Starke Agency, Inc. secures and otherwise facilitates the purchase of insurance coverage for its policyholder clients from a variety of insurance carriers, group benefits providers and insurance markets (collectively "Carriers") and sometimes engages the services of other entities, including wholesale brokers and premium finance companies (“Entities”), in connection with the issuance of such policies. Starke Agency, Inc. may receive compensation for such placements.
Forms of Compensation
- Commissions. In most instances, Starke Agency, Inc. is primarily compensated for the insurance brokerage services that it provides to its policyholder clients through commission payments that are based on the premium charged and collected by the Carriers, and paid for by the Carriers for each insurance policy secured for Starke Agency’s clients. This commission is built into the premium set by the Carrier. The percentage of these commissions varies by insurance policy type and insurance market.
- Additional Compensation. Starke Agency also may receive additional compensation from certain Carriers and Entities with whom it places business. Such additional compensation is sometimes referred to as contingent and/or supplemental commissions and may be based on a variety of factors, including without limitation, profitability, premium volume, and/or growth.
We are committed to earning your confidence through undivided loyalty and professionalism. Therefore, we are pleased to answer any questions you may have and will furnish a copy of these agreements.