FULMONT MUTUAL INSURANCE COMPANY
PO BOX 487
TO: ALL AGENTS
FROM: MARLENE A. BENTON, PRESIDENT
DATE: APRIL 22, 2014
SUBJECT: REVISED AGENTS' COMMISSION SCHEDULE
EFFECTIVE 06/01/2014
The Board of Directors of Fulmont Mutual Insurance Company at a recent Board meeting voted to decrease the commission rate payable to agents for Homeowners policies. This decision was reached after an in-depth study of the profit/loss margin of the Company for the ten-year period of 2004-2013.
This change will become effective on June 1, 2014, based on the effective or subsequent anniversary date of the policy. An application dated 06/01/2014 or later will be paid at the new rate. For all other policies dated with an effective date prior to 06/01/2014, commissions will be paid at the rate in effect on the policy's effective or anniversary date. For example, a policy with an original effective date of 06/15/2013 will be paid at the new commission rate on the anniversary date of 06/15/2014.
Attached please find the revised Commission Schedule. Please insert this updated page into your Agents' Manual.
Please return the extra copy of this letter signed where indicated, as your acknowledgment of receipt of this letter. If you should have any questions, please contact our office. We trust you understand our position in this matter.
Sincerely,
Marlene A. Benton
President
enclosures - 2
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