Broker Compensation – Personal Lines

To Our Valued Customers:

Thank you for your business.  As your independent Insurance Broker we are required to inform our customers of our business arrangements with the various insurance companies that we offer to our customers.  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, on-going policy maintenance and claim 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.  For your benefit, we have listed below insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium:

Personal Automobile:

  • AXA Canada* – 10% to 12.5%
  • Dominion of Canada* – 10% to 12.5%
  • Gore Mutual* – 10% to 12.5%
  • Intact Insurance* – 10% to 12.5%
  • Unica Insurance* – 10% to 12.5%
  • Jevco Insurance – 5% to 12.5%
  • Echelon Insurance – 10% to 12.5%
  • Facility Association** (Nordic) – 10% to 12.5%

** Commission capped at $250.00

Personal Property:

  • AXA Canada* – 20%
  • Dominion of Canada* – 20%
  • Gore Mutual* – 20%
  • Intact Insurance* – 20%
  • Unica Insurance* – 20%
  • Premier Marine – 15%

The 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 changes that affects compensation arrangements, we will notify you.

In order to maintain strong relationships with quality insurers, we work with each to provide the type of business they desire.  The insurers with an asterisk noted above recognize our efforts through Contingent (profit) Commission contract.  Payment of 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.

We currently have a loan to one of the Brokerage’s shareholders from Gore Mutual Insurance Company, which was used for succession.

Please do not hesitate to contact us if you have questions or require further information.

Yours Truly,

Matt Durocher, Hons. B.A., R.I.B.(Ont)

Owner, President