Warnings over wholesale.
Brokers must ensure they get proper agency agreements from wholesale brokers if they are to avoid le...
Brokers must ensure they get proper agency agreements from wholesalebrokers if they are to avoid legal wrangles, according to Richard Guthrie,
managing director of Donald Rigg Insurance Brokers.
Mr Guthrie nearly went out of business when his wholesaling agreement
turned sour. His client was locked into a long-term agreement with the
wholesaling broker, meaning the client took a relaxed attitude when the
renewal date went by with no renewal papers. The end-client suffered a
major loss, however
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