Lott & Gaylor, Inc. derives compensation from your premium payments in the form of commission for the assistance with placement, servicing, claims handling and renewal of your insurance coverage’s. Additionally, it is possible that we may receive contingent payments or allowances from insurers based on factors which are not client specific, such as the performance and or size of an overall book of business that is produced with an insurer. We generally do not know if such a contingent payment will be made by a particular insurer, or the amount of any such contingent payments, until the underwriting year is closed. That compensation is partially derived from your premium dollars, after being combined (or “pooled”) with the premium dollars of other insured’s that have purchased similar types of coverage.

We may also receive invitations to programs sponsored and paid for by insurance carriers to inform brokers or agents regarding their products and services, including possible participation in company sponsored events such as trips, seminars, and advisory council meetings, based on the total volume of business placed with the carrier you’ve selected. We may on occasion, receive loans or credit from insurance companies. Additionally, in the ordinary course of our business, we may receive and retain interest on premiums you pay from the date we receive them until the date those premiums are remitted to the insurance company or intermediary. In the event that we assist with placement and other details of arranging for the financing of your insurance premium, we may also receive a fee from the insurance company.

Should you have any further questions or concerns regarding Lott & Gaylor’s financial compensation please contact us.