Direct Select Agencies offers 100% commissions on all new business policies issued through our preferred carrier partners. Renewals will be paid at 70% of net commissions initially, with the ability to earn up to 100%. Direct Select Agencies will receive commissions from the carrier and distribute to the agency each month as paid. Commissions are calculated based on the access point in which the policy was issued.
Exhibit A – COMMISSION TABLE
|Agency - Preferred Carrier Commission Participation**|
|All-Other Admitted Carriers are a Stated Commission Rate|
|New Business||$40,000 Annual NWP MIN||100%|
|Renewals Tier 1||< $500,000||70%|
|Renewals Tier 2||> $500,000 - $800,000||80%|
|Renewals Tier 3||> $800,000 - $1,500,000||90%|
|Renewals Tier 4||> $1,500,000||100%|
100% new business commission percentages are based on admitted Preferred Personal Lines business – Click Here for eligible carriers and stated contract percentages
Carriers may charge service center fee’s, which is reduced off of net commission amount.
All-Other admitted carrier business produced will count towards renewal premium thresholds for preferred carrier participation schedules.
Net monthly commissions will be calculated by adding new, endorsement, and renewal business, less chargebacks.
Chargeback premium includes policy cancellations and MVR usage.
All commissionable and chargeback activity will be listed on the monthly commissions statement.
Surplus lines policies will not count to the overall size of the book