If you don't know how much your wholesaler stands to make from each option they present you can't trust them to be impartial.
Many wholesalers never reveal the total commission offered by a carrier, let alone give you a clear indication of what they keep versus sharing with you. In doing so the wholesaler skews the power dynamic away from you in their favor, ultimately compromising their ability to recommend the right coverage in exchange for pushing the options that pay them the best.
We show you the gross commission and the commission split between you and us for every quote we procure for you and your insured. Below are some examples with the carrier’s name removed. Official submissions will always come with the carrier’s name intact.
Medical Facilities
Gross: 20%
Retailer: 12%
Ethos: 8%
Medical Facilities
Gross: 18%
Retailer: 10.5%
Ethos: 7.5%
Medical Facilities
Gross: 17.5%
Retailer: 10%
Ethos: 7.5%
Nonstandard Physicians
Gross: 16%
Retailer: 10%
Ethos: 6%
Nonstandard Physicians
Gross: 15%
Retailer: 9%
Ethos: 6%
Nonstandard Physicians
Gross: 14%
Retailer: 8%
Ethos: 6%
Many wholesalers like to pad their wallets with excessive fees. A better solution? Charging an appropriate fee only when your wholesaler provides you with a service, such as taking care of the surplus line filing. Superfluous wholesaler fees have a negative impact on your and your clients. Avoiding these kinds of fees is an easy way to stabilize your client relationships and your book of business.
Here are a few of the most commonly asked questions that we get about pricing and commissions.
Just like you, a big part of our business comes down to managing our relationship with carriers. Whatever their reason, some of our carrier partners have asked us not to list our current commission agreements on our website.
We believe that your needs come first, so while we do not list carriers' names next to their commission schedule on the site we welcome you to contact us directly if there is a carrier you have a question about. Further, we will always provide you with commission information for each carrier in your marketing report.
Ethos works with all the key carriers specialized in the healthcare liability marketplace. However, there are always other carriers that may have an appetite for healthcare accounts but struggle to compete with more specialized carriers. When new carriers enter the healthcare liability arena, we are careful to vet them out and add them if they are likely to provide a benefit for our customers.
If there is a particular carrier missing from our list that you have questions about we would like to encourage you to contact us so that we can discuss if the carrier is missing in error, or otherwise discuss the circumstances for their omission.
While we're working on a self-service tool to help you select the best application for your particular opportunity, we invite you to contact us directly and an Ethos team member will happily help you find the correct application.
Every submission should include an application and no fewer than 5 years of loss/claims history (aka: loss runs). There are many specialized applications or supplemental applications that address the particular details of certain classes of business. Additional info may also be necessary to complete a submission: CVs (Curriculum Vitae); financials; copies of contracts and licenses, to name a few.
The entire process is designed around giving you everything you need on a timetable that’s optimized for your specific needs.
If you book during business hours we can usually get back to you within an hour. If you schedule outside of business hours we will be able to reach out to you the business day.
However much time you need. We’ve had clients get everything they need in 5 minutes, others want a full hour. On average, an initial phone call usually lasts around 15 to 30 minutes.
You will hear from us within one business day of your submission with the details of the team assigned to you. Within two business days of your submission, your team will then contact you with an initial marketing report.
As we continue to receive quotes from additional carriers, you will receive up-to-date reports of marketing efforts, including a proposal matrix and coverage highlights. Once marketing efforts are complete, you will receive a final marketing summary with insights from your team.
That's entirely up to you... Literally!
When meeting with your team we will inquire as to any specific target dates that you have. From there we will operate on your timeline.
Start with selecting the best professional liability wholesaler for your medical and healthcare professional liability needs. By the end of day you’ll have a 15-minute meeting time reserved where you will learn definitively how to best serve your insureds.