Glocal Insurance Services LLC advocates complete disclosure regarding its sources of income to clients. We may receive compensation in a number of ways, including: (1) commissions paid by an insurer, calculated as a percentage of premiums, or; (2) negotiated fees paid by the client in-lieu of or in addition to commissions. These commissions or fees received are for the placement/renewal of a client’s insurance/risk management program, day-to-day servicing, risk control services and/or other services Glocal has agreed to provide on a client’s behalf.
Glocal may also be eligible to receive other forms of compensation such as incentive or contingency payments, bonuses, supplemental commissions or service fees from insurance companies, other intermediaries or other third parties, which may be affiliated with Glocal, as a result of being an insurance broker (collectively “Additional Compensation”). Glocal may also receive interest or investment income on funds temporarily held by it, such as premiums or return premiums and/or service fees or other compensation from premium finance companies for administrative services provided to or on behalf of premium finance companies relative to the financing of client insurance premiums.
Should you have additional questions regarding the compensation Glocal receives as it relates to your account, please contact your Glocal representative.