Define: Overriding Commission

Business, Legal & Accounting Glossary

Definition: Overriding Commission



What is the dictionary definition of Overriding Commission?

Dictionary Definition


A commission paid to an agent or broker on business sold by subagents in his or her territory. This term can also refer to an amount paid to a ceding company in addition to the acquisition cost to compensate for overhead expenses.


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Full Definition of Overriding Commission


In insurance, an overriding commission is 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, it is a commission paid to an intermediary in return for placing a retrocession of reinsurance.


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https://payrollheaven.com/define/overriding-commission/
Modern Language Association (MLA):
Overriding Commission. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. April 09, 2020 https://payrollheaven.com/define/overriding-commission/.
Chicago Manual of Style (CMS):
Overriding Commission. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/overriding-commission/ (accessed: April 09, 2020).
American Psychological Association (APA):
Overriding Commission. PayrollHeaven.com. Retrieved April 09, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/overriding-commission/

Definition Sources


Definitions for Overriding Commission are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 19th January, 2020