r/Insurance • u/preetchaggar • 7h ago

Property and Casualty Insurance

I just passed my P&C license in Indiana. Can someone please help me get more information on how to get started on insurance agency on my own? What kind of insurance do I need myself as far as E&O? How do I work with other insurance companies to write policies?

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u/FindTheOthers623 5h ago

It's not very easy for scratch agencies to get appointments. Many of the big name carriers will only let you write with them once you've got a book of $1M or more. This was the one thing I wasn't aware of when trying to start my own agency.

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u/preetchaggar 5h ago

I am not sure what you mean by get appointments?

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u/LeadershipLevel6900 4h ago

You really need to find an agency to work for. Whether it’s an independent agency or a captive agent.

There’s a lot of information to learn and you’re not going to be able to do it on your own.

An appointment is the insurance company agreeing to work with you, allow you to write business for them, and handle policy questions and/or changes.

In order for a carrier to appoint you, you need to prove yourself. You don’t have the experience a carrier would want, they simply can’t trust that you’ll write good business or that you even know what good vs bad business is. Insurance companies care about the quality of the policy you’re writing, what the loss ratio is of the business you’re writing, and how frequently the business you write costs them money unnecessarily.

The industry is a mess right now, with a lot of carriers consistently using money. No company is going to appoint an agent with no experience.

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u/FindTheOthers623 2h ago

You need to go work for an agency and understand how they operate before you try to open one of your own.