It is important for you, our customer, to know we are truly an independent insurance broker.
No insurer has loaned
money to our company.
We have no special arrangements with any insurer.
Therefore we are in a position to provide objective, unbiased, professional services and advice on your insurance needs.
As your independent Insurance Broker, we purchase insurance products and services on your behalf that are available, affordable and understandable. Our role is to provide you with the best insurance value that combines coverage, service and price.
We also provide personalized quality service that includes professional insurance advice, ongoing policy maintenance and claim support. When any issue arises regarding your insurance coverage, we are your advocate, using our professional experience to best represent your individual interest.
Detail of their standard compensation,
which would also vary as per the rate negotiated by us for you and as your business partner it will be our endeavor
to get the best minimum rate without emphasising by brokerage earning.
No.
Class of Business
Maximum percentage of premium payable as agency commission or brokerage (% of final premium excluding service tax)
1
Agency Comm.
Brokerage
Fire, IAR and Engineering insurances
i. General
10%
12.5%
ii. Risks treated as large risks under
para 19(v) of File & Use Guidelines
5%
6.25%
2
Motor insurance business (OD portion), WC/EL & statutory Public Liability Insurance
Broker Compensation