Baird Crop Insurance Compensation Disclosure Statement
Baird Crop Insurance does business with multiple competing insurance companies giving us the opportunity to offer a variety of coverage choices and to customize a plan that can satisfy the specialized needs of our clients. For the services we provide, Baird Crop Insurance receives commissions or fees and occasionally fees in addition to commissions, from the insurance carriers providing the coverage. This commission is normally a percentage of the policy premium you pay us and is usually set by the insuring company, not by us. We charge nothing for the placement of your insurance policies because we are compensated for this service in the commission and/or fees previously described. However, we may charge fees for other professional services that we are asked to provide. Baird Crop Insurance also receives investment income on fiduciary funds temporarily held in our accounts, such as premiums or return premiums.
In addition to such fees and commissions, Baird Crop Insurance normally qualifies for various forms of incentive compensation, including contingent commissions and other awards and bonuses from many of the carriers or other businesses that we represent. Incentive compensation can be based upon a variety of factors that may include the level of premium written, retention, growth, overall profitability or other performance measures established by the insurers or businesses that we work with. It is usually impossible to know at the time of placement whether the policy being written will contribute to or detract from our potential eligibility for future additional compensation from the insurer.
If you have questions regarding the compensation received by Baird Crop Insurance, or our affiliates in relation to your insurance placement, please contact your Baird Crop Insurance Agency representative. You are a valued customer and our agency takes pride in the services that we provide to you.