A Different Way of Doing Business

HandshakeESP LLC receives NO commissions on insurance products. ESP LLC represents you. We stand firm in our position that it is not possible to appear unbiased if we have any connection to or are appointed by an insurance company. We understand the County’s desire to remain with the current commission based fee structure, however, our clients, especially those in the public setting, have found our system to be far superior and successful to have significant value. Though ESP LLC has a different approach, we feel it would be valuable for us to be part of the final interview process. We often receive agent/broker quotes through a client’s RFP process and make recommendations to the client. In some cases our clients choose not to work with an agent or broker and work directly with the carrier or third party administrator. Often the agent/brokers services are redundant. In some cases the client chooses to work through a broker for benefits and a separate broker for property and casualty. In this case we work closely with both brokers and advise directly to our client.

In Tennessee, an insurance producer who receives a commission from an insurance company, must be appointed with that company. The appointment makes the producer a representative of the insurance company who pays them, not the client. It is worth repeating – ESP LLC is paid by its clients, making our firm representative of you. Tennessee licenses “Producers.” The state stopped issuing “Broker” licenses in 1970s. Anyone collecting commissions on insurance products in Tennessee, who has not been continuously licensed as a “Broker” since that time is technically called a producer.

ESP LLC cannot agree with being named the Broker of Record for any line of business since we do not sell insurance. This would be contrary to our corporate structure. We strongly recommend, whether awarded your business or not, that the County NOT sign a Broker of Record Letter with any agent, producer (broker.) It is not necessary for an agent, producer (broker) to have a Broker of Record Letter to service your business. All the letter does is guarantee the agent, producer (broker) that no other agent, producer (broker) can receive commissions on any insurance products you purchase. The Broker of Record gets all of the commission. Regardless of who may sell you an insurance product, that agent, producer (broker) will receive 100% of the commission or credit. If the agent, producer (broker) is only charging a fee, there is absolutely no reason for them to have the letter in question.