Traction Insurance Agency, a division of Homefield Equity (“Traction”) is committed to being the leading insurance agent for car enthusiasts by delivering on our unique client experience and enthusiast expertise. Integrity is a core virtue of our business. As part of living up to that virtue, Traction is providing disclosure regarding our sources of income, received from insurance companies or third parties, to existing and perspective clients.
Traction receives compensation in several ways, including but may not be limited to: (1) commissions paid to us by an insurer, which is generally calculated as a percentage of premiums. These commissions or fees received are for the placement and/or renewal of a client’s insurance policies and related services, (2) incentives or contingency payments, bonuses or supplemental commissions from insurance companies, intermediaries or other third parties. Contingency payments or bonuses may be based on the overall performance of business placed with an insurance company, which may vary depending on the line of business and a number of factors related to current or future performance, including but not limited to overall premium volume, premium growth, profitability and/or retention. Contingency payments received by Shift Brokers is generally not trackable back to any particular client or policy.
Traction may also receive payments, financial assistance or service fees from companies, including insurers for consulting, events, marketing or other promotional considerations and/or administration services specific to a carrier. These payments, financial assistance or service fees are not tied to or dependent on any particular client or policy.
Traction may also receive interest or investment income payments on any funds held, even if temporarily. These funds may relate to services, fees, premiums, returns or promotional funds. Please contact us or your representative if you have specific questions regarding Shift Brokers operations.