Producer Agreement Toolkit protects agencies' value, book of business
IA&B expands member resource
Contact:
Karen Robison
(717) 795-9100 Ext. 606
Nov. 23, 2009 — IA&B recently expanded its Producer Agreement Toolkit to help member agencies better protect their books of business and their books’ value.
“Producer agreements are good business practice,” said Kathleen Glattly, chairwoman of the IA&B Service Group, “but they often fall by the wayside because agency owners don’t understand their rights under common and contract law.”
The Web-based toolkit walks members through establishing trade secrets, restrictive covenants and compensation plans and provides strategies for assessing damages. It explains the pros and cons of the employee and independent contractor classifications and includes a sample agreement for each.
“The Producer Agreement Toolkit explains the provisions all agency owners should have in place and spells out the consequences of improperly drafted contracts,” said Glattly.
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About Insurance Agents & Brokers Service Group
The Insurance Agents & Brokers Service Group oversees the partnership of agents’ associations in Delaware, Maryland and Pennsylvania that work together to deliver pre-eminent programs, products and services for their over 1,500 members. Led by dedicated agent volunteers and staffed by 40 professionals, IA&B is recognized and respected nationally for its industry-leading efforts in agent professional development, advocacy, industry information and knowledge base, communications and more.
IA&B is affiliated with the National Association of Professional Insurance Agents in all three states and with the Independent Insurance Agents & Brokers of America in Delaware and Pennsylvania.
To learn more, visit www.iabgroup.com.
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