No. Agency groups and the services they provide vary widely – that’s why it’s critical to research the group’s scope of services before joining. Many groups are little more than “commission clubs” offering no more than enhanced proﬁt sharing and market access. Some are loose alliances of peers; others provide group management services and operations and technology support.
In addition to understanding the beneﬁts of an agency group, it’s equally important to understand the commitment you are making. Some groups take ownership of a portion of your book of business; others make it nearly impossible to leave the group if things don’t work out. We don’t. You must thoroughly review and understand all the group’s legal documents and contracts before signing. It’s also important to understand how the group vets its members. You should ask about the group’s long-term loss ratio: that will have a signiﬁcant impact on your ultimate ﬁnancial results.