Submitted by: jimmy
Agency owner looking to hire 1st producer. What % should I pay commissions on new and renewal business? For P & C business as well as life business. thank you.
What % to pay producers?
Previous post: car insurance on teen with license from another state
{ 1 comment… read it below or add one }
I’m not experienced in P&C, but on life, here are some options:
1) 10 and 10 – $10/hour + 10% of the annuallized FYC.
2) 50% of annualized FYC
It depends if the agent is going to be seen as an employee or an independent producer as well. Both of those options would be initial offer only, subject to increase if the agent produces.