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Can condo association dictate insurance sales commissions?

| Condo Association Insurance |  


Question:

Regarding Master Condo Insurance Policy...doesn't the board have the right to limit commissions paid to an agent/insurance broker. I asked that commissions be limited to 10% for a renewal where no other carriers are being shopped. I have been told that 15% is the standard or going rate and that is what will be included in our renewal rates. I am wondering if everyone finds this to be true or if we shouldn't look for another representative. We are a self managed board. Thank you.


Answers (11)

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