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The Agency will receive an agency producer fee for services rendered. The Service Provider will pay this fee directly to the Agency. The agent producer fee is determined by a graduated agency producer fee scale as follows:
8% on the first $1,000 of premium
5% on the next $4,000 of premium
3% on the next $95,000 of premium
2% on premium in excess of $100,000
Agency Producer Fee Table
|
Standard
Premium Interval |
Agency Producer Fee
Percentage |
Standard
Premium Interval |
Agency Producer Fee
Percentage |
|
0–1,017 |
8.0% |
6,342–6,667 |
5.0 |
|
1,018–1,053 |
7.9 |
6,668–7,027 |
4.9 |
|
1,054–1,091 |
7.8 |
7,028–7,429 |
4.8 |
|
1,092–1,132 |
7.7 |
7,430–7,879 |
4.7 |
|
1,133–1,176 |
7.6 |
7,880–8,387 |
4.6 |
|
1,177–1,224 |
7.5 |
8,388–8,966 |
4.5 |
|
1,225–1,277 |
7.4 |
8,967–9,630 |
4.4 |
|
1,278–1,333 |
7.3 |
9,631–10,400 |
4.3 |
|
1,334–1,395 |
7.2 |
10,401–11,304 |
4.2 |
|
1,395–1,463 |
7.1 |
11,305–12,381 |
4.1 |
|
1,464–1,538 |
7.0 |
12,382–13,684 |
4.0 |
|
1,539–1,622 |
6.9 |
13,685–15,294 |
3.9 |
|
1,623–1,714 |
6.8 |
15,295–17,333 |
3.8 |
|
1,715–1,818 |
6.7 |
17,334–20,000 |
3.7 |
|
1,819–1,935 |
6.6 |
20,001–23,636 |
3.6 |
|
1,936–2,069 |
6.5 |
23,637–28,889 |
3.5 |
|
2,070–2,222 |
6.4 |
28,890–37,143 |
3.4 |
|
2,223–2,400 |
6.3 |
37,144–52,000 |
3.3 |
|
2,401–2,609 |
6.2 |
52,001–86,667 |
3.2 |
|
2,610–2,857 |
6.1 |
86,668–107,619 |
3.1 |
|
2,858–3,158 |
6.0 |
107,620–118,947 |
3.0 |
|
3,159–3,529 |
5.9 |
118,948–132,941 |
2.9 |
|
3,530–4,000 |
5.8 |
132,942–150,667 |
2.8 |
|
4,001–4,615 |
5.7 |
150,668–173,846 |
2.7 |
|
4,616–5,098 |
5.6 |
173,847–205,455 |
2.6 |
|
5,099–5,306 |
5.5 |
205,456–251,111 |
2.5 |
|
5,307–5,532 |
5.4 |
251,112–322,857 |
2.4 |
|
5,533–5,778 |
5.3 |
322,858–452,000 |
2.3 |
|
5,779–6,047 |
5.2 |
452,001–753,333 |
2.2 |
|
6,048–6,341 |
5.1 |
753,334–2,260,000 |
2.1 |
|
|
|
2,260,001 and over |
2.0 |
The agency producer fee is paid on standard premium exclusive of any surcharges and the flat fee.
The agency producer fee is paid on both the original policy and on each subsequent renewal. The Agency is not to deduct the agency producer fee when sending in the deposit and advance premiums or a payment. The Service Provider will pay the agency producer fee by sending a check.
Agency producer fee checks will only be made payable to the Agency. Only one Agency and one Designated Producer for each Policyholder can be recognized by the Service Provider at any one time. This will be the Agency identified on the original Application for Coverage and the Designated Producer who signed the original FWCJUA Application for Coverage, unless a change is properly requested by the Policyholder. Please refer to the Policy Change Procedures, Change of Agency and/or Designated Producer found in the Agency and Designated Producers section of the FWCJUA Operations Manual.
If an overpayment of premium occurs due to an overestimate of exposures as determined on audit, or because of a reduction in the experience modification or some other reason, any excess agency producer fee paid by the Service Provider is to be returned by the Agency. The agency producer fee is to be paid by the Service Provider within thirty (30) calendar days from the premium payment.
As to any additional audit premium billing, no agency producer fee on the additional audit premium will be paid to the Agency if such premium is not received by the Service Provider within sixty (60) calendar days from the billing date.
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