Commission Disclosure Statement
Information about our compensation structure and how we conduct business.
How We Conduct Business
As your independent insurance broker, we purchase insurance products and services on your behalf that are available, affordable and understandable.
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
Brokerage compensation is part of your insurance premium. Commissions are paid to us on an annual basis for both new business and renewals. We have listed below the insurers that we represent and have included the commission that each provides as a percentage of your overall premium:
PERSONAL LINES – Automobile (may include Recreational Vehicles), Property (may include Farms & Watercraft) and Excess Liability (Umbrella)
|Aviva Insurance Company *||12.5||20||15|
|Chubb Insurance Company *
|Travellers/Dominion of Canada*||12.5||20|
|Halwell Mutual Insurance Company *||12.5||20|
|Intact Insurance *||12.5||20||15|
|Northbridge General Insurance*||12.5||20||20|
|Pafco Insurance Company||12.5||15|
|Pembridge Insurance *||12.5||20|
|Royal & Sun Alliance||12.5||20||15|
|Royal & Sun Alliance Facility||10||N/A|
COMMERCIAL LINES – Automobile, Commercial General Liability, Composite Mercantile Policies and Bonds
|A.M. Fredricks Underwriting||10|
|Allianz Global Risk||15|
|Atlantic Marine Underwriters||15||15|
|Aviva Insurance Company *||12.5||20||20||12.5|
|Boiler Inspection & Insurance||15|
|Chubb Insurance Company *||10||15||20|
|Coast Underwriters Limited||12.5||15||20|
|Encon Ins. Managers Inc.||15||7.5|
|Export Development Corp.||10|
|Frank Cowan Company||12.5||10||15|
|Guarantee Company of N.A. *||20||20||25|
|Intact Insurance *||12.5||20||20|
|Northbridge General Insurance*||10-12.5||20||20||25|
|Pafco Insurance Company||12.5||20||20|
|Royal & Sun Alliance *||12.5||20||20||25|
|Royal & Sun Alliance Facility||10|
|South Western Group||15||15|
|Summit Underwriting Group||15||15|
|Travelers Insurance Company||15||20|
|Wholesale Insurance Group||12.5||12.5|
Contingent Profit Commissions (CPC)
In order for us to maintain strong relationships with quality insurers, we work with each to provide the type of business they desire. The more reputable insurers we represent means the more choices we are able to offer customers.
The insurers with an asterisk noted above recognize our efforts through a Contingent Profit Commission contract. Payment of this CPC may depend on a combination of growth, profitability, volume, retention and increased services that we provide on behalf of an insurer. CPC is not guaranteed. For detailed information on CPC, please go to the individual company’s website. Northbridge Insurance Company owns a minority share interest in Dalton Timmis Insurance for the purpose of succession planning.
Exclusive Contracts with an Insurer
We are an independent insurance brokerage, and as such have access to many insurance companies. It is our responsibility to shop the market and obtain “the best product, the best price and the best service” for consumers.
Should there be an increase in any commission we receive from your insurer or any other material change that affects compensation arrangements, this disclosure statement will be amended accordingly.
If you have any questions regarding this or any other aspect of your insurance please contact us.