Compensation Disclosure
Effective Date: September 1, 2026
Orion Financial Services LLC believes clients should understand how we may be compensated for the insurance products and services we offer.
This disclosure explains the general types of compensation we may receive when helping clients review, quote, place, service, or renew insurance coverage. Compensation rules vary by state, product type, insurer, and transaction. Orion Financial Services LLC operates in Connecticut, with agents servicing New York, South Carolina, and Florida. This notice is general in nature and may not describe every possible compensation arrangement.
How We May Be Compensated
Depending on the insurance product and the state involved, Orion Financial Services LLC may act as an insurance producer, agent, or broker.
We may receive compensation from one or more of the following sources:
Insurance companies
Wholesalers or managing general agencies
Premium finance companies, where permitted
Clients, when a fee is permitted and properly disclosed
Other licensed insurance professionals, where permitted
The type and amount of compensation may vary based on the insurer, policy type, premium, coverage placed, services provided, state law, and any applicable written agreement.
Commission Compensation
Insurance companies may pay us a commission when we place or renew an insurance policy. Commissions are generally calculated as a percentage of the premium and are usually included in the premium charged by the insurance company.
Commission rates vary by insurer, product type, policy term, and state. Commission amounts may also change if the policy is cancelled, endorsed, audited, rewritten, renewed, or adjusted during the policy period.
For policies subject to audit, such as certain workers’ compensation, general liability, or commercial policies, the final premium may change after the insurer completes the audit. If the final premium changes, the commission may also increase or decrease.
Contingent or Performance-Based Compensation
In some cases, insurance companies or intermediaries may pay additional compensation based on factors such as total premium volume, policy retention, growth, profitability, loss experience, or overall business relationship.
This type of compensation is sometimes called contingent compensation, supplemental compensation, or performance-based compensation.
These arrangements vary by insurer and may not apply to every policy. They are not paid directly by the client, but they may create a potential conflict of interest. Orion Financial Services LLC considers client needs, coverage terms, insurer availability, underwriting requirements, pricing, and service when presenting coverage options.
Fees Paid by Clients
In some situations, Orion Financial Services LLC may charge a policy fee, broker fee, service fee, administrative fee, or consulting fee where permitted by law.
Any fee charged directly to a client will be disclosed before the fee is charged. Where required, the fee will be confirmed in a written agreement or written memorandum signed by the party responsible for payment.
Fees may apply for services such as policy placement, policy changes, document processing, special servicing, consulting, record retrieval, certificate requests, premium financing assistance, or other services, depending on the state, product, and transaction.
We do not charge a separate fee for preparing standard insurance quotes unless we disclose that fee in advance and the fee is permitted by applicable law.
State-Specific Fee Rules
Fee rules vary by state. The following summaries are provided for general informational purposes only.
Connecticut
Connecticut law limits when an insurance producer may receive compensation from an insured or prospective insured in addition to commissions included in insurance premiums.
Where a Connecticut service fee is permitted, the fee must comply with Connecticut law and applicable Connecticut Insurance Department regulations. Connecticut also requires a written memorandum signed by the party to be charged that clearly identifies the applicable premium and the amount or extent of the service fee.
New York
New York law has specific requirements for producer, broker, agent, and consultant compensation.
When compensation is charged to a New York insured or prospective insured outside of commissions included in the insurance premium, New York generally requires a written memorandum signed by the party to be charged. The written memorandum must clearly specify or define the amount or extent of the compensation.
New York also requires service fee arrangements to be clear and not misleading. Fees should be separated and identified so the client understands what is being charged, who is receiving the fee, and the purpose of the fee.
South Carolina
South Carolina law addresses commissions, service fees, brokerage compensation, producer licensing, and premium-related service charges.
In South Carolina, compensation related to selling, soliciting, or negotiating insurance must comply with licensing and insurance compensation rules. If Orion Financial Services LLC charges a fee or service charge in South Carolina, the fee will be disclosed and charged only where permitted by applicable law.
If a producer or agency advances premium on behalf of an insured or applicant at the insured’s request, South Carolina law may allow the producer or agency to recover the premium advanced and a permitted service charge on the unpaid balance.
Florida
Florida law includes specific rules for certain compensation arrangements, including written-contract requirements for some health insurance or health benefit plan consulting, review, recommendation, or advisory services.
Where Florida law requires a written contract or written disclosure, Orion Financial Services LLC will disclose the amount or extent of compensation before charging the fee. Fees and compensation will be charged only where permitted by applicable Florida law.
Non-Monetary Compensation
Orion Financial Services LLC or its staff may occasionally receive non-monetary items from insurers, wholesalers, vendors, or business partners. These may include meals, educational events, marketing items, invitations, training opportunities, or similar business courtesies.
These items are not intended to influence coverage recommendations or placement decisions. Coverage options should be evaluated based on client needs, insurer availability, underwriting requirements, coverage terms, pricing, and service.
Premium Financing and Agency-Billed Policies
Some policies may be paid through a premium finance company, installment plan, or agency-billed arrangement.
If a policy is financed, the finance company may charge interest, fees, late charges, or other amounts under the finance agreement. Those charges are separate from the insurance premium and should be reviewed before signing the finance agreement.
If a client pays Orion Financial Services LLC directly for an agency-billed policy, funds may be held temporarily before being remitted to the insurer or other appropriate party. Interest, late fees, returned-payment fees, or service charges may apply only where permitted by law and disclosed as required.
Co-Brokered, Referred, or Wholesale Business
Some insurance placements may involve another licensed producer, broker, wholesaler, managing general agency, or surplus lines broker.
In those situations, compensation may be shared or paid between licensed parties where permitted by law. The use of another licensed professional may be necessary to access certain insurers, specialty markets, surplus lines markets, or products not available directly through Orion Financial Services LLC.
Requesting Compensation Information
Clients may request additional information about compensation related to their policy or quote.
Upon request, Orion Financial Services LLC can provide available information about commissions, fees, or other compensation connected to a specific placement, subject to applicable law, carrier information, and transaction details.
Important Disclosure
This disclosure is provided for general informational purposes only. It does not modify, expand, or change any policy, quote, proposal, invoice, fee agreement, premium finance agreement, or insurer document.
Compensation arrangements vary by insurer, product, state, policy type, premium, underwriting, renewal, endorsement, cancellation, audit, and transaction.
Insurance coverage is subject to underwriting approval, insurer guidelines, policy terms, conditions, exclusions, limitations, and premium payment requirements.
Orion Financial Services LLC does not provide legal, tax, accounting, or investment advice. Clients should consult a qualified professional regarding their specific situation.
Requesting a Compensation Breakdown
You are entitled to request a detailed summary of the commission and/or fees we earn on your policy. Please contact us at any time to receive this information.
If you have questions or need more details about how we are compensated, please feel free to contact us. You may also check our website for updates, as this document provides a general overview and may not cover all specific scenarios.