Commissions, Fees & Charges

Renumeration For Our Professional Services

At Gallagher we are remunerated by both commission and/or fees. We offer all clients the option of paying solely by fee if so desired. Fees are charged for our professional services to clients and for the provision of advice regarding Insurance and Financial Services. Click on the button below to view our fees and charges.

Remuneration Summary

How we are paid for the professional expertise we provide to you our client.

General Insurance Services: Insurance Intermediary

Financial Services: Insurance Intermediary

We are remunerated for the General Insurance and Financial Services we offer you our client, in a number of ways:

• By commission, fee, and other types of remuneration earned from Insurers and Product Producers to whom orders are transmitted.
• This payment is earned by us for the work we undertake on behalf of the Insurer and/or Product Producer and by you our client as we offer advice and facilitate transactions on your behalf with the Insurers and Product Producers

What is Commission?

• Commission is the payment which may be earned by us for the work we undertake on behalf of the Insurer and/or Product Producer and by you our client as we offer advice and facilitate transactions on your behalf with the Insurers and Product Producers. Commission is usually paid as a percentage of the premium paid or amount invested.

You can find a complete list of our commission rates here.

Other types of payment/remuneration

• We may earn a minor non-monetary benefit which we will only accept if it enhances the quality of our service to you our client. For example: attendance at a product seminar or assistance with branding, IT support etc.
• Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.
• Insurers and Product Producers may offer our Company preferred rates, which in turn offer our clients a more competitively priced product. We do not currently have any such arrangements.
• Profit Share Arrangements: In some cases, we may be a party to a profit-share arrangement with a product producer and may earn an additional payment. Any business arranged with these product producers on our client’s behalf will be placed with the product producer because at the time of placement, they were the most suitable to meet our client’s requirements, taking all the client’s relevant information, demands and needs into account.

General Insurance Products

General insurance products, such as (but not limited to) Personal Lines: Motor, Home, Travel, Commercial Motor, Retail or Liability Insurance and Property Insurance, are typically subject to a Single/Initial Commission, with payment based on the amount of premium charged for the insurance product.

*Clawback

Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

Professional Fees Gallagher

A fee is a payment for professional services and expertise provided by Gallagher. The amount of any fee will be discussed and agreed with you in advance of all transactions. Fees may be set per the schedule undernoted or we offer an hourly rate also outlined below.

Fees may be subject to change should additional factors arise (i.e. level of risk, urgency of transaction). This will always be discussed and agreed in advance of transactions being placed.

Professional Fees are non-refundable in the event that a policy is cancelled.

Schedule of Fees

Commissions