Commissions & Conflict Disclosure
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, price and quality insurers. We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claim's support. When any issue arises regarding your insurance coverage, we are your advocate, using our professional experience to best represent your individual interest.
ThinkInsure is wholly owned by Questrade Financial Group and declare the following :
- No direct or indirect ownership interests by an insurance company or brokerage
- No lending capital arrangements with an insurance company
- No financial or non-financial network affiliation influence
- To provide all insurance options available to you and disclose any “absence” of choice
- To disclose any situation where a conflict of interest or influence can arise from an insurance company
Brokerage compensation is part of your insurance premium. For your benefit we have listed below Automobile and Property Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium.
| Insurer | Personal | Commercial |
|---|---|---|
| Aviva Insurance* | 7.5-20% | 15-20% |
| CAA Insurance* | 12.5-20% | NA |
| Chubb Insurance* | 10-20% | 15-20% |
| Coachman Insurance | 5-12.5% | N/A |
| Echelon Insurance* | 5-12.5% | 15-20% |
| Economical Insurance (Perth)* | 7.5-25% | 15-20% |
| Gore Mutual Insurance* | 12.5-25% | 15-20% |
| Intact Insurance* | 10-20% | 15-20% |
| Jevco Insurance* | 5-12.5% | 15-20% |
| Max Insurance | 20% | N/A |
| Nordic Insurance (Facility)** | 6-11% | 15-20% |
| Pembridge Insurance (Pafco)* | 10-20% | 15-20% |
| SGI Canada* | 10–20% | 15-20% |
| Travelers Insurance (Chieftain)* | 7.5-25% | 15-20% |
| Unica Insurance* | 12.5-20% | 15-20% |
| Wawanesa Insurance* | 7.5-20% | 15-20% |
| Managing General Agent* | 10-15% | 10-15% |
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Commission percentage is paid annually or semi-annually for both new business and renewals. ** Commission cap may apply. |
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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 a strong relationship with quality insurers, we work with each to provide the type of business they desire. The Insurers listed with an asterisk 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), and volume. Contingent (Profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company website.
Similar to the possibility that brokers may receive Contingent (Profit) Commission, brokers may receive additional sales incentives and/or ‘bonus’ commissions from insurance companies such as gifts, contest entries and prizes.
Your Insurer provides you with a Consumer Code of Rights and Responsibility which is 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.
ThinkInsure Ltd. 5700 Younge Street, Suite G1 Toronto, Ontario M2M 4K2
Toll Free : 1.888.415.8802 Phone : 905.415.8800 Fax : 905.415.8875
ThinkInsure is a member of the Questrade Group of Companies. Questrade Group of Companies means Questrade Financial Group and its affiliates that provide insurance and other products or services.
