Commission Disclosure

Broker Compensation

The insurance industry and provincial regulators have jointly and voluntarily agreed to disclose compensation and financing of insurance brokers in Ontario.  Henry Equestrian Insurance Brokers Ltd. supports this initiative.  We are committed to disclosing compensation to ensure transparency in our service to you.

WHO WE ARE…

Henry Equestrian Insurance Brokers Ltd. is a general insurance broker.  We have insurance products available from numerous insurance companies.  We know that our clients value the combination of choice in insurance products and professional advice.  We are very careful in placing our trust with selected insurance companies.  Products, expertise, financial stability and claims service are critical elements when we recommend an insurance company to you.

WHAT WE DO…

  • We understand your needs and requirements for insurance
  • We understand the broad array of insurance and financial services available
  • We offer you sound, dependable, professional advice
  • We arrange for the purchase of insurance products and services on your behalf that are available, affordable, and understandable in your situation
  • We support and manage insurance products and services throughout their term
  • We offer advice, support and management when a loss occurs
  • We are your insurance advocate

HOW WE ARE COMPENSATED…

Henry Equestrian Insurance Brokers Ltd. is paid a commission for our services to you.  Commissions are paid to Henry Equestrian Insurance Brokers Ltd. by insurance companies for placing personal lines automobile accounts.  Listed below are the personal lines automobile insurers that we represent and a range of annual compensation for new and renewal business we receive.

PERSONAL LINES – AUTOMOBILE

Aviva 10-15% Kingsway 0-10% Pembridge* 7.5-12.5%
Coachman 10-15% MAX Canada Insurance Co. 10-12.5% Perth Insurance 5-12.5%
Echelon 7.5-12.5% Northbridge 7.5% – 12.5% Royal & Sun Alliance 7.5% – 12.5%
Economical* 7.5-12.5% Nordic Insurance, Capped $0-$250.00 South Western Group 0-12.5%
Grey & Bruce Mutual* 7.5-12.5% North Waterloo* 7.5-12.5% Wayfarer Insurance 0-10%
Germania Farmer’s * 7.5-12.5% Peel & MaryBorough* 7.5-12.5% Western General* 7.5-12.5%
Halwell Mutual  7.5-12.5% Peel Mutual Insurance Co. 7.5-12.5% Western Assurance 7.5% – 12.5%
Intact Insurance* 7.5-12.5% Pafco* 7.5-12.5% Unica* 7.5-12.5%
Jevco Motoplan 7.5-12.5% Traders 16-16.5%

PERSONAL LINES – PROPERTY

Aviva 0-20% Elite 17.5-20% Intact Insurance* 20%
Premier Marine 0-20% Bayside 0 – 15% Max Canada Ins. Co. 20%
Royal & Sun Alliance 0-20% Cowan Dalton 0-15% Northbridge 0-20%
South Western Group 0-15% Coachman 0-20% North Waterloo * 21%
Western General* 20% Economical* 15-20% Peel & MaryBorough 20%
Unica* 20% Grey & Bruce Mutual* 20% Peel Mutual 20%
Wayfarer Insurance 0-10% Germania Farmer’s* 17.5-20% Pembridge* 20%
Western Assurance 0-20% Halwell Mutual 15-20% Perth Insurance 15%
Traders 16-16.5%

COMMERCIAL LINES COMPANIES – AUTOMOBILE, PROPERTY & CASUALTY

A.M. Fredericks 0-15% Frank Cowan 0-20% Old Republic 0-10%
Atlantic Marine U/W 0-15% Germania Farmer’s * 7.5-20% Peel & Maryborough* 7.5-20%
Aviva* 7.5-20% Great American Insurance 0-15% Peel Mutual Insurance Co 7.5-20%
Axa 7.5-20% Grey & Bruce Mutual* 7.5-20% Premier Marine 0-15%
Boiler Inspection 10-20% Groupassur 10-15% Risk Can 10-15%
Central Underwriters 0-12.5% Halwell Mutual 7.5-20% Royal & Sun Alliance 7.5% – 20%
Chutter 0-12.5% Intact Insurance* 7.5-20% RS National 0-12.5%
Citadel 10-15% Jevco 0-17.5% South Western Group 0-15%
Coachman 0-20% Kingsway General 0-17.5% Western Assurance 7.5% – 20%
Cowan Dalton 0-10% Lloyds of London* 0-22.5%  Western General* 7.5-20%
Economical Mutual* 0-20% Northbridge 20% Wholesale Group 0-15%
Equine Underwriters 0-15% Markel Insurance 0-15% Unica* 7.5-20%
Elliott Special Risks 0-12.5% Nordic Insurance 0-12.5% Zurich* 5-20%
Encon 0-15% North Waterloo* 7.5-20% Misc 0-20%

Henry Equestrian Insurance Brokers Ltd. maintains strong relationships with quality insurers to best serve our clients.  The insurers with an asterisk (*) recognize our efforts with profit sharing.  Payments of profit sharing are based on profitability, loss ratio, growth, volume, retention and services provided on the portfolio as a whole.  Profit sharing is not applicable on an individual account.  Profit sharing is not guaranteed – it is contingent on the performance of the entire portfolio over a period of time.  Details of insurer profit sharing arrangements are available from the individual insurer’s websites.

Henry Equestrian Insurance Brokers Ltd. may accept other forms of compensation from insurers from time to time.  Other forms of compensation include attendance at educational events, meetings and seminars.  These incentives are not related to the placement of insurance on individual accounts.

Henry Equestrian Insurance Brokers Ltd. is a privately owned corporation.  There is no direct or indirect ownership with any insurance company.  We currently have loans guaranteed by Aviva Insurance and North Waterloo Farmers Mutual that were used for succession of retiring shareholders and to expand or business.

CODE OF CONSUMER RIGHTS AND RESPONSIBILITIES…

Your insurance company has adopted a Code of Consumer Rights and Responsibilities, which will be included with your insurance policy.  Please take a few moments to consider the Code.  We know that you have choice when you buy insurance.  Thank you for choosing Henry Equestrian Insurance Brokers Ltd.  If you have questions regarding this subject or other matters, please contact any of us at Henry Equestrian Insurance Brokers Ltd.

Click here to download our Commission Disclosure in PDF format.