OSCAR INSURANCE CORPORATION NOTICE OF COMMISSION SCHEDULE
The following Commission Schedule shall apply to New York policies in effect beginning January 1, 2017 and shall remain in effect until terminated or replaced by the Company in writing and within the Company’s sole discretion. The Commission Schedule for each respective market in effect at the time the commission is paid shall govern for the respective market. The Commission Schedule sets forth the amount of commission payments to be made to eligible Subproducers; it does not modify, guarantee, or otherwise amend any aspect of the contractual agreement between the Company and a Subproducer (“Appointed Producer Agreement”). In the event of a conflict between this Commission Schedule and the Appointed Producer Agreement, the Appointed Producer Agreement shall control.
This Commission Schedule is informational in nature and does not confer any rights on a General Agency, Subproducer, or any other party. It does not govern payments of Overrides to General Agencies, if applicable. For purposes of this Commission Schedule, “Initial Term” shall include the months of the first calendar year that the applicable coverage is in effect, up to and including December 31 of the first calendar year. “Renewal Term” shall refer to any months after the “Initial Term” for which the applicable coverage is in effect.
To the extent that a Subproducer earns a commission as set forth in the applicable Appointed Producer Agreement, the commission amount shall be as follows:
New York Per Member Per Month (PMPM):
$8 Per Member Per Month (capped at 4 members per contract)
Example New York Per Member Per Month Calculation:
Subproducer places coverage for an eligible New York three (3) member-family
(subscriber, spouse, and child) effective January 1, 2017 and meets all applicable
contractual obligations to earn commission for such coverage. The coverage
continues through December 31, 2017, and the Subproducer at all times remains
eligible to receive commission payments for such coverage. The Subproducer will
earn $8 dollars per month for the 12 months of 2017 for a total of $288 (3
members * 12 month * $8) in 2017.
The Company’s General Agencies are responsible for distribution of all commissions and required documentation to Subproducers as set forth in the applicable General Agency agreement.