Commission 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 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 Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium that appears on your invoice.

Cornell Insurance Brokers Ltd may from time to time enter into non-standard arrangements which could have compensation terms that fall outside these ranges. We may carry out additional services such as data entry, processing claims payments and conducting site surveys. This additional work is compensated by payment of an agreed fee or commission.

 
 

Auto

Property

Liability

Auto Property Liability Aviva
Insurance Company of Canada

7.5% - 12.5%

20%

15%

Axa Assurances Companies *

7.5% - 12.5%

15% - 20%

15% - 20%

C N A Insurance

12.5%

20%

15% - 20%

Chubb Insurance Company of
Canada *

10% - 12.5%

15% - 20%

15% - 20%

Economical Mutual Insurance
Company * & Perth Insurance

7.5% - 12.5%

20%

20%

Facility Association (R&SA)

6% - 11%

20%

20%

Guarantee Company of
North America

10% - 12.5%

20%

20%

Intact Insurance Company *

7.5% - 12.5%

20%

20%

Jevco Insurance Company *

10%

20%

20%

Lombard Canada

12.5%

20%

20%

Royal & SunAlliance Insurance
Company of Canada *

7.5% - 12.5%

20%

15% - 20%

Wawanesa Insurance

10% - 15%

20%

20%

Zurich

12.5%

20%

15% - 20%

 

In addition to the Insurance Companies we represent under contract, as indicated above, Cornell Insurance Brokers Ltd will place risks with Specialty Markets when it is our client’s best interest. In most cases, these specialty markets provide compensation at a lower rate than the Insurers we represent. In some cases, it may be necessary for us to charge a fee in lieu of, or in addition to the commission payable under the insurance policy. In these cases we will disclose both the fee and any commission payable under the insurance policy.

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 and asterisk (*) recognize our efforts through a Contingent Commission contract. Payment of this Contingent Commission depends on a combination of profitability (loss ratio) and/or growth (usually over a number of years) and/or increased services that we provide on behalf of the Insurer.

In some instances, the occurrence of a few large losses on our book of business can disqualify us from receiving a contingent payment for one or more years. For detailed information on Contingent Commission, please go to the individual company’s website.

If you have any additional questions or require other information regarding any of the compensation received by Cornell Insurance Brokers Ltd for any of its insurance brokerage services, please do not hesitate to contact your account executive.

 

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CONTACT US

Cornell Insurance Brokers Ltd.
275 Renfrew Dr., Suite 200,
Markham, ON L3R 0C8

Free Quote Call
1-888-471-3868

Emergency Claim Service
Call 1-866-431-6355
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