New Agency Errors and Omissions
New to the Industry? We’d love to help!
Starting a new agency can be complicated. It’s important to understand that finding the right coverage from the very beginning is essential.
All applicants must submit a resume and a brief business plan. Neither needs to be extensive: the resume should outline your work history, and the business plan should explain how you intend to grow and sustain your agency. The application you complete depends on your insurance experience.
Fewer than 3 years of insurance experience
Your submission will be placed with RT Specialty, which markets a single application to multiple surplus lines carriers to secure the most competitive quote.
Required: RT Specialty application, resume, business plan.
3 or more years of insurance experience
Your submission will be reviewed by admitted carriers.
Required: Utica application (California agents: CITA application), resume, business plan.
A few things you may want to settle before publishing, since agents will likely ask:
Who to send it to. Add a name, email, or upload link so submissions don’t stall.
How experience is counted. Licensed years only, or any insurance industry work (e.g., CSR, Agent/Producer etc.) Clarifying this avoids borderline cases landing in the wrong path.
Timeline. A typical turnaround for quotes, takes a minimum of two weeks for non- admitted submissions.
If the quote is accepted by the insured: Payment is either due in full or a 25% down payment with the remainder financed with Capital Premium Financing.
For submissions and questions: Kim Cottrell
