RPS receives various manners of compensation. Mainly, our remuneration for placing and servicing our client's insurance policies is through commissions paid by insurance companies. In addition, RPS sometimes receives compensation as follows:

  • Fees paid by insurance companies or insureds.
  • Interest or investment income earned on insurance premiums.
  • Expense payments from insurance companies and other vendors for (a) educational and professional development programs; (b) managing and administering certain binding and similar facilities, including claims which may arise, and (c) attendance at insurance company meetings and events.
  • Supplemental Commissions (sometimes referred to as "profit sharing," "contingent commissions," or "incentive commissions") which are generally based on profitability, premium volume and/or growth with a carrier.
  • Administrative and Service Fees which may be paid for services we provide to the insurance company as part of the placement process, usually across a book of business placed with a company, including premium billing, collection, remittance and credit control, policy document compilation, and record retention or for consulting and data analytic services.
  • Premium financing fees if RPS is involved in financing a policy.

We believe all of our compensation is fair and reasonable and helps us provided the highest quality and most efficient insurance services available. We always promote the best interests of our insureds. Should any client have questions or desire additional information about remuneration and other income, please contact your local RPS representative.