an amount payable to a broker or ceding company, in addition to the normal percentage commission, calculated as a percentage of the insurer’s or reinsurer’s net profit on the business after allowing for overheads; also known as profit commission.
The Rantings of the barely human.
an amount payable to a broker or ceding company, in addition to the normal percentage commission, calculated as a percentage of the insurer’s or reinsurer’s net profit on the business after allowing for overheads; also known as profit commission.