Define the non-competition clause as a prohibition for a resigning worker to take over the accounts for which he was paid to produce and/or serve by the employer for an appropriate period of time for i) the employer to replace the former worker with someone who can maintain the relationship between the client and the agency and ii) for information, that the former employee knows through the client, is sufficiently isolated to put the first employee and employer on a “balanced ground” with regard to competition on behalf. In our expert role, the price of this litigation is often between $10,000 and $50,000 in cases where deceased producers are involved in disputes with their former employer and could go even further into your pocket, all in the absence of a clear contract concluded by both parties before hiring. Fiduciary fiduciary account. In order to protect the insurer from the intermediary`s bankruptcy, most agency contracts and many states require the intermediary to pay the premiums collected by policyholders into a “premium fidelity trust account” with a bank that separates the funds from the manufacturer`s “operating account, where he holds the money he owns. If the producer receives 20% of the premium issued as compensation, this means that 80% of the premiums collected should be paid into the premium trust account for insurers as a group. All funds due Insurers can be pooled in a fiduciary account; it is enough to separate them from the means of production of the manufacturer. Producers who find themselves in late or non-paying situations with one or more insurers often come because they had not separated the premiums collected as required and spend more than their commission. Are you willing to go to a casino and put a $25,000 bet on the passline and let someone else roll the dice to find out if you win or lose? If you think you`re not a player, but you have producers working for you without a contract, unfortunately, you`re wrong. The first part is that the independent agent or sub-producer, or the MGU or program administrator (summarized in this section, for simplicity) owns its “expiration hours”, that is. the details of his business book (names, addresses, types of coverage, limits, expiry dates, etc.) as well as the exclusive right (between him and the insurer) to negotiate directly with the policyholders, provided that the agent or the MGU has paid in full the premiums due to the insurer for this book. . .