The Canadian Insurance Services Regulatory Organizations (CISRO) principles document and the Registered Insurance Brokers of Ontario (RIBO) fact sheet are designed to help our clients better understand what they can expect from RIBO license holders.
Both Documents can be found here:
CISRO Principles of Conduct for Insurance Intermediaries
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 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.
For us to maintain strong relationships with quality insurers, we work with each to provide the type of business they desire. The Insurers without 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.