Commission

{
  "id": "MLC-T-INS-000838",
  "term": "Commission",
  "field": "Insurance and risk management",
  "definition": "A fee paid to an insurance agent or broker for selling an insurance policy. This compensation is typically a percentage of the premium and serves as an incentive for agents to generate new business and service existing clients. Commission rates vary widely depending on the type of policy, the insurer, and the agent's agreement.",
  "url": "https://mlchart.com/terminology/insurance/commission/"
}