Compensation Disclosure

Morison Insurance’s Compensation Disclosure

As your independent insurance broker, we purchase insurance products and services that are available, affordable, and understandable on your behalf.

Our role is to provide you with the best insurance value that combines coverage, service and price. We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support. When any issue arises regarding your insurance coverage, we are your advocate, 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 and Property Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium.

Company

Automobile

Property

Contingent Profit

Aviva Canada

10% - 12.5%

20%

*

CAA Insurance

10% - 12.5%

20%

*

Coachman Insurance

10% - 12.5%

20%

*

Chieftain Insurance

10% - 12.50%

20%

*

Chubb Insurance

10% - 12.5%

20%

Dufferin Insurance

10% - 12.5%

20%

*

Echelon Insurance

10% - 12.5%

N/A

*

Definity Financial

10% - 12.5%

20%

*

Edge Mutual Insurance

10% - 12.5%

20%

*

Elite Insurance

10% - 12.50%

20%

*

Gore Mutual Insurance

10% - 12.5%

20%

*

Hagerty Canada

10% - 12.50%

N/A

Heartland Farm Mutual

10% - 12.5%

20%

*

Intact Insurance

10% - 12.5%

20%

*

Jevco Insurance

10% - 12.5%

N/A

*

Nordic Insurance (Facility)

9% - 11%

N/A

Northbridge Insurance

10% - 12.5%

20%

*

Pafco Insurance

10% - 12.5%

N/A

*

Peel Mutual Insurance

10% - 12.5%

20%

*

Pembridge Insurance

10% - 12.5%

20%

*

Portage Mutual Insurance

10% - 12.5%

20%

*

SGI Canada Insurance

10% - 12.5%

20%

*

Travelers Insurance

10% - 12.5%

20%

*

Unica Insurance

10% - 12.5%

20%

*

Wawanesa Insurance

10% - 12.5%

20%

*

Other-MGA

N/A

10%-20%

 

This commission percentage is paid 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 the 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. It is based on the average results over a three-year period and is not related to any one particular customer or group of customers. 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 policy. If you have any questions regarding this or any other aspect of your insurance please contact us.

 

Morison Insurance Brokers Inc. 2024

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At Morison Insurance we represent dozens of Canada’s best insurance companies. We will shop to get you the best insurance for your individual needs.
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