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Canal Insurance Company, its subsidiaries, and affiliates (“Canal”) is a leading provider of commercial and specialty transportation insurance products, which are sold through a trusted network of General Agents. These General Agents are not Canal employees but are typically compensated for their services in representing Canal and distributing its products. General Agents are appointed by Canal, and often represent several other insurance companies as well.
Canal compensates its General Agents with a base commission for placing new and renewal business with the company. This commission is generally a fixed percentage of the premium a policyholder pays and may vary according to factors such as the type of risk, type of business, and state where the policyholder is located. Canal may also, from time to time, pay a contingent commission which may be based on various factors, including, but not limited to profitability, volume, growth, and retention. Should you have any questions relating to Canal’s General Agent compensation practices, please contact the Canal Legal Department at 864-250-9230.
