Compensation DisclosureOur 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. 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.
Insurer |
Automobile |
Property |
Chubb Insurance |
N/A |
10% to 15% |
Economical Mutual* |
10% to 12.5% |
20% to 25% |
Intact* (ING) |
10% to 12.5% |
20% |
Facility** (Nordic) |
10% |
N/A |
Perth |
5% to 12.5% |
20% |
Premier Marine |
N/A |
15% |
**commission is capped at $250.00 for personal auto
*contingent profit commission contract (CPC) in effect
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.
In order for us 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 a Contingent Profit Commission contract. Payment, if any, under this contract is primarily dependant on the profitability (loss ratio) of our entire book of business. Other factors such as volume, growth, retention and services we provide to the insurer may also affect the potential payment. For detailed information on Contingent Commission, please go to the individual company’s website.
Your Insurer will be providing you with a Consumer Code of Rights and Responsibilities which will be forwarded to you with your new business policy. If you have any questions regarding this or any other aspect of your insurance please contact us.
Guthrie Bickerstaff Limited
January 2009
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