Secure Your Future with Northlake!
The challenge has never been greater. Given the state of the industry, the constant threat of natural disaster, and natural competition, an independent agency can feel overwhelmed, but there are alternatives. Perhaps now is the time to consider the strength multiplier, that comes with membership in a respected group of like-minded, independent agents such as Northlake Insurance Group Ltd.
For the past 34 years, Northlake has helped its members navigate difficult markets, maximize earnings through contingency and bonus plans, and share valuable information amongst a highly experienced group of insurance professionals to make their dreams come true. While Northlake was founded in 1989, the lineage of our members dates as far back as the early 20th century.
Our members are located within Louisiana, but expansion is bringing us quickly to neighboring states. Contact us to learn more about how the advantages of a Northlake membership can help you achieve your goals!
New Member Frequent Questions:
Please select a question to view an answer.
• An NDA is required and executed at the beginning of the evaluation process.
• The Non-Compete is executed upon acceptance of membership.
The Northlake charter is structured such that all members (agency owners) enjoy ownership rights to the cluster. Each member also has 1 voting seat on the Northlake Board of Directors
To maximize the earning potential of the group, we expect minimum premium growth of 10%.
• Yes, Northlake would consider acquiring agencies
• After proper due diligence, the findings would be presented to the board of directors. The decision to proceed would require a vote by the board.
Yes. There is no requirement to convert agency systems.
• The board of directors rules on a variety of matters that meet our predefined threshold.
• The Chief Executive Officer manages Northlake operations.
• Bonus/profit share earnings are based on the specific agreement with each contracted carrier or broker and are paid to Northlake.
• The amount distributed to each member is based on their level of production, by contracted company, expressed as a percentage. For bonus (based on growth), if an agent contributed 10% of the total direct written premium with a company, they would receive 10% of the total bonus money paid. Profit share money is based on a variety of factors, but the payout, based on each agency’s contribution, is the same.
• Bonus/profit share is paid within the same month it is received.
• For carriers that a new member has a direct contract with, and Northlake has an existing bonus/profit share contract, those carriers are considered a Northlake Company and remain part of the Northlake cluster.
• If Northlake doesn’t have a contract with a particular company, then that company isn’t considered a Northlake company.
No. There is no minimum commitment. The Bylaws stipulate a proper notification period of 180 days prior to separation date.
• Leaving the group, which can occur for a variety of reasons, is the decision of each member. It is neither a difficult of burdensome process. We do have rules governing such considerations as proper notification, redeeming Northlake stock, and the surviving non-compete agreement.
• An involuntary removal of an agency member has never occurred since Northlake was formed in 1989.