Use this report to identify customers that qualify for the Broker Compensation Disclosure and collect the data you need to fill out the disclosure form.
IN THIS ARTICLE
What's in the report
To run this report, you must have the following Security Group permissions:
- Policy “Visible”
- Commission “Visible (Full Commission Viewing)” OR “Edit (Full Commission Editing)”
- Report “Visible”
*A unique number assigned to the Group or Individual record that is associated with the Policy record.
**The sum of commissions received for the Policy within the date range you specify.
***The sum of commissions received for the policyholder within the date range you specify.
****If you’re tracking additional commission data in Policy Custom Fields, you can optionally include that data in the report as well.
Interpreting the data
Per CAA guidelines, the federal government requires agents and brokers to disclose the commissions they make to their policyholders.
If you earn $1,000 or more from all of a policyholder's products throughout the year, you will need to fill out and send a disclosure form to the policyholder. This form includes the commission amounts for each of the policyholder’s products.
To identify policyholders that qualify for the disclosure, look at the Total Policyholder Commission Received column in the report output. It will show the total commissions received from the policyholder.
When filling out the disclosure form, you can pull the Coverage Type and Products, Carrier, and Commission Received from the Coverage Type and Product(s) column, the Carrier column, and the Commission Received column. You can also use data from the Projection Table column.
Filtering the data
If you have a lot of data, it could take AgencyBloc a little time to export your Policy and commission data. To narrow your report results and improve the report download speeds, use any of the filters below.
Note: This report calculates the commission amounts based on your filter selections. It will only sum data for Coverage Types or Policy Statuses that you've selected. The sum is narrowed, not just the Policies being shown.
- Bill From Date / Agent Statement Date - Only show the Policies of commissions with a Bill From Date or Agent Statement Date within the date range. We recommend running this report for the past 12 months but you can do it by month.
- Policy Renewal Date - Only show Policies that have a Policy Renewal Date within the date range.
- Carrier - Only show Policies with the specified Carrier.
- Coverage Type - Only show Policies with the specified Coverage Type.
- Policy Status - Only show Policies with the specified Policy Status.
- Policyholder - Only show Policies associated with the specified policyholder.
- Commission Total - Only show the Policies that have a commission total within the specified amount.
- Servicing Agent - Only show Policies that have the specified Agent record as the Servicing Agent.
- Agency of Record - Only show the Policies of Servicing Agents that are associated with the specified Agency record.
- Custom Fields - Include Policy Custom Field data.