8mo
We suspect that hundreds of successful Brightway agents across the country (many who write thousands of policies on an annual basis) would disagree with you. For well over a decade we have worked with over 100 insurance carriers, including top-tier national brands, to provide our agents with the best available options for their particular geography.
To clear up numerous misleading statements in your comments: Brightway adheres to a strict code of ethics and maintains compliance with insurance regulations in all of the states in which we operate. We will only suspend an agency if the agency is in default of contractual obligations (and often after issuing multiple written warnings and attempting to work with agency management to resolve an identified issue). If an agency’s actions were egregious enough to risk damage to Brightway’s reputation, the livelihoods of our broader agency base, or our customers, we would absolutely act within our legal rights to protect our business, agents and customers.
Carrier commissions can vary by state and product line, and may be modified based on the carrier’s overall performance. The majority of Brightway carriers look at the loss ratios of individual Brightway agents to evaluate their appointment as opposed to looking at the entire Brightway network.
Any action taken by a Brightway home office advisor servicing a policy would fall under Brightway’s Home Office E&O policy and have no impact on an individual agent or agency.
If a customer’s policy is canceled or non-renewed, it would likely have been the decision of the insurance company to allow that policy to expire based on the risk presented, or due to the customer’s decision to not pay for the renewal policy. Insurance companies reserve the right to adjust their underwriting guidelines to limit unacceptable risk. When insurance companies provide a customer with a policy non-renewal notice, Brightway’s centralized service team also communicates with the customer to minimize the chance of an unintended coverage lapse.
Lastly, since our founding in 2008, we have assisted many agents in selling their agencies to other Brightway agents or transferring their agencies to an heir or successor. For agents that are unable to find a buyer, Brightway provides a contractually-guaranteed buyout at the end of their contract term.
