Introduction

Orca Ventures, LLC and its subsidiary, Orca Ventures Insurance Services, LLC, operating under the brand ContractorNerd, take pride in providing insurance-related services to our clients and partners. By accessing our site or using our services, you agree to and are subject to our Terms, Privacy Policy, and these Disclosures.

Compensation

ContractorNerd is compensated for providing insurance services to its clients. Such services may include securing, facilitating, and servicing insurance policies, or providing advice or other services as agreed upon (the “Insurance Services”). ContractorNerd believes you should understand how we are paid. Below is a summary of the types of compensation ContractorNerd may receive, and based on the Insurance Services, one or more of these compensation arrangements may apply.

Commissions

ContractorNerd receives usual and customary commissions or fees for the distribution and servicing of insurance policies. Commission amounts are typically calculated as a percentage of the premium paid to the insurer for a policy, although it may vary depending on several factors, including the type of insurance sold and the specific insurer.

Broker Fees

ContractorNerd charges a Broker Fee for the use of our technology platform to obtain insurance quotes and services. This fee compensates ContractorNerd for the technology investment and operational costs associated with providing our digital insurance platform, enabling clients to efficiently compare quotes, manage policies, and access specialized contractor insurance resources. Broker Fees are disclosed to clients prior to binding coverage and may vary based on policy type, coverage limits, and complexity of insurance needs.

Contingent Commissions

ContractorNerd may also receive income through contingent commissions received from insurers for having achieved certain criteria, typically measured on an annual basis. The criteria vary, but are usually the result of attracting new customers, retaining existing customers, achieving certain loss or claim results, or assisting the insurer with the underwriting process. Because the amount of contingent commission earned may vary, there is generally no meaningful method to determine the exact impact that any particular insurance policy has on contingency arrangements.

Supplemental Commissions

Certain insurance companies pay supplemental commissions — fixed amounts — that are based on ContractorNerd’s performance during the prior year. These commissions are established annually, and the criteria for supplemental commissions are similar to those for contingent commissions. Unlike contingent commissions, the amount of supplemental commission is known at the time of insurance placement.

Client Fees

ContractorNerd may, on occasion, negotiate a fee for services in lieu of, or in addition to, commissions paid by insurance companies. These fees may include, but are not limited to, subscribing, policy handling, and consulting fees. These fees will be approved, usually in writing, prior to binding coverage. ContractorNerd may also be engaged to provide consultation to clients under specific agreements for services for which a fee will be paid.

Other Benefits or Compensation

In addition to such commissions or fees for services, ContractorNerd may receive investment income on fiduciary funds temporarily held by it, such as premiums or return premiums.

From time to time, ContractorNerd may be compensated by insurers for providing administrative services to clients on behalf of those insurers. Such amounts are typically calculated as a percentage of premium or are based on the number of insureds. Insurers may also compensate ContractorNerd for providing underwriting, marketing, or other support. ContractorNerd may also participate in insurance company promotional events, training, or development that insurers provide to ContractorNerd employees.

Miscellaneous Fees

ContractorNerd may charge permitted servicing fees for various billing options. ContractorNerd may also receive direct or indirect compensation from parties related to other aspects of its operations or services.

Please feel free to ask ContractorNerd about our compensation generally or your specific proposal or placement.

Updating Terms

ContractorNerd reserves the right to change these Disclosures from time to time and in its sole discretion. The last time these Disclosures were revised is set forth below. Your continued use of ContractorNerd’s website indicates your acceptance of all revisions.

Revision date: April 21, 2025