What does Overriding Commission mean? Read on to discover the definition & meaning of the term Overriding Commission - to help you better understand the language used in insurance policies.
In insurance, a commission paid by an insurer to an agent or managing general agent for premium volume produced by other agents in a given geographic territory. In reinsurance, a commission paid to an intermediary in return for placing a retrocession of reinsurance.
We hope the you have a better understanding of the meaning of Overriding Commission.