Disclosure
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 Insurers that we represent and have included the range of compensation provided to our brokerage as a percentage of your overall premium that appears on your invoice.
Auto Insurers CAA Insurance Company* 12.5%
Echelon General Insurance Company 12.5%
Hagerty Canada 12.5%
Heartland Farm Mutual Insurance Company* 10% - 12.5%
Intact Insurance Company* 10% - 12.5%
Jevco Insurance Company 10% - 15%
Portage La Prairie Mutual Insurance Company* 10% - 12.5%
Royal and Sun Alliance Insurance Company* 10% - 12.5%
RSA Facility Association (capped at $370 per vehicle) 7.5% - 11%
Property Insurers CAA Insurance Company* 20%
Heartland Farm Mutual Insurance Company* 20%
Intact Insurance Company* 15% - 20%
Pacific Marine Insurance Underwriting Managers 15%
Premier Marine Insurance Managers Group 15%
Portage La Prairie Mutual Insurance Company* 20%
Royal and Sun Alliance Insurance Company* 20%
Totten Insurance Group 12.5% - 15%
Commercial Insurers Heartland Farm Mutual Insurance Company* 20%
Intact Insurance Company* 20%
Portage La Prairie Mutual Insurance Company* 20%
Premier Group 15%
Royal and Sun Alliance Insurance Company* 20%
Signature Risk Partners Inc. 15%
South Western Group 15%
Special Risk Insurance Managers Ltd. 15%
SSQ Financial Group 15%
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. From time to time, we may receive an override on commission from an insurer in the form of a bonus, based on volume growth in a particular year.
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 Commission contract. Payment of this Contingent 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 Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website.
From time to time, our companies may offer sales and incentive programs that we may or may not participate in. This in no way will affect the way we conduct our business and we will continue to place our clients with the proper companies with the proper coverages
C. M. Steele Insurance Brokers Limited also wishes to declare that we do currently have a loan with Portage La Prairie Mutual Insurance Company that was used to expand our business. We do not have any other financial links that could be considered a conflict of interest, such as direct or indirect ownership interest by an insurer or financial conglomerate, any other loan, credit facility or other financial relationship direct or indirect.
Our disclosure commitments are made in the best interest of consumers. We encourage you to also consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information.