Disclosure statement Regarding Broker compensation.
As an Insurance Broker, our job is to find the proper insurance products and services on your behalf that are available and most affordable.
Our goal is to provide you with the best insurance value taking into consideration, the requested and required insurance coverage, service and price. As part of our services we offer personalized service, that includes, professional insurance advice, continual service of your policy insuring it always relevant, and claims support. When any issue arises regarding your insurance coverage, we are your advocates, 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, Personal lines property and commercial insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium.
*Aviva 12.5%, *Intact 7.5% to 12.5%, Jevco 5% to 15%, Perth 5% to 12.5%, *Optimum 12.5%, *Unica 12.5%, Facility 7.5% to 12.5% subject to Maximum $350.
Personal Lines Property
Aviva 20%, Intact 20%, Perth 20%, Premier Marine 15%, Optimum 20%, Unica 20%
Aviva 12.5% to 20%, Intact 7.5% to 20%%, Jevco 5% to 12.5%, Optimum 12.5% to 20%, Unica 12.5% to 20%, Facility 7.5% to 12.5% subject to Maximum $350.
The commission percentage is paid annually for both new business and renewal. 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 of this Contingent (Profit) Commission may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on behalf of the insurer. Contingent (Profit) Commission is not guaranteed. 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 policy. If you have any questions regarding this or any other aspect of your insurance please contact us.
We, at Chambers Insurance Professionals pledge that we always put our client’s best interest’s first and work very hard to earn your trust for all of your Insurance needs.