New Intermediary Commission Types

Flexible commission payments

You can choose your preferred commission type from the following choices:

• Initial Indemnity Commission - where you are paid the first 12 months commission upon receipt of the first premium, followed from month 13 by monthly commission for the life of the policy. If the policy cancels during the first 12 months, unearned commission is subject to clawback.
• Monthly Commission - commission is paid each month on receipt of the premium for the life of the policy.

Policies underwritten by Heritage at Lloyd's are paid on a monthly commission basis only.  If your preferred commission type is initial indemnity and you select the Heritage Product (including the premium matching service), you will be paid monthly commission for that particular case.