Disclosure Point of Sale Commission Protocol, Contingent Commission, Potential Conflict of Interest
Statement of Services Provided
Our role is to provide you with the best insurance value that combines coverage, service and price. We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support. When any issue arises regarding your insurance coverage, we are your advocate, using our professional experience to best represent your individual interest.
Personal Lines Automobile and Property (not applicable in Ontario, British Columbia, and Alberta)
Our brokerage compensation is part of your insurance premium. You will find below a list of Automobile and Home insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium that appears on your invoice. This commission percentage is paid annually for both new business and renewals. Should there be an increase in the commission schedule we receive from your insurer, or, any other material change that affects compensation arrangements, we will notify you. We may also charge you a fee in addition to the commission paid to us by the Insurer, as agreed before we proceed with the order.
BURNS AND WILCOX 20%
CHUBB DU CANADA 12.5% - 15%
INTACT ASSURANCE 12.5% - 20%
Commercial Lines
The brokerage compensation is part of your insurance premium. You will find below a list of insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium that appears on your invoice. This commission percentage is paid annually for both new business and renewals. Should there be an increase in the commission schedule we receive from your insurer, or, any other material change that affects compensation arrangements, we will notify you. We may also charge you a fee in addition to the commission paid to us by the Insurer, as agreed before we had proceeded with the order.
AXA-XL INSURANCE 20%
AXIS REINSURANCE COMPANY 15%-17.5%
BI & I 15%-20%
CFC UNDERWRITING LTD. 20%
BEAZLEY 15%
CHUBB DU CANADA 15% - 20%
VICTOR 10% - 15%
INTACT ASSURANCE 15%-20%
LLOYDS OF LONDON 15% - 25%
TRAVELERS 15%-20%
XN FINANCIAL SERVICES (CANADA) INC. 17.5%
Contingent (Profit) Commission
Some of the Insurers provide, in addition to the commission compensation, payment of Contingent Commission. This Contingent Commission depends on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on behalf of the Insurer. Contingent Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website.
The insurers providing Contingent Commission to us are the following:
INTACT ASSURANCE
LLOYDS OF LONDON
Information on Ownership and Other Financial Links
We will declare to you, our customers, should we enter or have any other financial links that could be considered a conflict of interest such as:
Any direct or indirect ownership interest by an insurer or financial conglomerate
Any loan, credit facility or other financial relationship direct or indirect
Disclosure when working with Insurance Companies
In order to obtain the best insurance solutions for you we need to disclose to insurers the information you have provided to us. Our disclosure commitments are made in the best interest of consumers. We encourage you to also consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information.