CBC is committed to driving value, acting in our client’s best interest, and providing transparent compensation disclosure. Every CBC Colleague takes personal responsibility for this pledge to uphold the highest standards of integrity in our business.
- CBC commits to defining and achieving our client’s goals and objectives. Our custom solutions for risk management and administration are designed with our client’s needs and interests first.
- At the initial implementation and each renewal thereafter CBC will outline the service it is providing and how we are compensated for that service.
- CBC receives compensation for placement of insurance contracts through commission of various insurance companies providing coverage. Specific commission arrangements are disclosed in this proposal by each line of coverage and are reported annually to our clients through Schedule A’s used for 5500 filings for companies over 200 lives.
- CBC may or may not receive additional contingent compensation in the form of overrides from certain companies. This contingent compensation may be based on overall volume with carrier, growth and profitability of book, or compensation for carrier administration.
- CBC clients have a toll free number, dedicated email, and annual survey opportunities to provide feedback on the quality of service they are receiving. CBC is committed to take action on the feedback and provide resolution to any emergent issue. In addition we will provide strategies for improvement with future planning.
- Adherence to these principals will be enforced by a series of best practices and internal controls. These controls include personal accountability through scorecards, scheduled compliance review, and audit committee review.
