Agent of Record

Common Reasons for Changing Agents:

• You're unhappy with current agencies service or communication.
• Another agent has more expertise in your industry.
• The current, or incumbent, agent does not have access to a particular market.
• The current agent mishandled a work comp claim.
• Agency failed to prepare and assist with an audit issue.
• Owners were not properly managed for exclusion or inclusion on the policy.
• The current agent is blocking the markets.

Good service can be hard to find these days. Many businesses may need frequent certificates of insurance or they might need a policy change in order to satisfy some specific insurance requirements. We understand that employers need fast, efficient and knowledgeable service from their agent of record.

If you operate in a very specialized industry there may be other agents that have more experience and may offer better advice. Expert advice can help save money or better manage coverage selection. Some insurance agencies specialize in a particular industry or a select few industries. Many agents do not have a broad knowledge on workers comp insurance. Often times, only a select few agencies will have access to specific class codes with the same insurance company because so many agent lacks the underwriting expertise.

Current Agent Doesn't Have Access to the Right Markets

Insurance agents must be appointed with each insurance company they represent. In order to get appointments, agencies must produce a minimum amount of premium each year. Many small agencies simply can't support that many appointments due to production requirements. We write a lot of workers comp across the United States and that makes it easy to keep appointments with more than 40 carriers.

A mismanaged workers' compensation claim can be extremely frustrating to a business owner. Especially when it increases the cost of coverage by adversely affecting an experience modification rating. Sometimes an agent needs to push back on the carrier in order to get claims closed or get the claim reserve amount reduced in order to protect a client EMR Rating.

Your Workers Comp Audit Was Mishandled

Its pretty easy to end up with an inaccurate workers comp audit resulting in more premium being due at the end of a policy term. Sometimes an agent will incorrectly classify employees in the wrong class code. Other times its the auditors fault and the agent must step in and help resolve any issues to correct the audit results. Very few agents or agencies understand and engage in this audit review process.

Often times business owners want to be excluded from work comp coverage under their policy. Many states have specific rules and required forms in order to properly execute the exclusion. Its not uncommon for business owner to wind up with big audit bills because another agent didn't properly advise them on how to exclude owners from the policy.

What Does Blocking The Market Mean?

When an insurance agent blocks the market it means they have sent your workers comp application and loss details to all of their insurance companies in order to prevent another agent from submitting without an AOR letter. The ugly truth is that some agencies do not have your best interest in mind and will not always show you the lowest cost insurance quote at the time of your renewal.

There are a few reasons why an unscrupulous agent might block the markets and then fail to present the cheapest prices or lowest rates on coverage. Different carriers pay different commission percentages on premium, so an agent may be greedy and want the deal that pays the highest commission. An agency may also favor a specific carrier because they are trying to bump up their book of business with a particular insurance company to meet production requirements. You have the right to ask for copies of all your renewal offers to make sure you are being represented ethically.