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Our Broker Compensation
Thank you for your business. As your Independent Insurance Broker, we purchase products and services on your behalf that are affordable, available and understandable.
Our role is to provide you with the best insurance value in combination with coverage, customer service and price. We provide our valued customers with personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support. When issues arise regarding your insurance coverage, we are your advocate using our professional experience to represent your individual interest.
Brokerage compensation is part of your insurance premium. For your benefit we have listed below Automobile and Property Insurers that we represent including the range of compensation each provides as a percentage of your overall premium.
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Company |
Commission |
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Company |
Commission |
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Aviva |
10%-20% |
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AXA |
10%-20% |
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Boiler & Machinery |
10%-15% |
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Culross Mutual |
10%-20% |
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Echelon |
10%-15% |
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Germania |
10%-20% |
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Gore Mutual |
10%-20% |
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Grey & Bruce Mutual |
10%-25% |
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Guarantee Co. |
10%-25% |
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Halwell Mutual |
10%-25% |
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ING |
10%-20% |
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Jevco |
10%-17.5% |
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Kingsway General |
10%-17.5% |
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Markel |
10%-15% |
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Nordique Facility |
see below |
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Pafco |
10%-15% |
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Pembridge |
10%-20% |
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Premier Marine |
10%-20% |
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AIG |
10%-15% |
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TIC |
10%-30% |
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Trillium Mutual |
10%-20% |
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Wholesale Brokers |
10%-15% |
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Zurich Canada |
10%-15% |
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NW Farmers Mutual |
10%-20% |
- Various specialty markets are utilized as the need arises, commission may range from 10% to 15%.
- Nordique Facility standard auto policies are capped at a maximum of $250 excluding certain commercial classes for which there may be no cap.
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This commission percentage is paid semi-annually or 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 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 business policy. If you have any questions regarding this or any other aspect of your insurance please contact us.
Sincerely,
Larry Grummett Insurance Broker Ltd. |
