Insurance Agency (Bail Bonds) For Sale

Business description

This insurance producer (Agency) has the ability to contract with sub agents (Bail Agents) for an override of the premium. A percentage of the premium goes to the company that issues the bond, and a percentage stays with this company. The company shares risk in that they are liable for any bonds written by the bail bond agents, but all bonds are collaterized with either real estate or cash. The field agents (approximately 60) are long term relationships and should easily transfer to the new owner, as not much will change at point of sale of the company. The Office Manager has agreed to stay on (she currently runs the daily operations) and Seller will stay on as long as needed for a smooth transition.

This company currently writes about $42,000,000 annually in Bail Bonds. They are the 2nd largest local insurance producer in the market with 18 years history.
An insurance producer (also called an agent or insurance broker) is an individual licensed by a State's Insurance Division or Department to sell insurance in that State. There are different categories of insurance and a producer must be licensed in each category he or she wishes to transact business. Bail Bonds is one category.
An initial course of instruction is required, an insurance licensing exam must be successfully passed, and all licensing fees must be paid before an individual becomes a producer and can conduct insurance business. The license must be renewed on a regular basis and requires completing several hours of continuing education courses on ethics, law, and product knowledge.
An insurance producer must also be appointed by at least one insurance company to transact business on its behalf. He or she may be appointed with several insurance companies.
An insurance producer is usually an independent businessperson rather than an employee of an insurance company. A producer is usually paid a commission every time you make an insurance premium payment. The producer role is twofold. He or she helps the insurance companies sell their products. He or she also helps educate clients on their Bond choices, assists in submitting and following up on applications, and providing ongoing service.

Other information

Support & training:

Yes

Reasons for selling:

Wants to develop properties acquired during the ownership of the company.

Contact the seller