Why Risk It? Effective Non-Piracy Agreements Protect Your Business

Gary W. Miller

Owning an insurance agency does not equate to “owning” the customers it services. If the agents who have the relationships with those customers leave, the business will be at risk. It is the difference between owning and renting a business, and it’s not something savvy insurance agency owners want to to face without protection.

How do you fairly protect the business and attract and retain good agents? What happens to the business when and if its better producers depart for another agency? What is fair to both the agency and the agent producer? Insurance agency owners operating without non-piracy agreements in place are putting their business at risk and likely diminishing the value of their agency in a potential sale transaction.

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