Paragon Insurance Services Compensation Disclosure
GDI Insurance Agency, Inc. and Paragon Insurance Services
GDI Insurance Agency, Inc. (“GDI”) and Paragon Insurance Services takes pride in providing services to our clients and believes you should understand how we are paid for these services.
GDI Insurance Agency, Inc. and Paragon Insurance Services may receive compensation in several ways, including commissions paid by an insurance company, calculated as a percentage of premiums and/or negotiated fees paid by the client in lieu of, or in addition to, commissions. These commissions and/or fees received are for the placement/renewal of a client’s insurance, day-to-day servicing, and other services related to your policy that GDI has agreed to provide for client. Additionally, GDI may provide separate risk management and other services to client for a separate negotiated fee.
Paragon Insurance Services may also be eligible to receive other forms of compensation such as incentive or contingency payments or bonuses and/or supplemental commissions from insurance companies or other third parties (collectively “Additional Compensation”). Contingency payments or bonuses are based on the overall performance of a partial or entire book of business that GDI or Paragon Insurance Services places with an insurance company. Our eligibility and the compensation amount may vary depending on the line of business and several factors established by the insurance company, such as future performance, overall premium volume, premium growth year-over-year, profitability and/or customer retention.
GDI and Paragon Insurance Services may also receive interest or investment income on funds temporarily held by it such as premiums or return premiums.
If your policy is premium financed, GDI and Paragon Insurance Services may receive compensation from premium finance companies for arranging the premium financing on your behalf.
Please contact GDI and Paragon Insurance Services if you have specific questions regarding the compensation GDI receives as it relates to your account.