Bold Penguin is only involved in commissions that are earned from policies bound through Bold Penguin market access appointments or the Bold Penguin Placement Desk. If you have a direct appointment with a carrier, then you will earn commissions on policies bound with that carrier as you normally would.
Bold Penguin will pay you commissions earned from policies bound through a market access appointment or the Placement Desk via direct deposit.
Carriers remit wholesale commissions to Bold Penguin on a monthly basis. Bold Penguin's Accounts Payables team then sends each agency their commissions via direct deposit to the bank account provided. Commissions are thus processed at the end of the month for the previous month’s activity. For example, any policies bound and effective in January will be paid out at the end of February.
You will receive a commission statement from Bold Penguin for the previous month’s activities via email. Look for this to come from boldpenguin.com@mail.boldpenguin.com.
You can view your wholesale commission statements at any time by navigating to "Insights", then the "Commissions" report in the Terminal via the drop-down menu.
Commission rates for both market access and Placement Desk can be viewed in your Commissions Dashboard.