Contingent Compensation. Xxxxxx Xxxxxx Xxxxxx may accept certain forms of contingent compensation in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether Xxxxxx Xxxxxx Xxxxxx accepts contingent payments or not. If a Xxxxxx Xxxxxx Xxxxxx client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations. FATCA The Foreign Account Tax Compliance Act (FATCA) is a U.S. law aimed at foreign financial institutions and other financial intermediaries (including insurance companies and intermediaries such as brokers) to prevent tax evasion by U.S. citizens and residents through offshore accounts. In order to comply with FATCA, insurance companies and intermediaries must meet certain legal requirements. Insurance placed with an insurance company that is not FATCA compliant may result in a 30% withholding tax on your premium. Where FATCA is applicable to you, in order to avoid this withholding tax, Xxxxxx Xxxxxx Xxxxxx will only place your insurance with FATCA- compliant insurers and intermediaries for which no withholding is required unless you instruct us to do otherwise and provide your advance written authorization to do so. If you do instruct Xxxxxx Xxxxxx Xxxxxx to place your insurance with a non-FATCA compliant insurer or intermediary, you may have to pay an additional amount equivalent to 30% of the premium covering U.S. - sourced risks to cover the withholding tax. If you instruct us to place your insurance with a non-FATCA compliant insurer but you do not agree to pay the additional 30% withholding if required, we will not place your insurance with such insurer. Please consult your tax adviser for full details of FATCA.
Contingent Compensation. Xxxxxx Xxxxxx Xxxxxx may accept certain forms of contingent compensation in locations where they are legally permissible and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether Xxxxxx Xxxxxx Xxxxxx accepts contingent payments or not. If a Xxxxxx Xxxxxx Xxxxxx client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations.
Contingent Compensation. Xxxxxx Xxxxxx Xxxxxx may accept certain forms of contingent compensation in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether Xxxxxx Xxxxxx Xxxxxx accepts contingent payments or not. If a Xxxxxx Xxxxxx Xxxxxx client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations. WillPLACE WillPLACE, a proprietary online tool, provides Xxxxxx Xxxxxx Xxxxxx brokers with access to global placement information so that we can seek to develop solutions for you with appropriate markets at competitive prices and terms. Some insurers pay Xxxxxx Xxxxxx Xxxxxx an Administration and Maintenance Fee for reporting on their book of business. Some of these insurers pay Xxxxxx Xxxxxx Xxxxxx an additional fee: (i) equal to 1% of the premium cost for placements matched through the WillPLACE system; or (ii) negotiated as a fixed fee, including where required by the law of a particular jurisdiction, or where such services are provided under a broader agreement covering a range of carrier services. Insurers have agreed that they will bear this fee as part of their operating costs and not to increase premiums directly payable by Xxxxxx Xxxxxx Xxxxxx’x clients.
Contingent Compensation. Xxxxxx Xxxxxx Xxxxxx may accept certain forms of contingent compensation in locations where they are legally permissible and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether Xxxxxx Xxxxxx Xxxxxx accepts contingent payments or not. If a Xxxxxx Xxxxxx Xxxxxx client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s current and future business from their contingent payment calculations. XXXXXX, MarineMar and TerrorMar“Mar Arrangements”) Business lines within Xxxxxx Xxxxxx Xxxxxx which operate Mar Arrangements have separate teams that provide a wide range of services direct to certain insurers that place business for the Mar Arrangement relevant to that business line. A separate fee is paid by insurers for the delivery of these services to them. This fee is calculated within a range of 3.125% and 7.50% (plus VAT) of the overall premiums placed depending on the scale of services provided. Insurers have agreed that they will bear this fee as part of their operating costs and not to increase premiums directly payable by Xxxxxx Xxxxxx Xxxxxx’x clients. Panels Xxxxxx Xxxxxx Xxxxxx develops panels of insurers in certain market segments. Participating insurers are reviewed on a variety of factors. Commission rates on panel placements may be higher than rates paid on business placed outside of the panel process. Xxxxxx Xxxxxx Xxxxxx discloses its commission rates to clients on quotes obtained through the panel process prior to binding the coverage. Your Xxxxxx Xxxxxx Xxxxxx broker will provide you with additional information on Xxxxxx Xxxxxx Xxxxxx Panels upon request. Brokerage on Fee Business In some territories outside of North America, Xxxxxx Xxxxxx Xxxxxx obtains brokerage on business where our client pays us a fee. Our intention is to seek remuneration for work that Xxxxxx Xxxxxx Xxxxxx carries out for all parties in the insurance transaction but for which Xxxxxx Xxxxxx Xxxxxx is not otherwise sufficiently compensated. Some examples of this are the vastly-increased cost of regulation, distribution and infrastructure costs. This brokerage that Xxxxxx Xxxxxx Xxxxxx receives is a set percentage and is not contingent on achieving any level of growth, retention or profit on the business concerned. You can choose to...
Contingent Compensation. In addition to the compensation described above and in Section 3.1 (unless comparable compensation is provided for under the terms of a separate employment or consulting agreement):
Contingent Compensation. The Group may accept certain forms of contingent compensation in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether The Group accepts contingent payments or not. If a Group client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations.
Contingent Compensation. If Purchaser or its assignee produces a motion picture materially based on the Work, and Owner is not in breach of this Agreement, then in addition to the compensation set forth above, Purchaser shall pay to Owner additional, contingent compensation (“Contingent Compensation”) equal to two Percent (2%) of One Hundred Percent (100%) of Purchaser’s (Common Shareholders’) cash distribution, if any, earned and received by Purchaser from exploitation of the first motion picture based on the Work only if Owner receives sole screenplay credit. If Owner receives shared screenplay credit, then Owner shall receive One Percent of One Hundred Percent (1% of 100%) of Purchaser’s (Common Shareholders’). Purchaser’s (Common Shareholders’) cash distribution shall be defined, calculated and payable pursuant to the same definition and calculation as contained in the agreement between Purchaser or its assignee and the motion picture’s financing entity, a copy of which will be provided to Owner.
Contingent Compensation. The Group may accept certain forms of contingent compensation in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. Because insurers account for contingent payments when developing general pricing, the price our clients pay for their policies is not affected whether The Group accepts contingent payments or not. If a Group client prefers that we not accept contingent compensation related to their account, we will request that the client’s insurer(s) exclude that client’s business from their contingent payment calculations. FINMAR – FINEX Placement A separate Business Unit within Xxxxxx Xxxxxx Xxxxxx, FINMAR Market Services, provides a wide range of services direct to certain insurers that place business for FINEX clients globally. A separate fee is paid to FINMAR Market Services by insurers for the delivery of these services to them. This fee is calculated within a range of 3.125% and 5.25% (plus applicable tax) of the overall premiums placed depending on the scale of services provided. Insurers have agreed that they will bear this fee as part of their operating costs and not to increase premiums directly payable by Xxxxxx Xxxxxx Watson’s clients.
Contingent Compensation. Xxxxxxxxx Re may accept certain forms of contingent compensation in relation to insurance, but not treaty reinsurance, placements in locations where they are legally permissible, and meet standards and controls to address conflicts of interest. The terms of placement of your reinsurance should not be affected. Your Responsibilities Proposal Forms For certain classes of reinsurance you may be required to complete a proposal form or similar document. We will provide guidance but we are not able to complete the document for you. Disclosure of Information Our objective is to obtain the best product we can identify in order to meet your reinsurance needs. In order to make our business relationship work, you must provide complete and accurate information and instructions in a timely manner, so that we can assist you fully. Please remember that it is your duty to fully disclose all material facts and circumstances and to provide such information in a clear and complete manner that a diligent reinsurer can understand. This disclosure obligation affects both the extension or modification of your contracts and the conclusion of new reinsurance contracts. You must also answer all reinsurer questions honestly and completely. A factor or circumstance is material if it could influence the judgment of a prudent reinsurer in determining premium and whether or not they would underwrite the risk. Therefore, all information which is material to your coverage requirements or which might influence reinsurers in deciding to accept your business, finalising the terms to apply and/or the cost of cover must be disclosed. Failure to make full disclosure of material facts allows reinsurers to avoid liability for a particular claim or to void the contract. This duty of disclosure applies equally at renewal of your contracts and on taking out new reinsurance contracts. We will not be responsible for any consequences which may arise from any delayed, inaccurate or incomplete information. Please discuss with us if you have any doubts about what is material or have any concerns that we may not have material information, or have any doubt about what the applicable duty of disclosure is. We will work on the assumption that you have full authority to supply us with all such information in the manner and for the purposes contemplated by this Agreement, but you should advise us immediately should that not be the case.
Contingent Compensation. Except in a judicial or quasi-judicial proceeding, an official or employee may not assist or represent a party for contingent compensation in any matter before or involving the County.
