Our commission guarantee
3XD recognise that the payment of commissions on general insurance products is an emotive subject for intermediaries. To this end, we have worked hard with our underwriting partners to achieve highly attractive commission levels based on extremely competitive premium rates. More importantly, all our commissions are paid subject to the following commission guarantee: Commission Guarantee for Directly Authorised Intermediaries If your intermediary agreement with 3XD is terminated because you retire, change profession or cease to deal with regulated products we will assume servicing of the client and continue to pay your commission entitlement at the original commission level. Commission payments will continue as long as the client pays the appropriate premium and the policy remains in force. Alternatively, you also have the facility to sell or transfer the servicing and commission rights of the policy to another registered intermediary (subject to our approval). There are however certain circumstances when the payment of commission will cease on termination of your agreement with 3XD and these are detailed below: - You go into liquidation on either a compulsory or voluntary basis
- A receiver is appointed in respect of the whole of any part of your assets
- You or any of your employees, agents, servants or representatives act fraudulently or dishonestly in respect of your obligations under the agreement
- You or any of your employees, agents, servants or representatives is convicted of a criminal offence other than a road traffic offence (unless we have agreed otherwise in writing)
- We are required to cease payment of commission by law or other regulatory requirement
Commission Guarantee for Appointed Representatives If your intermediary agreement with 3XD is terminated because you retire, change profession or cease to deal with regulated products we will assume servicing of the client and continue to pay your commission entitlement at the original commission level. Depending on your network, we will pay commissions on a direct basis or via your network. If we pay via your network, you should check with them what would happen if you ceased to be an appointed representative. If we pay via your network and your network goes out of business, we will pay commission direct to you from the next monthly commission payment due.
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