted on 1/9/19 at 11:13 am to nugget
Posted on 1/9/19 at 11:13 am to nugget
quote:
Typical for industry in LA is around 50% of new business and 25% renewals. Would be a miserable job if you didn't get renewals. And also make sure you get a portion of your "agency fee". That is where you make your money.
That seems insanely high for a producer.
1
Posted on 1/9/19 at 11:29 am to TDsngumbo
quote:
That seems insanely high for a producer.
That's the % of the commission, not the premium. If you write a $1,000 policy, there is say 15% commission on it. You would get $75 and the agency would get $75 the first year. The second year, you would get $37.50 and the agency would get $112.50.
You get 50% of the 15%.
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