Chartwell Insurance Services is committed to providing the highest level of customer service. This includes disclosure of our compensation arrangements from insurance companies.
As an independent insurance agency, Chartwell receives compensation from insurance companies in two ways. First, and most typical, are commissions paid to Chartwell by insurance companies on new and renewal policies. The commissions are usually a fixed percentage of policyholder premiums. The amount of the commission varies with the type of policy sold. A second form of compensation is a contingent commission paid to Chartwell by an insurance company. Being “contingent,” these commissions are not an automatic source of compensation as payment is made only if certain conditions are met. These conditions may include the profitability, premium volume, premium growth or account retention relating to the business Chartwell places with an insurance company, usually determined over a twelve-month period.
If you have any questions regarding Chartwell’s compensation arrangements, please contact us.