Can I roll in my existing AmTrust business?
Yes. You can roll up to $500,000 or 50% of your existing AmTrust business! Over $500,000 you can continue to roll existing business if matched with new business, inside or outside the VIP program.
Who can I contact to learn more?
Reach out to your AmTrust Sales Manager who will connect you to a member of our VIP Team.
Who can I contact to learn more?
No. It is simply a program to reward you with profitable business.
Do I have to contribute capital right away?
No. Some agents wait until they’ve built up a profitable book before taking on the risk.
Are agents required to disclose participation in the program to their clients?
There is no rule to disclose your participation since the partnership does not produce commission income. Income is derived through a dividend based on the profits generated.
When will I receive my money?
Three years after the expiration of all the policies for a given underwriting year, that year will be eligible for dividend.
Will it affect my profit sharing with AmTrust?
All premium is eligible for profit sharing if the agency qualifies for profit sharing regardless of whether its ceded to the cell.
Will it affect my E&O insurance?
Since this program is not technically a captive and has no impact on your insureds, there is no effect on your E&O insurance.
What is the benefit for AmTrust?
The Agency receives 25% of our bottom-line profit and we retain the remaining 75%; therefore, we win together or we lose together.
Should I own the stock, or should it be owned by an LLC or the agency?
All are viable options, but you should seek advice from your tax advisor.
Will you offer tax advice?
No. We do not offer tax advice.
May I speak with an existing member?
Yes. Most existing members are happy to speak with prospective members.
What happens if I suffer a large loss?
You will share 25 percent of the first $300,000 of any loss; therefore, the maximum deduction from your loss fund per claim is $75,000.
What happens if I sell my agency?
Each situation is unique and there are multiple options available. The VIP Team can discuss with you in greater detail.