We are typically paid a percentage of the total premium, excluding tax, as commission compensation for the service which we provide.
Our commission levels range from a low of 3% in respect to home and auto insurance to a high of 30% for surety; we perform many of the administrative functions of an insurance company in respect to commercial liability and surety insurance, with the exception of claims administration and our commission levels include a provision for these functions within the numbers shown above.
We also manage the distribution of executor liability insurance through licensed insurance agents and brokers nationally, and we pay a sales commission to those agents and brokers. In the event these commissions increase, we will update this disclosure statement accordingly.
We represent multiple insurers either directly by contract, or through wholesale Managing General Agent distributors. ERAssure Executor Liability policies are underwritten exclusively through HDI Global Specialty SE – Canadian Branch; other lines of insurance and surety are placed through other underwriters as required on a case by case basis.
We may undertake specialty underwriting projects on what is termed Fee for Service arrangements; in these cases, we will negotiate the applicable fee with the client in advance of the project.