Exclusive - Commercial broking network Cobra is to introduce tiered benefits for its members

Members placing more than 75% of their commercial book through Cobra's panel of insurers will qualify for platinum status, which means they will receive "bespoke bonus deals and network commission".

Members placing 70% of their commercial book through the panel will qualify for gold status, which equates to "enhanced bonus deals and network commissions", said Cobra.

Membership of the Cobra network requires that brokers place 60% of their commercial book through the network's panel.

The tiering structure will be introduced from 1 January 2005. Those brokers who do not qualify for gold or platinum status will not lose any of their current benefits or facilities.

The Cobra panel comprises of Allianz Cornhill, AXA, NIG, Norwich Union, Royal & SunAlliance, and Cobra's Lloyd's broker GAL.

Cobra chairman Steve Burrows said that half of the network's brokers already qualified for either gold or platinum status.

He said the bespoke bonus deals could come in the form of profit shares, percentage deals, or sponsored marketing.