Compensation - How We Are Paid

We are a licensed insurance brokerage employing licensed agents.  We are also licensed as a Third Party Administrator.

We typically act as a broker/agent.  When acting as an agent, commissions paid by the insurance companies out of premiums paid compensate us.  Commissions are a percentage of the premium paid by the insurer (client)  for a specific policy.  They are included in the premium paid by  you, which the insurer then pays to us.  Using a brokerage agency does not increase the amount of premium paid to the carrier.  The commission level is established in the form of an agency agreement and is the same for all brokers in a given geographic area.

We may also act as a TPA (Third Party Administrator).  Any income paid to us by clients must be paid pursuant to a written agreement wherein it is clear that we are acting as an administrator.  Administrator fees are for additional services beyond placement of an insurance policy such as for COBRA Administration or Third Party Administration (Flexible Spending, Dependent Care Plans, HRA's).  Before we begin any administration plan services all fees are disclosed and an agreement is written between our client and us.

If you have any questions regarding how we are compensated please contact Gregg Mann, VP at gmann@corbenconsultants.com.