[quote]Brother Chris wrote:
[quote]Hallowed wrote:
[quote]Brother Chris wrote:
[quote]Hallowed wrote:
[quote]Brother Chris wrote:
hallowed what kind of work do you do again?[/quote]
Commercial Insurance Broker… I work on behalf of my clients obtaining commercial property and casualty insurance so work comp, fleet auto, large commercial property accounts, general liability specializing in contractors. I do “middle market” so that’s 100k to about 1M in premium per year though my two largest accounts pay $1.5 and$ 2M each per year for their insurance. Its ALOT of people handling and alot of mundane risk management details, don’t worry its not as boring as it sounds… and it keeps me in whey protein.[/quote]
No, not boring…just looking to go into something similar when I graduate next year.[/quote]
Be smart, competitive… and have a high tolerance for bullsnit and a great memory (got to remember what you told to who) I’m sure you possess these traits. Be prepared to become an expert on a topic that you will not be able to discuss with most of the people in your life for fear of boring them to death. Its more fun to do than to talk about. The beautiful thing about insurance… recession proof. As long as there are attorneys… we shall prosper. And do not go company (carrier) side only go broker (retail or wholesale).
[/quote]
<— loves insurance like most menstruating women love chocolate.
What is the difference between carrier and retail/wholesale?[/quote]
Carrier side is working for one of the insurance carriers (state farm, fireman’s fund, golden eagle, etc.) Retail brokers between the carriers and the insureds. That’s what I do. I work on BEHALF of my client protectecting their interests, making sure they are adequately protected and keeping an eye on the sneaky carriers. Insurance is simplified law. Policies are legally binding documents adjucated through the courts. Wholesale brokers between surplus lines (non admitted carriers) which can only be sold by licensed surplus lines brokers to retail.
So if I have a client who has to have a surplus lines policy due to risk (motorcycle parts for example, or apartment buildings on Galveston island) or simply due to size (anything over half a billion in property values has to be surplus lines its too much coverage for standard markets) so surplus lines brokers go between surplus lines carriers and retail brokers. So that structure would be the insured deals with me I deal with surplus lines broker surplus lines broker deals with surplus lines carrier (like lloyds/Lexington)
That paragraph got away from me I’m on my phone not ideal for bulk communicating hope that made some sort of sense.
