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Disclosure

BROKER COMPENSATION
 
As your Independent Insurance Broker, our role is to help you obtain the best possible insurance product(s) to suit your individual needs. We consider many factors in the recommendations we make to you with respect to placement of insurance coverage, including various payment and coverage options, service, price, stability and flexibility offered by the insurance companies we have access to. We strive to provide personalized, quality service that includes offering you solid insurance education so that you are empowered to make well-informed choices. Using our good relationships built with your insurance company and our solid understanding of your insurance as a foundation, we advocate on your behalf when insurance issues arise and you need us to represent your interests.
 
Brokerages are paid a percentage of your insurance premium by the insurance company (commission) for everything involved with facilitating the placement and servicing of insurance policies. For your benefit, we have listed below the insurance companies we access on your behalf, including the range of compensation each provides as a percentage of your premium.
 

INSURANCE COMPANY AUTO INSURANCE COMMISSION RANGE NON-AUTO INSURANCE COMMISSION RANGE
AIG* N/A 15%
Chieftain Insurance Company 10% – 12.5% 20%
CHUBB Insurance Company* 10% 15% - 20%
Coachman Insurance 10% – 12.5% 20%
Economical Mutual Insurance Company 7.5% – 12.5% 15% -20%
Echelon Insurance Company 7.5% - 12.5% 15% -20%
Edge Mutual Insurance Company 10% - 12.5% 20%
Gore Mutual 7.5% – 12.5% 15% -20%
Nova Mutual Insurance Company 10% - 12.5% 20%
Perth Insurance Company * 5.0% – 12.5% 20%
Royal & Sun Alliance 7.5% – 12.5% 15% -20%
Royal & Sun Alliance Facility Assoc. * 6.0% –11%, capped at $370 N/A
SGI Canada 10% – 12.5% 20%
Travelers Canada 7.5% – 12.5% 15% -20%
UNICA Insurance Company Inc. 10% - 12.5% 15% -20%
Western Assurance 10% – 12.5% 20%

 

  • Some of the companies that we deal with are able to provide bonds and commission rates for bonds are 25-30%
  • Commission percentage is paid based on the total premium (including any changes during the policy term) for both new and renewal business based on the term of the policy.
  • Fees charged by insurance companies (above and beyond premiums) are not commissionable.

 
If there is a change in any of the above captioned we will notify you.
 
The insurance companies noted above recognize our efforts when we meet mutual business objectives through a Contingent (Profit) Commission contract (with the exception of those companies marked with an asterix), payment of which is not guaranteed. Our ability to earn Contingent (Profit) Commission is dependent on one or more of the following factors: growth, profitability (loss ratio), volume, retention and increased services that we provide or perform for the insurer or the insured.  For detailed information on Contingent Commission, please go to the individual insurance company website. Your insurance company provides you with a Consumer Code of Rights and Responsibilities with all new insurance contracts. This document is also available at their individual websites.
 
It is important that each of our clients understand and trust that our advice to you (recommendations of coverage and choice of insurer) is always based on what is best for you. We make profit (hopefully) and grow by satisfying our clients’ need to have excellent service, industry and product education, and by providing value. Our clients want competitive pricing, but for the right coverage – tailored for your needs. All of which, we hope, will foster trust, satisfaction, a long-term business relationship and hopefully referrals of family, friends and colleagues.
 
Note: The brokerage has an indirect financial obligation to RSA (guarantor) for monies loaned to the brokerage for an acquisition. The brokerage also has a direct financial obligation to UNICA for monies loaned to the brokerage for an acquisition
 
If you have any questions or concerns regarding any of the above captioned, we welcome you to call. We are always
happy to assist you and thank you for your business.