Commission
As soon as you have met licensing requirements and your appointments are in place, we will need the following submitted to Meg Burris at mburris@clements.com.
- Preferred Method of Payment
- Producer Commission Agreement (signed by broker/agent) - provided to you by Clements International.
Please keep in mind that we must receive the above forms before commissions can be paid. For additional information on our commission procedures, please see below:
- Payment Schedule
- Renewals
- Cancellations
Payment Schedule
Producers will receive the stated commission within thirty (30) days of the close of the previous month’s production; provided the transaction was completed in the underwriting system before the close of that month, and premium payments due have been received by Clements. If installment payments are chosen, commissions will be based on the amounts paid by the client. Clients will be billed directly for subsequent installments. As additional installment payments are received from policyholders, commissions will be disbursed. Installment billing will be set up according to these selected options:
Payment in Full or Installments for annual premiums over $1500:
- For Premiums under $1500/annually
Option 1
50% deposit with application
50% due 90 days after effective date
- For Premiums over $1500/annual
Option A
50% deposit with application
50% due 90 days after effective date
Option B
40% deposit with application
30% due 90 days after effective date
30% due 120 days after effective date
Commissions are paid on the 15th of each month. In addition, you will receive a monthly reconciled statement from our accounting department. Please note: We allow 60 days to contest any discrepancies in your commission statement.
Renewals
Renewals notices will be submitted directly to the policyholders 90 days before the expiration date. Upon receipt of their payment, additional renewal commission payments will be made based on payment amount.
Cancellations
If Clements International, the insuring company or the insured finds it necessary to cancel any policy prior to renewal, this cancellation and adjusted commission will be reflected in the following month’s statement. If there is not an earned commission for the next statement, then a bill will be issued for the unearned/return commission amount and immediate payment will be expected.
All commission inquiries should be made to Meg Burris by calling toll-free at 1.800.872.0060, Monday through Friday, 8:00 a.m. to 5:00 p.m. EST. You can also reach her via e-mail at mburris@clements.com or send a fax to 202.521.4049.
Click here to download a PDF version of the broker commission schedule.