OUR PRACTICE

Molton, Allen & Williams, LLC
Statement of Policy Concerning Compensation and Disclosure

Our principal sources of revenue are commissions paid by insurance companies for placing coverages and fees paid by our clients.  Certain of our carriers have programs that also pay us an annual bonus over-and-above standard commissions.  The payment of these annual bonuses is contingent on several factors, which vary from carrier to carrier, including growth, volume and/or profitability, among other things.

Other sources of our revenue include interest or investment income earned on insurance premiums, compensation from premium finance companies, expense allowances or reimbursements from insurance companies, and compensation from insurance companies for performing certain functions.  Examples of expense allowances and reimbursements include funds for education and professional development, while compensation for performing certain functions includes compensation for claims administration.

We want our clients to have confidence in how we represent them in the insurance marketplace.  Moreover, openness and honesty in all business relationships are core values to which we subscribe.  It is MAW’s policy to recommend the coverages that it believes to be best for its clients without giving consideration to its own compensation.  Upon request, MAW will provide its clients with detailed information about the compensation it receives from placing their coverages and/or servicing their accounts.

“Client” does not include a person who is merely a participant or beneficiary of an employee benefit plan or covered by a group or blanket insurance policy or group annuity contract sold, solicited or negotiated by MAW.

This Statement does not apply if MAW is acting only as an intermediary between an insurer and the client’s producer, for example as a managing general agent, a sales manager, wholesale broker or a reinsurance intermediary. 

MAW will not be able to disclose commission or contingent income paid to managing general agents, wholesale brokers or reinsurance intermediaries that MAW may use to place certain coverages.