Commission Disclosure Templates
Commission Disclosure Templates
By law, your broker has to tell you how much they're making from you 😉
By law, your broker has to tell you how much they're making from you 😉
If you're mates with your broker
Hey Alex,
I’m reviewing our insurance setup and would like to understand the costs involved.
Could you please provide a breakdown of any commissions, fees, or other earnings you’ve
received related to our policies?
Specifically:
• Commission percentages and amounts from insurers.
• Any additional earnings, like profit-sharing or volume-based bonuses.
• Fees charged directly to us.
A written summary with cash figures and percentages would be great.
Best,
Jake
Hey Alex,
I’m reviewing our insurance setup and would like to understand the costs involved.
Could you please provide a breakdown of any commissions, fees, or other earnings you’ve
received related to our policies?
Specifically:
• Commission percentages and amounts from insurers.
• Any additional earnings, like profit-sharing or volume-based bonuses.
• Fees charged directly to us.
A written summary with cash figures and percentages would be great.
Best,
Jake
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If they send you emails from noreplay@broker.com
Dear Sir/Madam,
I am conducting a thorough review of our insurance arrangements and seek a detailed understanding of the remuneration structures associated with our current policies.
In accordance with the Financial Conduct Authority’s Insurance Conduct of Business Sourcebook (ICOBS) 4.4.1R, I formally request a comprehensive disclosure of all earnings you and any associates receive in connection with our insurance policies.
This includes, but is not limited to:
1. Direct Earnings:
- Commission percentages and total amounts received from insurers for each policy.
- Fees charged directly to us, separate from the insurance premiums.
2. Indirect Earnings:
- Details of any profit-sharing agreements, volume-based overrides, or other contingent emuneration arrangements with insurers.
- Payments received from premium finance companies related to the arrangement of our insurance financing.
Please provide this information in cash terms, as stipulated by ICOBS 4.4.1R, or, if exact figures are not available, the basis of their calculation. The disclosure should be presented in a durable medium, such as a written document or email, ensuring transparency and compliance with regulatory standards.
I appreciate your prompt attention to this matter and look forward to your detailed response.
Kind regards
Jake
Dear Sir/Madam,
I am conducting a thorough review of our insurance arrangements and seek a detailed understanding of the remuneration structures associated with our current policies.
In accordance with the Financial Conduct Authority’s Insurance Conduct of Business Sourcebook (ICOBS) 4.4.1R, I formally request a comprehensive disclosure of all earnings you and any associates receive in connection with our insurance policies.
This includes, but is not limited to:
1. Direct Earnings:
- Commission percentages and total amounts received from insurers for each policy.
- Fees charged directly to us, separate from the insurance premiums.
2. Indirect Earnings:
- Details of any profit-sharing agreements, volume-based overrides, or other contingent emuneration arrangements with insurers.
- Payments received from premium finance companies related to the arrangement of our insurance financing.
Please provide this information in cash terms, as stipulated by ICOBS 4.4.1R, or, if exact figures are not available, the basis of their calculation. The disclosure should be presented in a durable medium, such as a written document or email, ensuring transparency and compliance with regulatory standards.
I appreciate your prompt attention to this matter and look forward to your detailed response.
Kind regards
Jake
Copy to Clipboard
Copy to Clipboard
Copy to Clipboard
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