Compensation Disclosure Notice

Bold Penguin Company, LLC’s business practices

Bold Penguin Company, LLC (“Bold Penguin”, “we” or “us”) is a licensed insurance producer and a wholly-owned subsidiary of Bold Penguin, Inc., which is a technology company that offers insurance-adjacent products. Bold Penguin is a wholesale broker that does business with multiple insurance companies, acting as an intermediary between retail agents and insurance companies. The means by which we are compensated are described below:

Bold Penguin takes pride in the services we provide, whether in our capacity as a wholesale broker or as a technology company for insurance related services. For our efforts we are compensated in a variety of ways, primarily in the form of commissions and contingency amounts paid by insurance companies. The means by which we are compensated are described below.

Commission Income

Commission, normally calculated as a percentage of the premium paid to the insurer for the specific policy, is paid to us by the insurer or managing general agent for the distribution of an insurance policy.

Contingency Income

We also receive income through contingency arrangements with some insurance companies. They are called “contingent” because to qualify for payment we normally need to meet certain criteria, usually measured on an annual basis. Contingency arrangements vary, but payment under these agreements is normally the result of growing the company’s business by attracting new customers, helping the insurance company gather and assess underwriting information, and/or working to renew the policies of existing insureds. There is generally no meaningful method to determine the exact impact that any particular insurance policy has on contingency arrangements; however, the amount of earned contingency income depends on the overall size and/or profitability of a group of accounts, as opposed to the placement or profitability of any particular insurance policy. For this reason, the individuals involved in placing insurance policies are rarely, if ever, compensated directly for the contingent income that we receive.

Other Compensation

We may receive other revenue related to our insurance-adjacent technology business, including, but not limited to, fees or a percentage of premium payments from insurance companies for the product distribution services that Bold Penguin, Inc. provides to them.