As your independent Insurance Broker, we at Pacific Insurance Broker Inc. strive to provide you insurance products and service that are suitable, affordable, and adequate. Our number one priority has always been to provide top-notch service to our valued customers. This includes personalized service, professional risk management advice, and policy value. Thus, it has been our focus to present to our clients products that are tailored to their needs. In combining value, quality service and customer support we have been able to build and maintain strong relationships with our clientele.
In consideration of our commitment to service excellence, we at Pacific Insurance Broker inc. are constantly looking for new ways to improve and satisfy our customers. Therefore we are taking on the initiative to inform our clients on the subject matter of broker compensation.
For your information we have listed below Insurers that we represent and have included the range of annual compensation each provides as a percentage of your overall premium.
|Boiler Inspection & Insurance (BI&I)||N/A||N/A||15%-20%|
|Facility||Flat Service Fee||N/A||10% Service fee (Commercial Auto)|
|Lloyd's of London**||N/A||22.5%||20%-25%|
|Other Substandard Companies||N/A||10%-15%||10%-15%|
*Denotes companies that may pay a Contingent (Profit) Commission based on a combinations of factors such as growth, profitability, volume, retention, and increased service. Payment of these commissions are based on entire portfolios of business and not guaranteed.
**Denotes figure that includes the above as well as in-house operating expenses. In such instances Pacific Insurance Broker Inc. is acting as the agent of Underwriters or Companies.
Insurance carriers may occasionally hold special promotions and contests to promote new products or services. Pacific Insurance Broker Inc. may opt to participate or receive promotional benefits from these carriers from time to time. These prizes do not effect the placement of business with carriers. If participation in these promotions may be interpreted as having an impact on where business is placed, Pacific Insurance Broker Inc. will disclose them to you as our client’s best interest is our number one priority.
Should there be any future changes to the compensation arrangement we have with our business partners, we will notify you. Please contact (416)494-1268 Ext:426 if you have any questions regarding this or other insurance related matters.