Producer Compensation Disclosures

This page provides you with two Producer Compensation Disclosures. They are:

  • Bearingstar Producer Compensation Disclosure
  • Arbella/Covenant Producer Compensation Disclosure

Bearingstar Producer Compensation Disclosure

This document is intended to disclose how Bearingstar Insurance and your individual salesperson are compensated for selling insurance. We are a licensed insurance agency in the states of Massachusetts, Connecticut, New Hampshire, Rhode Island and Maine, owned and operated by Arbella Insurance Group (“Arbella”). Arbella is comprised of a number of affiliate insurance companies licensed to write business in Connecticut, Massachusetts, New Hampshire and Rhode Island. Arbella writes insurance in Connecticut through Covenant Insurance Company, its wholly owned subsidiary. In the states of Massachusetts, Rhode Island and New Hampshire, other Arbella underwriting companies are used to write business. The underwriting company will be located on the declaration page and policy jacket. Bearingstar also sells insurance through a number of other highly respected companies like Progressive Insurance, New London County Mutual, Safeco and Chubb.

There are a number of ways Bearingstar and its employees are compensated for selling insurance. They are described as follows:

  • Salary. Our employees are paid a salary from Arbella.
  • Base Commission. We usually receive a base commission for the sale and service of new and renewal policies placed with a carrier. The base commission is usually a fixed percentage of the policy premium. The percentage may vary depending on certain factors such as the type or product, risk classification, producer size, state where the risk is located or services provided to the policyholder. Our employees may participate in the other compensation programs described below.
  • Contingent Commission. We and our employees may participate in contingent commission programs offered by the various insurers. Eligibility for, and the amount of, contingent commission depends upon a producer’s ability to meet certain production, growth, profitability or other quality and performance objectives established by the various insurance carriers.
  • Other Payments, Benefits and Compensation. We and our employees may receive other payments, benefits and compensation from the various carriers, which may also depend on the producer meeting production and other performance objectives established by the specific carrier and/or Arbella. These other payments, benefits and compensation may include:
    • Individual Producer Incentive Awards: Our individual producers may receive incentives for placing business with certain carriers. These incentives may be in the form of cash or non-cash awards paid directly to the producer based on the number of policies written or other performance objectives established by the insurance carriers. Since Bearingstar is owned by Arbella, Arbella pays such awards or compensation by evaluating the quantity and quality of the Arbella business sold and then by evaluating the total quantity and quality of business sold from all carriers.
    • Marketing and Other Support: We may receive subsidies for our marketing efforts and other business goals. These payments may include, but are not limited to, items such as continuing education, training expenses, lead generation services, advertising assistance, sales and business meetings or other services that help the producer promote us and our products.

If you have any questions, please contact your producer.

Arbella/Covenant Producer Compensation Disclosure

This document is intended to disclose how Arbella Insurance Group (“Arbella”) compensates its producers for selling insurance in Connecticut. Arbella sells insurance through Bearingstar Insurance, a licensed insurance agency owned and operated by Arbella Insurance Group. Arbella is comprised of a number of affiliate insurance companies licensed to write business in Connecticut, Massachusetts, New Hampshire and Rhode Island. Arbella writes insurance in Connecticut through Covenant Insurance Company, its wholly owned subsidiary. Bearingstar also sells insurance through a number of other highly respected companies like Progressive Insurance, New London Mutual, Safeco and Chubb.

There are a number of ways Bearingstar and its employees are compensated for selling insurance. They are described as follows:

  • Salary. Our employees are paid a salary from Arbella.
  • Base Commission. Producers are generally paid a base commission for the sale and service of new and renewal policies placed with a carrier. The base commission is usually a fixed percentage of the policy premium. The percentage Arbella pays may vary depending on certain factors such as the type or product, risk classification, producer size, state where the risk is located or services provided to the policyholder.
  • Contingent Commission. Producers may participate in contingent commission programs. Eligibility for, and the amount of, contingent commission we pay depends upon a producer’s ability to meet certain production, growth, profitability or other quality and performance objectives established by Arbella.
  • Other Payments, Benefits and Compensation. Certain producers may receive other payments, benefits and compensation which may also depend on the producer meeting production and other performance objectives established by Arbella. These other payments, benefits and compensation may include:
    • Individual Producer Incentive Awards: Our individual producers may receive incentives for placing business with certain carriers. These incentives may be in the form of cash or non-cash awards paid directly to the producer based on the number of policies written or other performance objectives established by the insurance carriers. Since Bearingstar is owned by Arbella, Arbella pays such awards or compensation by evaluating the quantity and quality of the Arbella business sold and then by evaluating the total quantity and quality of business sold from all carriers.
    • Marketing and Other Support: We may receive subsidies for our marketing efforts and other business goals. These payments may include, but are not limited to, items such as continuing education, training expenses, lead generation services, advertising assistance, sales and business meetings or other services that help the producer promote us and our products.

For specific details about compensation relating to your policy, please contact your producer.