GMIA does not and will not own any book of business. Your book of business is and
will remain yours. Greater Midstates' membership fee is an initial up front $500.00 one
time charge. When you are contracted by our organization" GMIA does not and will not
own any book of business. When you are contacted by our organization you will be
asked to complete a one page preliminary information form that provides in insight into
what your agency currently offers, and will give us an opportunity to supplement your
existing product portfolio. Once that is completed, we order a personal financial on the
agency principal, get an MVR, and talk to marketing representatives and carriers that
you represent. Once we assemble all this information, we send it to the owners for a
preliminary vote. Each owner files their input with the Cluster Corporate office and we
then contact you to develop copies of License, E&O, Loss Runs, etc. Generally, the
approval process takes only a few days. About one in every five agencies (20%) is
accepted. The preliminary process takes a matter of a few hours to complete. The time
required to finalize the entire process varies. The shortest finalization period was ten
days and the longest was about a year. We have the same contract for all non-equity
members. We share at the same commission level. There is an 80/20 commission split
for the first $100,000 in volume. The split slides to 90/10 when volume exceeds $100,000.
There is also a 100% contingency bonus. Our profit share program is based on a volume
driven basis. For every member that has volume to the cluster in a company, the profit
share is in proportion to your production to the total for that company.