A carrier terminated your agency's contract: what to do in the first 48 hours

It happens more than people think, and the thread about it on the other boards is always a hundred posts of speculation. Here's the practical version for an agent under an agency that just lost a carrier.

Hour one: find out what actually happened. Was your agency's contract terminated, or your upline's, or the whole hierarchy's? Is it for cause? Ask your upline in writing and ask the carrier's agent services line directly. You're allowed to.

Your pending business. Applications in underwriting usually still issue. Ask the carrier whether pending cases will be processed and paid. Get the answer in writing.

Your in-force book. Renewals and service on issued policies depend on your contract's vesting language and the reason for termination. Read the vesting clause; the contracting room has a thread on it.

Your own appointment. If you were appointed through the agency, the appointment usually ends with the agency's contract. Ask the carrier whether you can be re-appointed through a different upline and how long the wait is.

Your clients. Don't move anyone until you know what you're moving them to. A replacement done in a panic is the E&O claim of next year.

Your next carrier. The floor's carrier rooms have threads on where each product fits. Get contracted with a second carrier for your main product this week, even if it's not your first choice, so a single termination can never stop you from writing again.

If you've been through it, post what you wish you'd done in the first two days.