Post-employment covenants have been a hot topic in the insurance press with allegations of people not waiting their term before contacting old customers. Breaching covenants could lead to severe and costly consequences, so it’s important that you fully understand the restrictions in place by getting good advice. This advice should be a critical part of any decision-making process when it comes to your next career move.
In the UK alone, more than 800 account executives and client facing insurance brokers have moved employers in the last 12 months. The world of insurance broking continues to deliver great opportunities for those who are looking to progress their careers. With the extent of people moving around, there is no doubt that books of business will follow and this will be a topic we will be hearing a lot more about in the coming months.
There is a huge number of misconceptions when it comes to covenants, and you may be pleasantly surprised that they aren’t as onerous as you may have thought!
It can be extremely tempting to contact clients if you have a restrictive covenant, but it’s important to remember that, if relationships are strong, they will still be there when the restrictions end.
Momentum Broker Solutions is an award-winning principal firm that has a proven track record of supporting insurance professionals gain financial freedom. We know about the significance of post-employment covenants, the concerns they bring and how to navigate around them.
Our professional and invaluable advice is not only free but completely confidential. A quick phone call might just be the catalyst to realising the dream of self-employment and financial freedom.