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FLOOD07997
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Last modified
1/25/2010 7:13:22 PM
Creation date
10/5/2006 3:22:05 AM
Metadata
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Template:
Floodplain Documents
County
Statewide
Basin
Statewide
Title
Flood Insurance Manual
Date
10/1/1992
Prepared For
US
Prepared By
National Flood Insurance Program
Floodplain - Doc Type
Project
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<br />5. <br /> <br />Producer/Broker commissions <br /> <br />e <br /> <br />The earned commissions paid to property or casualty <br />insurance producers or brokers will be 15% on the first <br />$2.000 of annualized premium and 5% on the excess of <br />$2,000 for BOTH NEW AND RENEWAL POLICIES with policy <br />effective dates of 10/1/92 and later. Calculated <br />commissions for mid-term endorsements and cancellation <br />transactions will be based upon the same commission <br />percentage that was paid at the policy term's <br />inception. <br /> <br />THE FOLLOWING PROGRAM CHANGE IS TO BE IMPLEMENTED FOR NEW <br />POLICIES WITH EFFECTIVE DATES ON OR AFTER JANUARY I, 1993, AND <br />FOR RENEWAL POLICIES WITH EFFECTIVE DATES ON OR AFTER MARCH I, <br />1993: <br /> <br />. <br /> <br />variable Expense Constant bv state <br /> <br />As of January 1, 1993 (new policies) and March 1, 1993 <br />(renewal policies), Texas will be the only state with <br />an expense constant differing from $45. Effective on <br />those dates, the expense constant for Texas will be <br />$50. The purpose of the variable expense constant is <br />to compensate for the sales tax that the state is <br />levying on fees of loss adjusters. Additionally, the <br />expense constant for a scheduled building policy in <br />Texas will be increased to $45 per building for new <br />polices on or after January 1, 1993 and for renewal <br />policies on or after March 1, 1993. The expense <br />constant for a scheduled building policy in all other <br />jurisdictions will remain $40 per building. <br /> <br />e <br /> <br />. <br /> <br />Please replace pages in your Flood Insurance Manual according to <br />the instructions on the accompanying Change Record Page. Should <br />you have any questions or need additional information, please do <br />not hesitate to contact the NFIP. <br /> <br />. <br /> <br />Thank you for your continued support of the National Flood <br />Insurance Program. <br /> <br />e <br /> <br />4 <br />
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