Legal Question in Business Law in Georgia

Insurance Broker Compensation Claim against carrier
I am a broker of credit insurance. I represent the insurance carriers by agreement to market their products to the business sector.

An insurance carrier who is a former employer has refused to pay compensation for business written and renewed under a broker of record letter provider to the carrier from the insured. The insurance carrier claims that because I am a former employee that I can not market former clients for compensation. This was a restriction within my non compete agreement however it expired as of August 06.

There is no written contract between the insurance carrier and the brokers. We operate from a stated compensation program that the carriers in this market provides to the broker/ producer community. I have been compensated for other business written that has no prior relationship to my past employment with this carrier.

The carrier further states that it will honor the broker representation for the client but not pay me the commission until the next year when it renews.

What are my legal options? Does the carrier by law have to pay a broker for business when said representation is requested in writing by the insured?

Thank you.

HDelesandro

Asked on 10/25/06, 9:40 pm

Scott Riddle Law Office of Scott B. Riddle, LLC

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Re: Insurance Broker Compensation Claim against carrier

This is a business matter that will require many more facts, and a review of any documents. See a local lawyer.

Answered on 10/26/06, 7:31 am

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