Thank you for trusting Maran Corporate Risk Associates with your insurance needs. We understand the vital role that insurance plays in providing you with financial security and peace of mind. You should know that our first priority is finding the most appropriate insurance coverage for you at a reasonable cost.
As an independent insurance agent, we have the ability to place insurance with variety of companies. We provide the best value for our clients by combining the best coverage, price, and service offered from a variety of insurance companies we do business with.
We often obtain quotes and ultimately place business with insurance companies we have a contract with. In that situation we are an agent of the insurance company.
Sometimes, in order to find the most appropriate coverage for you, our agency may also act as a “broker” when securing you coverage. In a “broker” relationship we do not have an agency contract with a particular insurance company but we are able to place coverage on your behalf.
Our agency is compensated on a commission basis by the insurance company that writes your insurance, whether we are acting as an “agent” or as a “broker”. This commission percentage is set by the insurance company, not by us, and is included as a part of the insurance premium you pay.
Our agency’s compensation might also include incentives in addition to standard commissions when we act as an agent. This compensation is known as “profit sharing” and is paid at year-end, based on a combination of the total amount of business written, the profitability of that business and customer retention throughout that year. We do not know if we will be receiving this additional compensation at the time an individual policy is written. In lieu of profit sharing arrangements some companies we place business with pay us additional compensation known as “supplemental commission”. In this scenario, we are paid additional commission based on past performance.
We want to assure you that, regardless of our commissions or other forms of compensation, our first priority remains meeting your insurance needs to your satisfaction. Please contact us if you want us to provide you with further details about our services, our relationship with your insurance company or our compensation from that company. We appreciate your business.