Brooke Insurance
BXXX, Brooke Agency, Brooke Franchise, Brooke Credit, Agencies4sale.com, Brooke Corporation business practices consist of failure to perform, breach of contract, and breach of fiduciary duty among others, Phillipsburg

Once you sign on the dotted line the Brooke nightmare begins! Brooke doesn't live up to any part of their end of the bargain. What they sell franchisees is equivalent to buying a car that has no engine and then in the dark of night, Brooke sneaks up and steals the tires! Numbers on the books of business they sell are inflated which leads to projections that are impossible to accomplish and the agency fails within a few years (now the turnover time is even less 6-18 months).

Brooke skims off the top of the commissions that should be paid to the agent. All deposits are made into a trust account over which the agent has no authority or control. The monthly statements provided by Brooke (no agent gets a statement directly from the carriers) are so convoluted you have to hire an accounting agency to make heads or tails of them. Between orphan accounts* and missing on lines* the agent has to spend a ridiculous amount of time attempting to prove to Brooke every transaction the agent makes has to go through Brooke's own fabulous management system and that you can't receipt a payment, create a new policy or make a deposit without going through Brooke's system (ie, there shouldn't be any questions from Brooke about what comes in/goes out of the agency). Before you know it, you have a negative balance and Brooke is attempting to make a huge debit from your operating account and, of course, it bounces so you just have more frivolous fees that you now owe Brooke.

When you do question Brooke's policies, they suggest you establish an exit plan and they stop responding to any of your questions. Next thing you know you're signing for certified mail from Brooke that ends up being your foreclosure notice. Brooke employs a team of attorneys and once Brooke finishes sucking the individual agent dry, none of the agents can afford to fight Brooke in court so bankruptcy becomes the only option.

All in all, if you are looking at buying into this Crooke of a company, ruuuuunnnnnnn! Biggest mistake I've ever made and my family is paying the price for it. Once the kids are tucked in bed and my spouse and I are attempting to fall asleep, we look at each other and say I can't believe this is happening to us. It is truly a nightmare! Our only light at the end of this dark tunnel is knowing that the end is near for this scam of a company and hoping that by sharing our story at least one innocent family will be spared.

Go to yahoo-finance & type in stock/ticker symbol BXXX. Look at the "message board" section to see just how many agents across the country are being ruined.

*Orphan accounts are new policies where Brooke says they have not received all of the documents from the agency which are necessary to write the policy. (Brooke doesn't show a credit on the monthly statements for these orphan accounts).
* Missing On lines - Brooke will claim your deposits can't be reconciled. Brooke will stand by their incompetence on this issue even after you fax over (multiple times) the receipts from each payment entered into the Brooke system & the deposit slip showing the total deposit made into the trust account you have absolutely no control over.

Company: Brooke Insurance
Country: USA
State: Kansas
City: Overland Park
Address: 10950 Grandview Dr. Ste 600

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