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ARTICLE · 29 AUGUST 2025

Template Binder Update: Profit Commission Clauses

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We regularly review binders in place between insurers' and coverholders' risk, whether as part of a comprehensive review on exposures, up or down the distribution chain, or for advice in relation to specific concerns or queries on individual issues.

United KingdomFinance and Banking
Thomas Gibby
Thomas Gibby
Tim Johnson
Tim Johnson

We regularly review binders in place between insurers' and coverholders' risk, whether as part of a comprehensive review on exposures, up or down the distribution chain, or for advice in relation to specific concerns or queries on individual issues. Many binders we see use the Lloyd's market templates and most get left untouched (other than for the commercials across the schedule).

One of the areas we find that is most often disputed relates to profit commission. These are very useful ways of sharing profits and risks of an insurance portfolio between risk carrier and coverholder, better aligning their respective interests with a view to cementing a more stable and profitable partnership.

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