How to read a commission statement

Understanding your commission statement is key to managing your revenue and growing your book of business. First Connect provides a clear, easy-to-navigate commission report found within the ‘My Commission’ section of your portal.

What’s Included in the Commission Statement 

Each monthly commission statement includes a breakdown of the commissions paid to your agency. Here's how to read each column: 

Helpful Tips 

• Commission payments are sent on the 15th of each month. Once we have paid commission on a policy, you will find it in the ‘My Policies section of your portal. 
• Commission payment structures vary by carrier. Generally, there are two kinds: 

• • As Earned: Commission is paid out as the client makes their payments (monthly, biannually, etc). 

• • Upfront (Advanced): Full commission is paid at the start of the policy, even if the client is on a payment plan. 

• Negative amounts on your statement? 

• • These are typically chargebacks or adjustments due to a cancellation or premium reduction. These will be marked with a negative symbol and deducted from your next commission payments until fully recovered. 

• MVR Charges: Some carriers charge a fee of $3–$8 for each Motor Vehicle Report (MVR) pulled during quoting. These fees are: 

• • Not charged by First Connect.

• • May be waived if the carrier’s quote-to-bind minimum conversion rate is met. 
  • Typically delayed 2–3 months before appearing on your commission statement, as carriers allow time for quotes to bind.

• Multiple line items for the same policy? 

• • Carriers often report transactions in parts (endorsements, cancellations, etc). Since we report every line item the carrier provides, you may see more than one entry for a single policy reflecting these adjustments.  

Troubleshooting Commission Issues:  

• Don’t see a policy listed? Check the following: 

• • Direct Pay Carriers: Some carriers pay commissions directly to you. You can check a list of direct-pay carriers here: Which Carriers Offer Direct Payment?  

• • Timing: If it’s been more than 45 days since the policy was bound and you haven’t been paid, let us know we’ll look into it. 

• Didn’t receive payment at all? 

• • Check your account status: We can’t send commission payments until your account is fully compliant. Common issues include needing an updated W9 or E&O. To check your status, go to the My Account section of your FC portal.  
  • Check Your Bank Account On File: Payments are sent via direct deposit. Be sure to check the ‘My Account’ section of your portal to ensure you have the correct bank account information listed.  

If something still doesn’t look right: 

• Email us at commissions@firstconnectinsurance.com or call 877-287-6055. Please include your FC producer code, plus the carrier name, policy number, and bind date.