CAC Specialty (CAC) is a risk-solutions company leading the insurance brokerage industry with a commitment to serve clients in an innovative and transparent way.  We are authorized by our licenses to confer with clients about the benefits, terms, and conditions, including pricing, of insurance contracts, and to obtain and place insurance.  We may work with insurance carriers, group benefit providers, and other risk-transfer markets (together, “insurers”) or sometimes engage other entities including, without limitation, wholesale brokers, captive managers or premium finance companies (together “intermediaries”).

Subject to any written client services agreement between the parties, CAC may be compensated in a variety of ways for the services it provides.  Unless applicable law or contractual agreement between CAC and insurers states otherwise, compensation may be paid to CAC based on the insurance contracts we sell; or, depending on the insurer and insurance contract the client selects, compensation may be paid by the insurer selling the insurance contract or by another third party. These commissions are regularly calculated as a percentage of the premium paid to the insurer for the specific policy and are paid to CAC by the insurer. In some cases, CAC may receive specific fees from clients in lieu of or, as permitted, in addition to, such commissions, for the placement of coverage and/or for other services and projects.

CAC may also receive other forms of compensation from insurers and/or intermediaries, such as incentive commissions, contingency commissions, supplemental commissions, bonuses, intermediary or co-brokerage commissions, premium financing fees, service fees, administrative fees or allowances, each of which may be based on a variety of factors, including, without limitation, overall volume of premiums with a particular insurer for a specified period, overall growth, persistency and/or retention of premiums with a given insurer for a specified period; and, in some cases, the profitability of the total premium paid to such insurer for insurance policies placed for CAC’s clients during a specified period.

In addition to the fees and commission discussed above, CAC may also receive investment income on fiduciary funds temporarily held by it, such as premiums or return premiums. CAC may also participate in insurance company promotional events or employee trainings and development provided by insurers.

CAC will provide its clients with additional details about forms of compensation earned and compensation expected to be received by CAC based on the sale of insurance to the client, and, if applicable, compensation expected to be received based on any alternative quotes presented to the client upon written request for such information.