Will my employer know that I've sold an insurance policy outside of my employment with them?

I work for one of the major financial advisory firms out there, and am fairly new into my career there. I have an opportunity to write an extremely large insurance policy outside of my employment with my firm (because of some associations I have from my old independent insurance broker days). This policy has the potential to pay close to half of what I make in a year -- but can't be written through my company (nor would I want it to be because of the very poor payout). I can't really think of a way that my firm would knowif I wrote the policy outside, but I'm not really sure. I'm a very ethical person when it comes to my business, but I hate how restrictive they are on being able to make additional money somewhere else. Especially at my stage where things are a struggle anyway. I've gotta live and this opportunity is extremely rare. It wouldn't be the end of life to not work where I am now, so I'm willing to take a risk if there is not much reason to worry. Thanks!

It takes two shakes of a lamb's tail to figure out who you are appointed with and when your effective date is. Your employer usually has access to your credit report if they suspect anything. I would suggest you write it through your employer or quit, write the business through a better contract, and then look for other employment. The last thing you want to happen is to be terminated for sneaking around behind their back. Then you might not be able to find another job.

yes they might know.

I think you will be safe from what you say. You have to give it a try.

LIKE U SAID IT WOULDN'T BE THE END OF THE WORLD. SO I WOULD GO FOR IT. WHAT COULD BE SO WRONG IN DOING THIS.. SOME COMPANIES ALL THEY LOOK IS FOR THERE OWN INTEREST. SO WHY NOT U DO THE SAME... I KNOW IT'S WRONG BUT SOMETIMES IN LIFE U HAVE TO DO WHAT U HAVE TO DO. SO GO FOR IT...

why should they unless they are the assurer for the policy.

I wouldn't be worried about your current employer finding out as much as if you have an E&O claim. If you wrote it on your own, your E&O with your current employer would not cover you. Do you have a current E&O policy in your name that would cover this?? Anyone can sue for anything at anytime & anyone can have an E&O claim, no matter how careful you are. We had an E&O claim in our office, it had no merit & was thrown out of court, the policy defended us (but we still had to pay our $10,000 deductible - which the agency paid, not the individual that wrote the policy). If you are struggling now, I would hate to see something like this happen to you. It can also happen 10 years down the road, you never know.

If you are a captive agent, then yes they will know if and when you sell products outside of the company. Then again, they might not. Usually tho, they know if you sell another companies products.

Did they hire you on knowing that you still had credentials with other companies and that you might sell for them? If so, then you should be good. But if you had to write a letter of intent stating that you would not sell for another company, then you have problems.

i think you already answered your own question.

The way companies check to see if their reps are writing business outside of company are:

They check your appointments to see if you are appointed with another carrier, and then may ask you about it. If they ask you questions each year about outside income, this may come up.

If you are securities licensed, it would be "selling away" and they would find out in this case especially if this is a variable type sale.