Non-Resident License Application
New York state has ruled that carriers may not appoint brokers with a "LB" or "BR" license, and therefore, cannot pay commissions.
Certain carriers have begun sending notice that they will cease commissions unless you obtain an LA license or assign commissions to an agency with a LA.
I've had an LB my entire career, many do. This has never been an issue in the past, but it appears carriers are looking for any loophole to stop paying comp.
Between everyone under <200%FPL going to non-commission
Content of insurance-forums.net
New York state has ruled that carriers may not appoint brokers with a "LB" or "BR" license, and therefore, cannot pay commissions.
Certain carriers have begun sending notice that they will cease commissions unless you obtain an LA license or assign commissions to an agency with a LA.
I've had an LB my entire career, many do. This has never been an issue in the past, but it appears carriers are looking for any loophole to stop paying comp.
Between everyone under <200%FPL going to non-commission
Comments
Post a Comment