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Rule #5
Measure the value of your agent or broker

Do you know how much your current agent or broker is being paid for writing your business? The vast majority of business owners don’t. If your agent or broker is unwilling to disclose this information or appears uncomfortable with the discussion, this should warrant more careful scrutiny. While this is a sensitive issue, it is incumbent upon a business owner to be informed. This should involve a candid conversation on any other forms of compensation the broker may be receiving related to your account, which could include placement services agreements, premium financing fees, profit sharing arrangements, or any other form of contingency fees.

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