HOW WE ARE COMPENSATED FOR THE SERVICE WE PROVIDE
Brokerage compensation is part of your insurance premium. We have listed the insurance companies that we represent along with the range of compensation as a percentage of your overall premium. We will notify you should there be a change in the commission rate we receive from your insurance company.
Personal Insurance
Property Insurance
15% - 20%
Auto Insurance
7%-15%
Property Insurance
15% - 20%
Auto Insurance
10%
Property Insurance
15% - 20%
Auto Insurance
12.50%
Property Insurance
15% - 20%
Auto Insurance
7%-15%
Property Insurance
15% - 20%
Auto Insurance
7.5%-12.5%
Auto Insurance
7.5%-12.5%
Auto Insurance
7.5%-11%
Property Insurance
15% - 20%
Auto Insurance
7%-15%
Auto Insurance
10%
Property Insurance
15% - 20%
Auto Insurance
10%-12.5%
Property Insurance
20%
Auto Insurance
12.50%
Property Insurance
17.5% - 20%
Auto Insurance
12.50%
*indicates Contingent Profit Commission agreement is in place
In addition to the above list of insurers, The Verge Insurance Group of companies also deals with many Managing General Agencies and Wholesale Brokers which provide access to different insurers through special programs and other agreements.
Insurance companies seek to maintain their profitability and thereby have competitive pricing to retain their current customers and attract new customers. Because of this, many insurers offer contingent profit commissions which are calculated separately from standard commissions to recognize business placed with the insurer that produces a profit. These arrangements are not directly attributable to individual accounts but reflect the pooled experience of all accounts with that insurance company. Contingent profit commission represents between 1-3% of written premium by The Verge Group.
The contingent profit commission is not a guaranteed amount. These amounts can and have been totally eliminated by one claim.
We believe that each and every one of our customers plays an important part in the success of our firm and deserves the highest quality of service, options and advice. We want to assure you that we review each individual account and have chosen your new insurer with your best interests in mind. With this change, we are confident of continuity of similar or better coverage and you can be confident that you are receiving proper recognition of your past experience with Intact Insurance.
It would be a pleasure to answer any questions you may have or assist you with any policy changes. Please contact us at (905) 688-9170 to speak with your dedicated Personal Insurance Specialist Insurance Specialist.
