This Commissions Guide article relates to Allianz Insurance products
Connective will maintain this guide to the best of its ability but cannot guarantee that the information within is complete, and/or in line with the latest guidance and policies of the lender. If you believe anything is missing or inaccurate, please contact us.
Contents:
Commission Rates
Class of Insurance Business | Upfront paid at inception of new policy | Renewal |
Home Insurance | 10% | 10% |
Landlord Insurance | 10% | 10% |
Prestige Motor Insurance | Not Available from 1/6/2016 | 8% |
Classic Motor Insurance | Not Available from 1/6/2016 | 4% |
Motor insurance | 4% | 4% |
Caravan and Trailer Insurance | 4% | 4% |
Notes and Definitions
For every insurance policy taken out as the result of a client referral, the Connective broker will receive up-front paid at inception of new policy then again on renewal. The commission is calculated on the base premium, which excludes stamp duty, fire services levy, GST and other Government taxes, charges or levies.
Clawbacks
Allianz is entitled to set-off all or any part of any remuneration due (or which becomes due) from Allianz to the broker against any debts owed to Allianz by the broker.
On cancellation of any insurance business referred or arranged by the broker, the broker agrees to repay Allianz the rateable proportion of the Broker’s remuneration for the unexpired period of the relevant contract.