Compensation Disclosure and Privacy Statements
SevenHills Cleveland Benefit Partners is a Minnesota based independent insurance agency licensed to sell and service life and health insurance products in multiple States. As independent agents, neither SevenHills Cleveland Benefit Partners nor its agents have employment agreements or exclusive marketing agreements with any health plan or insurance company (carrier). This affords us greater ability to be objective when recommending products to our clients.
SevenHills Cleveland Benefit Partners is compensated by commissions and/or by fees. In general, commission compensation is included in the premium price for the insurance coverage and paid to us by the insurance carrier. Fee based compensation may be either billed separately from premiums or included in the premium. SevenHills Cleveland Benefit Partners is happy to provide information to clients on their specific arrangement.
Premiums for many small group and individual health insurance products are calculated and filed with State agencies with a standard commission included in the filed rate. This means that costs for the services of SevenHills Cleveland Benefit Partners and its agents for these products are included in the premiums. In these situations if a buyer chooses not to use an agency, the premium costs to the insured would be unchanged.
In addition to regular commissions, SevenHills Cleveland Benefit Partners may become eligible for supplemental or contingent compensation. Insurance companies may pay additional compensation if certain volume, growth or retention goals are achieved. These types of retrospective programs vary considerably and are not guaranteed. They also typically are based on the total amount of agency business placed with the carrier, not on an individual policy basis. Because of these programs, SevenHills Cleveland Benefit Partners may be considered to have a financial incentive to place coverage with a particular insurance company.
SevenHills Cleveland Benefit Partners values its professional relationship with our clients and is committed to transparency. We are happy to provide specific information to clients upon request.
Thank you for allowing us to be of service
SevenHills Cleveland Benefit Partners
Protecting your privacy is important to us and to our employees. We want you to understand what information we collect and how we use it. This policy serves as a standard for all our employees for collection, use, retention, and security of nonpublic personal information.
What Information We Collect
We collect “Nonpublic personal information”. This is information about you or employees of yours that is obtained in connection with providing insurance services to you. Personal information is typically obtained when an application for insurance is completed or a request for an insurance quote is made, or from medical information about you or your employees provided by health care professionals. This information may include, but is not limited to:
- Names and address’
- Taxpayer identification numbers or other financial information
- Information concerning health habits and history – for example, smoking status
- Information we receive written on applications and other forms, or offered to us in telephone or email communications
- Information we receive from third parties, such as medical providers, credit bureaus, accountants, lawyers, or other financial professionals
How We Handle Your Information
We do not sell information about current or former clients or their accounts to third parties. We restrict access to your information to those employees who need that information in order to provide services to you. We maintain safeguards that comply with federal standards to guard your nonpublic personal information. SevenHills employees are required to sign privacy statements as a condition of employment.
Non-Affiliated Third Parties
We may disclose your nonpublic personal information that we collect to “non-affiliated third parties” (i.e. third parties that are not part of our company) that assist us in providing our services. Examples of third parties to whom we may disclose nonpublic personal information include the following:
- Insurance companies and their agents, as necessary, to obtain insurance quotes you request and to process insurance transactions you request, or assist in claim resolution for you.
- Healthcare professionals providing services in order to complete the insurance transactions you have requested.
We will also release your private information to non-affiliated third parties if you direct us to do so or if we are compelled by law to do so.
How We Safeguard Your Information
We restrict access to information about you to those of our employees who need to know the information to provide products or services to you. We maintain safeguards that comply with federal standards to guard your nonpublic personal information.
If you cease to Be Our Customer
If you become an inactive customer, we will continue to adhere to the privacy practices described in this notice.
SevenHills Cleveland Benefit Partners reserves the right to amend this statement from time to time as may be necessary due to changing business needs and legal requirements. Also, please note that SevenHills Cleveland Benefit Partners, Inc is not responsible for the content or privacy practices of non-SevenHills Cleveland Benefit Partners web sites to which www.sevenhillscleveland.com may link.