To Our Customers
OUR BROKER COMPENSATION
Thank you for your 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. For your benefit, we have listed below Automobile and Property (both Personal Lines as well as Commercial Lines) insurers that we represent and are including the range of compensation that each insurer provides, as a percentage of your overall policy premium. The commission percentages are paid annually for both new business and renewal business.
COMPANIES | COMMISSIONS |
Allianz | 15% |
Arch | 20% |
Aviva Insurance Company and Subsidiaries* | 7.5% – 27.5% |
Ayr Farmers Mutual | 5% – 20% |
BI & I | 20% |
CAA Insurance | 5% – 20% |
Cherokee | 7% – 10% |
Chubb Insurance* | 10% – 20% |
Coachman Insurance Company* | 5% – 27.5% |
Cumis General Insurance Company* | 7.5% – 18% |
Ecclesiastical | 15% – 20% |
Echelon General Insurance Company* | 5% – 12.5% |
Economical Insurance* | 7.5% – 20% |
Forward/Jet Insurance | 10% – 20% |
Gore Mutual* | 7.5% – 20% |
Heartland Farm Mutual* | 7.5% – 20% |
Intact Insurance Company of Canada and Subsidiaries* | 5% – 27.5% |
Kent & Essex Mutual Insurance Company | 5% – 20% |
Liberty | 12.5% – 20% |
Certain Underwriters at Lloyd’s of London* | 17.5% – 22.5% |
Max Insurance | 7.5% – 20% |
MGA’s (Managing General Agents) | 7.5% – 30% |
Old Republic | 7.5% – 11% |
Portage Insurance | 5% – 20% |
Premier Marine | 10% – 20% |
QBE | 20% |
SGI Canada* | 7.5% – 20% |
The Nordic Insurance Company (Facility) | 10% |
Travelers Insurance Company* | 7.5% – 20% |
Unica Insurance Inc.* | 7.5% – 20% |
Wawanesa Insurance Company* | 7.5% – 20% |
Wynward | 7.5% – 20% |
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.
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, recognize our efforts through a Contingent (Profit) Commission contract. Payment of this Contingent (Profit) Commission depends on a combination of growth, profitability (loss ratio), volume, retention, and increased services that we provide on behalf of the Insurers. Contingent (Profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website.
Our brokerage is not owned in whole or in part, nor subject to any loan agreements by any insurer that we do business with.
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 at your convenience.
Respectfully yours.
Jeff Ives, President
Ives Insurance Brokers Ltd.
