Compensation and Transparency
As a professional insurance services provider, Yates, LLC, facilitate the placement of insurance coverage on behalf of our clients. In accordance with industry custom, we are compensated either through commissions that are calculated as a percentage of the insurance premiums charged by insurers or a Per Employee Per Month (PEPM) fee agreed to with our clients. Retail Commissions (Carrier) – A retail commission is paid to Yates, LLC by the insurer as a percentage of the premium charged to the insured for the policy. The amount of commission may vary depending on several factors, including the type of insurance product sold and the insurer selected by the client. Retail commission rates can vary from transaction to transaction. Client Fees – Some clients may negotiate a fee for Yates , LLC services in lieu of, or in addition to, retail commissions paid by insurance companies. Fee agreements are in writing, typically pursuant to a Client Service Agreement, which sets forth the services to be provided by Yates. . Yates, LLC prides itself in the area of transparency and compensation disclosure. We believe you should understand how we are paid and also understand the services we are providing for the compensation we receive. We are committed to compensation transparency and to disclosing to you information that will assist you in evaluating potential conflicts of interest.
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