Don't just survive...thrive!  Secure your profit sharing payment year to year.

Profit Sharing

PIIB is very unique in its profit sharing approach. 90% of the profit sharing, new business bonuses and other overrides are distributed to the affiliates. PIIB’s broker agreement requires 90% of the calculated profit sharing to be distributed by April 15 of the following year. PIIB’s unique pooling method allows for an agency to secure and budget their profit sharing payment year to year.

Understanding the Calculation

Pooled Shares – 70% of the payments received from PIIB Profit Sharing Companies is combined into the Pooled Shares. This pool is distributed to the agencies based on their share of the total premium for all PIIB Profit Sharing Companies combined.  If an agency has 2% of the premium they receive 2% of the pool. This portion of the calculation provides security to an agency, there is no minimum premium threshold or loss ratio factor, your agency will receive a payment every year if you are writing with PIIB’s profit sharing companies.

Loss Ratio Shares –This portion of the calculation is distributed by company.  20% of each Company’s bonus is distributed to agents who have at least $100,000 premium with that company and a loss ratio of less than 46%. The agencies receive an extra bonus for being profitable and hitting the 100k threshold, this can significantly increase an agency’s bonus.

New Business Bonuses – New business bonuses are allocated to the agencies based on their share of the new business with each company with such a bonus. If an agency has 10% of the new business they receive 10% of that company’s new business bonus.  We receive new business bonus’ with many of our companies, contact us for list

sample payments

The best way for you to understand the calculation is to let us calculate exactly what you would have earned had you been affiliated with PIIB last year? Please contact us and we would be happy to help and walk you through the calculation: 

testimonial john wood
John Wood
McGee & Thielen Insurance Brokers, Inc – Sacramento, CA

Our original Co-Op was charging us $40,000 in fees, and taking 25% of the profit sharing off the top. PIIB offered us a $10,000 fee, and only a 10% take of the profit sharing. Now, I only went to State college, but the math seemed pretty straight forward to me. Also, we liked Larry and the PIIB gang far more, so this one really did fall in the “no-brainer” category. We’ve been PIIB members for a few years now, and the decision to move just keeps looking like a better and better one all the time.