Broker’s Role and Compensation
Cobbs Allen (“Broker”) is authorized by our license to confer with insurance purchasers about the benefits, terms and conditions of insurance contracts and to obtain insurance for purchasers.
Subject to any written client services agreement between the parties, compensation may be paid to Broker based on the insurance contract Broker sells; or, depending on the insurer(s) and insurance contract(s) the purchaser selects, compensation will be paid by the insurer(s) selling the insurance contract or by another third party. Such compensation may vary depending on a number of factors, including the insurance contract(s) and the insurer(s) the purchaser selects. In some cases, other factors such as the volume of business Broker provides to an insurer or the profitability of insurance contracts Broker provides to an insurer also may affect compensation.
The insurance purchaser may obtain information about compensation expected to be received by Broker based in whole or in part on the sale of insurance to the purchaser, and (if applicable) compensation expected to be received based in whole or in part on any alternative quotes presented to the purchaser by Broker, by requesting such information from Broker.