What does it cost to be apart of the Vesuvius Group?
There is a reasonable initiation fee that we feel is appropriate for membership to this type of group. We would be more than happy to discuss this with you.
Will I get profit sharing right away?
Yes, profit sharing is distributed in transparent way. All reports and production amounts are provided to the partner agent well in advance of receiving its calculated share.
How does profit sharing work?
- Profit Sharing bonus is paid on per carrier basis.
- 50/50 split to Vesuvius Group Inc until an agency qualifies on its own individually. Once agency reaches individual profit-sharing requirements agency now moves to Enhanced Profit Share Margin where the difference in only the % gain of profit sharing is split 50/50
Whats the difference between agent appointment & a sub-code?
Getting appointed with a carrier through the group gets you binding authority with that carrier all liability still remains with the group. A sub-code creates a separation between the agency and the Vesuvius Group. The Liability shifts from the group to the agency.
What do I actually need to start?
We require that you have an established Entity with Licensing. You also need active Errors & Omissions policy with at least 2,000,000 Each Occurrence & Aggregate Limits.
You also need to complete the Formal Agency Application
Click Here to see the printable application
Can I get sub-codes right away?
We will look to advance any sub-code process within reason with each carrier. Each carrier has the discretion whether or not to sub-code a new agency or not.
Can I get appointed with each company?
Yes in order to bind policies through the group each person in your agency responsible for binding policies will be appointed through the group with the carrier and have full binding authority.
How long does it take to actually get started?
I can vary but we can usually have you up in running in as little as a few days.
How do access the companies with out sub-codes?
We have proprietary software access that allows you to quote bind and issue policies through our system.
Do you help me get appointments with the carriers?
Yes, we will actively reach out to insurance companies and present and agency that can meet the demands of the insurance companies.
Do I have to use the same management system as the group?
No, we understand that every agency operates differently.
Who owns the Vesuvius Group?
The Vesuvius group is privately owned and operates by the means of an Executive Board and a Board of Directors that serve at the pleasure of the shareholders.
Is there a commission split on no sub-coded business submitted through the group?
No, there is only 50/50 split between agent writing and the Vesuvius group when utilizing the commercial lines service department to place and service commercial accounts
How long does it take to get paid commissions on policies written through the Vesuvius Group?
Polices places through the Vesuvius Group master codes with pay commissions via ACH transfer to the partners business operating account by the 15th day of the month after the commission has been received by the Vesuvius Group.
Can I just broker business through the Vesuvius Group?
No, the Vesuvius Group does not broker business on behalf of agents or unrecognized agents through partner agents in any way. You must be a approved partner agent to place business through the group master or sub-codes.