Compensation Disclosure Statement

IBD discloses information regarding our compensation packages in order to promote a better understanding of our business relationship with our clients. This compensation disclosure statement explains our compensation packages as they relate to you and other clients.

Basic Fee Structure

In some instances, we receive compensation directly from our clients in the form of fees. These fees are contingent upon the type of service(s) provided.

Commissions

Some clients prefer to pay for our services via commissions included in their insurance plans. In many situations, the insurance carriers have commissions as part of their filing with the NC Department of Insurance and they cannot remove them. IBD will advise clients when these instances occur if they wish to pay on a fee basis.

Mixed Payment

In some instances, we receive compensation directly from our clients in the form of fees. These fees are contingent upon the type of service(s) provided.

Volume-Based Bonuses

IBD also receives compensation from carriers in the form of bonuses based on our overall volume of business. These bonus payments are not included in the administrative or operating expenses of a specific group and are not attributable to the rates of any specific group. These bonuses are part of the overall marketing expense for the various insurance carriers. Prior to purchasing products from these carriers, IBD will disclose to you whether the carriers provide such incentives to us.

IBD recognizes that businesses have many different needs, and we try to provide the flexibility in our compensation practices to accommodate all needs. Should you have any questions concerning our compensation packages or how these packages may affect you, please do not hesitate to contact our office.