The National Association of Independent Life Brokerage Agencies has updated a manual that can help member life general agencies when they negotiate contracts with insurers.
NAILBA General Counsel Steven John Fellman wrote the 45-page guide, “Contracts for the Independent Life General Agent,” after reviewing dozens of carrier contracts, according to NAILBA, Fairfax, Va.
NAILBA published the first edition of the guide 2 years ago.
Insurers may try to shift responsibility for agent training, suitability review and efforts to stop money laundering onto the shoulders of the general agency without warning the general agent, NAILBA says.
A copy of the guide is on the Web at Document Link