Compensation and Disclosure Policy Statement
Thank you for trusting Samuel Weisman & Sons Inc. with your insurance needs. We
understand the vital role that insurance plays in providing you with financial security
and peace of mind. For the duration of what we hope will be a long relationship with you,
our first priority will be finding the most appropriate insurance coverage for you at a
reasonable cost. We are an independent insurance agent, which means we have the ability to
place insurance with a variety of companies, resulting in the best combination of
coverage, price and service for your unique situation.
In order to find the most appropriate coverage for you, our agency may also act as a “broker” when securing your 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 a “broker”. This commission percentage is set by the company 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. This compensation is known as “profit sharing” and is paid at year-end, based on a combination of business written, profitability, and retention throughout the year. We do not know if we will be receiving this additional compensation at the time an individual policy is written. On certain occasions we may charge a service fee. If this is the case, you will be provided with a service fee agreement requiring your signature that specifically states the fee charged and the services provided.
We want to assure you that, regardless, our first priority remains meeting your insurance needs to your satisfaction. We would be happy to provide you with further details about our services, our relationship with your insurance company or our compensation from that company. The entire staff of Samuel Weisman & Sons Inc. is delighted to have you as a client and welcome any suggestions that you have to assist us in serving you better. We appreciate your business.