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04/07/2015 (4)
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04/07/2015 (4)
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Last modified
3/16/2018 4:21:35 PM
Creation date
7/29/2015 2:08:35 PM
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Meetings
Meeting Type
Regular Meeting
Document Type
Agenda Packet
Meeting Date
04/07/2015
Meeting Body
Board of County Commissioners
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ATTACHMENT B <br />COMPENSATION OF BROKER <br />Compensation to BROKER <br />The following outlines the compensation to be provided to BROKER over the term of this <br />Agreement: <br />Property and Casualty Agent/Broker $ 175,000.00 <br />Insurance Services Flat Annual Fee <br />Compensation to Intermediaries <br />BROKER may utilize insurance intermediaries (such as a wholesale insurance broker, managing <br />general agent (MGA), managing general underwriter or reinsurance broker) for the placement of <br />COUNTYs insurance. The compensation received by the insurance intermediary for placement is to <br />be no more than the following in addition to above BROKER compensation: <br />Property Insurance Placements: <br />London/Internationally Based Intermediaries No more than an average of: <br />5% of premium <br />U.S. Based Intermediaries No more than an average of: <br />5%_of premium <br />All Other Insurance Placements: <br />Ancillary Insurance Placements: <br />Per full disclosure by BROKER <br />and agreement by COUNTY but no <br />more than 5% of premium <br />Per full disclosure by BROKER <br />and agreement by COUNTY but no <br />more than 5% of premium <br />NFIP Flood Insurance <br />Compensation for NFIP policies will be subject to full disclosure by BROKER and prevailing <br />commission schedules at time of placement. <br />Contingent Commissions <br />Neither BROKER nor any affiliate of BROKER will accept any commissions or consideration, <br />Attachment B <br />Page 1 of 2 <br />68 <br />
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