I think Rims profiteering from this convention is considerably worse than any contingent commission. If you disagree with RIMS position, hit them where it hurts. Boycott their over priced convention.
All this talk about doing away with incentives for providing an above average service is BS. The big brokerages got caught with their hands in the cookie jar for bid rigging, demanding up front contingencies for placement of business etc.
The vast majority of insurance agents do not work for Brokers. They represent solid companies, provide a professional service and do not engage in the type of antics that precipitated this mess in the first place. They are honest, hard working agents. One would think that there is enough collective intelligence to seperate the brokers from agents but I guess that might be asking too much. Maybe if there was no commission and no remuneration paid for the agents service, the brain trusts would think that the conflict still exists.
I wonder just how many risk managers had their pockets padded from preferred placement with their brokers?????
Why don\’t the risk managers start by cleaning up their own large publically traded companies. When they get Executive Pay and back dating stock options taken care of and start returning more money to the stockholders rather than putting insurance contingency savings in their own over paid pockets, then we can look at our industry which for the most part is the backbone of support for this country.
Or would they rather we contribute to putting more people on the street so that we can pay even more welfare?
There are more important issues that need attention then breaking a small agent\’s back.
Why don\’t the risk managers start by cleaning up their own large publically traded companies. When they get Executive Pay and back dating stock options taken care of and start returning more money to the stockholders rather than putting insurance contingency savings in their own over paid pockets, then we can look at our industry which for the most part is the backbone of support for this country.
Or would they rather we contribute to putting more people on the street so that we can pay even more welfare?
There are more important issues that need attention then breaking a small agent\’s back.
Further questions? What does Debbie, Debra, Deborah have in common with Wayne Gretzky, American River College Foundation, Award Service Inc., PH:, BIC Ins., Foundation Ins. Occidental College, Yarra Park, Melbourne, 1956 Summer Olympics, Bob Gutowski?
1. Daniel G. Herns, ESQ.
2. Other versions by above Author\’s of Workers Compensation Insurance, Bailey\’s Industrial Oil and Fat Wallets, Oyster Point, IMC.
3. Pacific Northwest Foundation, Health Group of PIGS.
\”Vince\” – your command of economics and finance is almost as impressive as \”Risk Adverse\”\’s command of the English language. Perhaps you don\’t realize that you (or any broker) doesn\’t work for free – ever. The commissions insurers pay you – i.e. your revenue – presumably compensates you fully. Higly unlikely that you\’re worth $1000/hr (especially given your understanding of economics). Your (our) commission revenues are \”inflated\” to reflect the fact that you (we) only close X% of the deals you work on. It would be perfectly reasonable to charge insurance buyers a reasonable hourly rate in lieu of accepting payment from insurers. That wouldalign everyone\’s interests properly. Then, insurance brokers could start to make an argument as to why they should be considered \”professionals\”. Of course, it might help that argument if some of us had an actual higher education.
WHO CARES, as long as the compensation is disclosed and is for past performance. Today, motivation is built around incentives. Don\’t you have incentives for employees to reduce Lost Time Claims? Do you get bonuses for a clean risk operation? It is just the way it is. It seems to me that RMs are just mad, because someone else gets a bonus for their efforts. If you don\’t like that, then here is your choice:
1. Become a broker or agent (I was one and it isn\’t easy) OR
2. Let your operation go to hell so that they don\’t get their bonus.
Concentrate on your responsibilities. Stop wasting time and emotion on something you don\’t have control over.
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I think Rims profiteering from this convention is considerably worse than any contingent commission. If you disagree with RIMS position, hit them where it hurts. Boycott their over priced convention.
All this talk about doing away with incentives for providing an above average service is BS. The big brokerages got caught with their hands in the cookie jar for bid rigging, demanding up front contingencies for placement of business etc.
The vast majority of insurance agents do not work for Brokers. They represent solid companies, provide a professional service and do not engage in the type of antics that precipitated this mess in the first place. They are honest, hard working agents. One would think that there is enough collective intelligence to seperate the brokers from agents but I guess that might be asking too much. Maybe if there was no commission and no remuneration paid for the agents service, the brain trusts would think that the conflict still exists.
I wonder just how many risk managers had their pockets padded from preferred placement with their brokers?????
Why don\’t the risk managers start by cleaning up their own large publically traded companies. When they get Executive Pay and back dating stock options taken care of and start returning more money to the stockholders rather than putting insurance contingency savings in their own over paid pockets, then we can look at our industry which for the most part is the backbone of support for this country.
Or would they rather we contribute to putting more people on the street so that we can pay even more welfare?
There are more important issues that need attention then breaking a small agent\’s back.
Why don\’t the risk managers start by cleaning up their own large publically traded companies. When they get Executive Pay and back dating stock options taken care of and start returning more money to the stockholders rather than putting insurance contingency savings in their own over paid pockets, then we can look at our industry which for the most part is the backbone of support for this country.
Or would they rather we contribute to putting more people on the street so that we can pay even more welfare?
There are more important issues that need attention then breaking a small agent\’s back.
Further questions? What does Debbie, Debra, Deborah have in common with Wayne Gretzky, American River College Foundation, Award Service Inc., PH:, BIC Ins., Foundation Ins. Occidental College, Yarra Park, Melbourne, 1956 Summer Olympics, Bob Gutowski?
1. Daniel G. Herns, ESQ.
2. Other versions by above Author\’s of Workers Compensation Insurance, Bailey\’s Industrial Oil and Fat Wallets, Oyster Point, IMC.
3. Pacific Northwest Foundation, Health Group of PIGS.
Smile Jay Gellert, and please don\’t take this too personal.
9S4 MINERAL COUNTY (AIRPORT) PUBLIC
and Bay Area Credit Services, Airport BLVD. San Jose.
Fine Job your doing County of Santa Clara. Department of Revenue, Public welfare working.
\”Vince\” – your command of economics and finance is almost as impressive as \”Risk Adverse\”\’s command of the English language. Perhaps you don\’t realize that you (or any broker) doesn\’t work for free – ever. The commissions insurers pay you – i.e. your revenue – presumably compensates you fully. Higly unlikely that you\’re worth $1000/hr (especially given your understanding of economics). Your (our) commission revenues are \”inflated\” to reflect the fact that you (we) only close X% of the deals you work on. It would be perfectly reasonable to charge insurance buyers a reasonable hourly rate in lieu of accepting payment from insurers. That wouldalign everyone\’s interests properly. Then, insurance brokers could start to make an argument as to why they should be considered \”professionals\”. Of course, it might help that argument if some of us had an actual higher education.
WHO CARES, as long as the compensation is disclosed and is for past performance. Today, motivation is built around incentives. Don\’t you have incentives for employees to reduce Lost Time Claims? Do you get bonuses for a clean risk operation? It is just the way it is. It seems to me that RMs are just mad, because someone else gets a bonus for their efforts. If you don\’t like that, then here is your choice:
1. Become a broker or agent (I was one and it isn\’t easy) OR
2. Let your operation go to hell so that they don\’t get their bonus.
Concentrate on your responsibilities. Stop wasting time and emotion on something you don\’t have control over.
would these same S.B. rim like to loss all
bonus they have with their venders and supply co.