Our principal remuneration for sales and placement of insurance will either be by agency commission, being a proportion  of the premium paid which is allowed to us by the Insurance Company(ies) for placing insurance with them, or a fee agreed to with you.  In addition to the above, you should be aware that as a result of placing your insurance, we may receive additional income from the following sources:

Interest earned on insurance monies passing through our insurance bank accounts.

Expense allowances from Insurance Companies for managing and administering certain binding authorities and other similar facilities, including claims which may arise, all of which we believe enable more efficient service and competitive terms to be provided to those clients for whom we consider the use of such facilities appropriate.

Contingent Commissions (sometimes referred to as “profit-sharing” or “incentive commissions”) which can be used on profitability, premium volume and/or growth, or payable to reflect our processing efficiencies across a book of business placed with a particular insurance company.  Even if a contingent commission agreement exists, we recognize that our responsibility is to promote the best interests of the policy holder in the selection of the insurance company.

Administrative Service Fees which may be paid for limited services we provide to the insurance company(ies) as part of the placement process, generally across a book of business placed with a particular company, including premium billing, collection, remittance and credit control, policy document complication and record retention.

Should any client have any questions or desire additional information about remuneration and other income, please contact your Agent who will put you in touch with a senior insurance compliance officer for fulfillment of your request.