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... State], (hereinafter the Agency') and ____ of ___, [State] (hereinafter the Producer') . WHEREAS, the Producer is licensed by the [State] as an insurance broker with authority to sell all lines of insurance, including property, casualty and life insurance, and WHEREAS, the Agency conducts a general insurance agency business duly licensed as such by the [State], and WHEREAS, the Producer desires to be associated with the Agency as a producer of insurance business, and the Agency ... to have the Producer associated with it in such capacity upon the terms and conditions hereinafter set forth; NOW, THEREFORE, in consideration of, and reliance upon, the mutual covenants and agreements herein contained, the parties hereby agree as follows: W I T N E S S E T H : 1. Definitions. For the purposes of this Agreement, unless the context indicates to the contrary, the following words and phrases shall be defined as follows: a. The Agency' shall mean the [Insurance Agency] and ... from time to time by the principal officers and the Board of Directors of the Agency. Except as specifically set forth herein, the Producer acknowledges that he shall have no authority, express or implied, to incur any liability in the name of the Agency or to bind the Agency or its markets on account of any insurance coverages other than as specifically permitted by agency agreements in effect between the Agency and insurance carriers and as specifically authorized by the Agency. 4. Publicity and Receipts. All correspondence and all publicity and advertising shall ...

...all lines of insurance including property, casualty, life and life related lin...ction including, but not limited to, binding resolutions of all of its shareho...

...he front, rear, and sides of the property; if possible, take some inside. Diag...because the agency made a mistake in binding or arranging coverage. The proble...

...ll lines of insurance, including property, casualty and life insurance, and WH... Notwithstanding said provisions for binding arbitration, nothing herein shall...

... pays a portion of his commissions to the production agency in exchange for use of its facilities, and can leave and take his expirations with him. The historical right of an agent to ownership of his expirations gives more economic substance to an independent contractor relationship in the property & casualty insurance field than in others. 2.2.2 Compensation. Producer compensation is to some extent determined by supply & demand. The salary or commission paid by an agency must approach what is paid by the agency down the street, or the best producers will be ... . On the other hand, the total compensation package must be low enough to let the agency generate a profit. Compensating and rewarding top producers adequately without giving away all the agency profits is obviously important in light of slim agency profit margins. Insurance producers are sometimes compensated with a salary, possibly coupled with a production bonus. More frequently, producers are given a percentage of the commissions they produce, possibly with a draw against commissions. The agreement should spell out the commission calculation. Return commissions are normally offset. Normally contingency ... , or among partners and shareholders, may provide for alternate dispute resolution. Mediation and arbitration are the most common types of alternate dispute resolution. They can greatly reduce the cost of resolving disputes. Mediation is non-binding, and it has little downside. Arbitration may be binding to the extent the parties make it so, and it may involve surrendering significant legal rights. Arbitration and mediation are discussed in greater detail in the chapter on litigation, at paragraph 4.5. 2.3 Buy-sell or other agreements to cover if the owner dies prematurely, ...

...s in which to renew all existing property and casualty insurance business for ...for all or substantially all of the property of Maker or the winding-up or liq...

...t contractor relationship in the property & casualty insurance field than in o...resolving disputes. Mediation is non-binding, and it has little downside. Arbitration may be binding to the extent the parties make it...