General agents worried about their future

General agents maintain their rejection of the proposed amendment of the insurance code, considering that the amendments in the law are favorable to brokers and prejudicial to their profession.

Introduced last June, the text allows, among other things, the brokers to open an unlimited number of outlets and removes the requirement imposed on them to obtain professional qualifications. Moreover, in the event of death of a general agent, the choice of replacement is no longer in the hands of beneficiaries but in the company’s.

Agents are demanding the standardization of the agreements of appointment and of financial guarantee for the access to the profession. They also wish to obtain a revision of the commission system. They receive a commission only on new business unlike brokers who are also entitled to another one upon the renewal of policies.