LEGAL Notice

Tropolis Legal Notice

Last modified 07.23.24

360 RMI Insurance Solutions (CA Lic#: 0I89046)
Fishman Insurance Agency (CA Lic#: 0D73896)
Modi Financial and Insurance Services (CA Lic#: 6013299)

Products and Services

The products and services identified and described on this website may not be available in all jurisdictions. The descriptions contained on this website (a) are not intended to be complete or exhaustive of all applicable terms, conditions, and exclusions of the policies described, (b) are not intended to be complete or exhaustive of all applicable terms and conditions the services described, and (c) are provided solely for general informational purposes. The information, descriptions and statements contained on this website do not amend, modify or supplement any insurance policy, product or service described. Always refer to the actual insurance policy for the full and complete terms, conditions, exclusions, and other coverage details of the policies described, and refer to the actual terms and conditions applicable to each of the products or services described. Eligibility for the insurance policies identified or described on this website is subject to the determination of underwriting qualifications and acceptance by the insurance company offering or providing such policies. No representations are made with respect to whether coverage exists for any particular claim or loss, or type of claim or loss, under any policy. Whether there is coverage for any claim or loss under any particular policy depends on the facts and circumstances relevant to such claim or loss, as well as the terms, conditions, exclusions, and other coverage details of the applicable policy. To the extent there is a conflict or discrepancy between any information contained on this website and the terms, conditions, exclusions, or coverage details of any policy, the applicable policy shall control and govern in all cases.

The information and descriptions with respect to products and services contained on this website should not be viewed as a substitute for any legal or other professional advice on any particular issue, for any particular reason, or on any particular subject matter. The advice of a professional should always be obtained before purchasing any insurance product or service, and the information provided on this website should not be relied upon for the prevention or mitigation of risks or as a full and complete explanation of coverage under any insurance policy or as a full and complete explanation of terms and conditions of any services offered. While the information contained on this website has been compiled from sources reasonably believed to be reliable, no warranty, guarantee, or representation, either expressed or implied, is made as to the correctness or sufficiency of any representation contained on this website.

U.S. Producer Compensation Disclosure

 

Commissions and Fees

We receive commissions which are usually a percentage of the insurance premium charged by an insurer for our services. We may also receive fees in lieu of or in addition to the commissions. The compensation paid to individuals who place and service insurance coverage varies based on the commissions we receive.

Contingent Commissions

From time to time, we enter into contingent commissions arrangements with insurers. These arrangements set forth criteria we must satisfy to receive additional compensation from insurers. Contingent commissions are typically measured annually and may be based on factors such as the growth of business, retention of existing insurance policies, and attaining certain loss or claims results. The amount of contingent commissions may also be based on the size and profitability of a group of accounts rather than an individual insurance policy. Therefore, the individuals who place and service insurance do not usually receive compensation directly for the contingent income received by us. You may request information about the nature and source of the contingent compensation we expect to receive.

Supplemental Commissions

Recently, some insurers have replaced contingent commissions with supplemental commissions. Supplemental commissions are usually a fixed amount that is determined at the beginning of the year based on historical performance. The amount of supplemental commission is based on past performance measured by criteria comparable to the criteria used to calculate contingent commissions.

Fiduciary Funds

We may temporarily hold insurance premiums or return premiums in a fiduciary account and receive investment income on such funds.

Wholesale Operations

We own wholesale insurance brokerages which are intermediaries between other brokers (usually retail brokers) and insurance companies. Retail brokers have direct relationships with their clients and place coverage through the wholesale broker with the insurer. If a Tropolis retail broker places policies through a Tropolis-owned wholesale broker, both the retail broker and the wholesale broker will receive commissions. This does not generally impact a client’s premium payments. Regardless of whether a wholesale broker is owned by us or not, a wholesale broker may be included in a transaction because it offers products that are not available through normal retail brokerage channels.

Data Analytics

We strive to provide suitable coverage at a competitive price for our customers through data analytics. We gather and analyze data pertaining to our clients and their insurance coverage to develop tools that help us get a better understanding of the current marketplace, predict future trends and offer solutions that are most suitable to our clients’ needs.