ABOUT US
How We Are Compensated
At Global Alliance Specialty Solutions (herein known as GASS), we believe transparency is an important part of building strong and trusted relationships with our broker partners. As an insurance intermediary, we work with brokers and insurance markets to help facilitate access to specialized insurance solutions that may not always be available through standard retail channels. In providing these services, GASS may receive compensation in several different forms. Depending on the insurance placement and arrangement with the insurer, our compensation may include commissions, policy fees, contingent compensation and other forms of remuneration or benefits, as described below.
Commission Income
GASS may receive commission from insurers in connection with the insurance business we place, underwrite, distribute or service. Commission is generally calculated as a percentage of the applicable insurance premium and is typically included as part of the premium paid by the policyholder.
Policy Fees
A policy or service fee may be charged for certain insurance placements or services provided by GASS. Where applicable, the fee will be identified in the quotation provided to the broker prior to coverage being bound. Fees may vary depending on the nature and complexity of the placement and the services provided.
Contingent Compensation
GASS may participate in contingent compensation arrangements with certain insurers. These arrangements may provide additional compensation when established criteria are achieved, such as overall portfolio profitability, growth, volume or other agreed performance measures.
Contingent compensation is generally determined based on the performance of a broader portfolio of business rather than an individual policy. As a result, the amount attributable to any single insurance placement may not be separately identifiable.
Other Compensation and Benefits
In addition to commissions, fees, and contingent compensation, GASS may receive other compensation or benefits arising from its insurance activities and relationships with insurers and other business partners. These may include support for marketing, promotional initiatives, education or employee training and development; compensation associated with the administration of premium financing arrangements; interest earned on funds held in accordance with applicable requirements pending remittance; and fees for administrative, underwriting, policy or claims-related services.
Our Commitment to Transparency
Our goal is to earn the confidence of our broker partners by providing responsive service, specialized insurance expertise and access to solutions that meet the needs of their clients.
We recognize that brokers have choices when selecting insurance markets and intermediaries. We are committed to operating transparently and providing information about our compensation so that our broker partners can make informed decisions about the organizations with which they choose to do business.
Questions regarding GASS's compensation, including compensation related to a specific insurance placement, may be directed to our team.
Privacy Notice
This notice explains what we do in relation to collecting, storing, and processing Personal Data. If you believe that we may hold Personal Data and you are the Data Subject you have various rights under relevant legislation including rights of access.
If you have further questions, or wish to make a complaint you should contact us immediately
The Personal Data we hold, the purposes for which we hold it, and what we do with it will be different for different parties. Personal Data may include:
People who visit our website
People who send emails to us
People who complain to us
Policyholders
Claimants
Agents, Producing Brokers, and Insurers
People employed by us
People who contact us about employment
This privacy notice does not extend to other sites accessible via links on this website. Where you access other websites via these links you should read the privacy notices contained on those sites and we can take no responsibility for personal data held or processed by the organization's concerned.
The information below describes the purposes and means by which we process personal data and the scope of use and sharing with other parties. The limitations on scope in relation to sharing with other parties do not apply where we are obliged by law or regulation to a party entitled to receive the personal data.
People who visit our website
We do not collect information about people who visit our website.
People who send emails to us
You should be aware that unless we have established Transport Layer Security (TLS) or other technical means, email traffic between us may be vulnerable to interception.
If an email you sent to us was intended for our sole use and that was made clear to us we will not share it with other parties or provide your contact details.
If an email was sent to us in connection with an insurance policy or claim where we are acting on behalf of you or your client we may share such emails with (re)insurers, or their agents, in connection with the relevant insurance policy or claim.
People who complain to us
Our Terms of Business Agreements set out the process and contact points for dealing with complaints. Where we receive a complaint in relation to our services we will file that information together with other complaint details gathered by us in the course of investigating and resolving the complaint. This information and any Personal Data will not be shared with any other organization.
Where we receive complaints about the services of another party; for example an insurer, we will pass details of the complaint, including any personal data provided to us, to the party responsible for the provision of the services. We will advise you where we do this. We will retain a summary of the details for use in analyzing the overall service experience of our clients and policyholders.
Policyholders
Whilst our activities are primarily concerned with placing insurance covers for commercial policyholders, in the course of quoting and placing insurance policies we may have been provided with personal data; for example details of the owners or directors of the firm.
We will only ever use this information in the course of activities necessary to enter into or fulfill an insurance contract and where required as part of the claims process. We will supply this information to insurers or their agents for these purposes but will otherwise not provide personal data to other parties.
Claimants
In the course of collecting information to provide (re)insurers, or their agents or administrators, with the information needed to enable them to agree to pay a claim, we may be provided with additional personal data where the claim is on behalf of the persons that purchased or are named in the policy.
We may also be provided with personal data, including sensitive or medical data, by third parties alleging that they have suffered an injury or other loss caused by the policyholder.
We will only ever use personal data obtained and processed as part of the claims process for the purpose of recording, communicating with (re)insurers or their agents or administrators, or, with respect to our own administration activities, to resolve the claim.
Agents, Producing Brokers, and (Re)insurers
In the course of our dealings we may be provided with personal data relating to the owners, directors, managers, and other individuals in your organisation including email addresses and telephone numbers.
This information will only be held and processed in connection with efficiently managing our business relationship and in that respect will be shared with those of our employees involved in the business between us.
People employed by us
We need to hold a range of personal data related to employees, provided by employees, and also gathered in the course of employment.
We will have informed you in detail about the personal data we hold or expect to hold, the purposes for which it is processed, and asked you to consent in writing to your personal data being held and processed in this way. We will also have told you about your various rights under the legislation.
People in contact with us about employment
If you, or your agent; e.g. a recruitment firm have been in contact with us in relation to a possible position that did not result in you taking up a position with us, certain personal data will have been shared with you.
If you sent the personal data directly to us we will have acted on the basis that you consented to us holding and processing the data for the purpose of a potential job role. If the personal data was sent to us by an organisation to whom you provided the personal data in relation to employment we will similarly have acted on the basis that you consented to the data being provided.
Our policy is to destroy all such personal data within two months of receipt unless we are at that time actively in discussions about a possible specific employment role.