Bold Penguin is only involved in commissions that are earned from policies bound through sub-appointments. If you have a direct appointment with a carrier, then you will earn commissions on policies bound with that carrier as you normally would.

However, if a policy is canceled (that was bound through a Bold Penguin sub-appointed carrier), then the carrier will ultimately send chargebacks to Bold Penguin that will be passed along to your agency. Typically, a chargeback is deducted from the following month’s commission statement.

If the chargeback exceeds the commission amount, the remaining balance will be deducted from future commissions until it is fully paid back.