News analysis: Brokers can choose their commissions (to a point)

peter-knowles-mma

This year, brokers have been given the opportunity to choose their commissions by two insurers.

With Groupama and MMA providing some intriguing options for brokers, some are choosing as little as 0% to win business. The idea behind it is for a broker to be able to reach an agreeable price with customers and to charge a fee if they want, giving brokers more choice.

Malcolm Smith, commercial lines director at Groupama, said: "All classes of commercial have been available on our extranet since April, although some networks have asked us not to use it. It is not available on software houses

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

Review of the Year 2024: Markerstudy’s Gary Humphreys

Gary Humphreys, group chief underwriting officer at Markerstudy, hails the completion of the Atlanta deal, dreams of having the MGA’s brand adorn the Tottenham Hotspur Stadium and mulls sitting on the sofa and doing Channel 4’s Gogglebox.

Lycetts buys broker Cheviot

Lycetts has strengthened its presence in the North East, purchasing fellow Newcastle-based broker Cheviot Insurance Services.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: