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Allstate Exclusive Agency Agreement – OjaExpress for Business

Allstate Exclusive Agency Agreement

Allstate currently offers a Termination Payment (TPP) for outgoing agents who for some reason do not sell to third parties. Payment of termination is approximately one and a half times the agent`s annual commissions and is paid more than twenty-four (24) months after termination. The termination payment itself is often lower than the market price for the economic interest of the business book, but it at least offers some protection to the agent who is not able to find an acceptable buyer for all acts. Unfortunately, the exclusivity agreement does not guarantee that Allstate will continue its practice with respect to the provision of licensing. Agents who invest in an agency run the risk that, if they agree to be reimbursed, Allstate will not authorize a proposed sale and will no longer offer notice. In addition to litigation, Dirk regularly advises NAPAA and UFAA on their business affairs, management affairs and membership. Dirk works with agents all over the country and provides specialized assistance for the sale or purchase of an insurance agency…