Disclosure Statement

Commission Disclosure | Broker Compensation

Thank you for choosing Begin Insurance. As your trusted insurance broker, our role is to aid you in your purchase of the right insurance products and services, most suited to your needs based on coverage, value and price. We also provide you with tailored and personalized professional services that include insurance advice, ongoing policy maintenance, claims support and client advocacy.

Brokerage compensation is part of your annual insurance premium, and we are paid a percentage commission of this premium directly by your Insurance Company.  This commission is paid for new and renewing policies, and is based on a percentage range (based on the product purchased) as outlined below, alongside the list of the Property and Casualty Insurers that we represent:

Company Personal Auto Personal Property Commercial Auto Commercial Property
Aviva/Scottish & York* 7.5% to 12.5% 20% to 22% 7.5% to 12.5% 20%
CAA* 10% to 12.5% 20% N/A N/A
Chieftain 10% to 12.5% 20% N/A N/A
Coachman 5% to 12.5% N/A N/A N/A
Echelon 5% to 12.5% N/A 5% to 12.5% N/A
Economical* 5% to 12.5% 20% 5% to 12.5% 20%
Gore Mutual 10% to 12.5% 20% 10% to 12.5% 20%
Intact* 10% to 12.5% 20% 10% to 12.5% 20%
Jevco* 5% to 12.5% N/A N/A N/A
Nordic 10% to Max $300 N/A N/A N/A
Pafco 5% to 12.5% N/A N/A N/A
Pembridge* 10% to 12.5% 20% N/A N/A
RSA* 10% to 12.5% 20% 10% to 12.5% 15% to 20%
SGI* 10% to 12.5% 20% 10% to 12.5% 15% to 20%
Travelers Canada* 10% to 12.5% 20% 10% to 12.5% 15% to 20%
Unica* 10% to 12.5% 20% 10% to 12.5% 15% to 20%

 

Begin Insurance Inc. is independent and privately owned. There is no direct or indirect ownership interest by any Insurance Company or financial institution, nor any loan or financial guarantee. As such there are no conflicts of interest in our relationship with you, and any overall recommendations to you are based on our understanding and assessment of your needs, and the suitability of available coverage.

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 depends on a combination of growth, profitability, volume, retention and increased services that we provide on behalf of the insurer, and is NOT guaranteed. It is based on our entire portfolio of business with that insurer, reviewed on an annual basis, and not on individual policies.  For detailed information on Contingent Commission, please visit your Insurance Company's website.

From time to time our insurers may offer sales contests to our Sales Advisors. Also on occasion insurance companies may also invite us to an invitation only sales convention. Again, this does not impact the advice and recommendations that we provide, as they are based on our understanding and assessment of your needs, and the suitability of available coverage.

Should there be any increase in the commission schedule we receive from your insurer, or any other material change that impacts our compensation agreements, we will notify you. Should there be any change in our ownership or financing from which any potential conflicts of interest may arise, we will notify you.

Your Insurer will be providing you with a Customer Code of Rights and responsibilities, which will be forwarded to you with your new business policy. If you have and questions regarding this or any other aspect of your insurance please contact us.

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