Thank you for selecting Trigon Insurance Brokers Ltd. as your brokerage of choice.
Broker Code of Conduct & Regulations
The Canadian Insurance Services Regulatory Organization (CISRO) Principles of Conduct for Insurance Intermediaries (the Principles) set out common regulator expectations for insurance intermediaries in Canada. The Principles outline professional behaviour and conduct expectations for the fair treatment of customers and explains to customers what they can expect when they purchase an insurance product.
The following documents are designed to help customers understand their broker’s obligations to them and to promote trust between both parties.
CISRO Principles of Conduct for Intermediaries – Download PDF
RIBO About Your Insurance Broker Fact Sheet – Download PDF
Broker 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 each provides as a percentage of your overall premium. This is inclusive of both personal lines and commercial lines business placed on your behalf through our office.
|Aviva Canada||12.5%||12.5% – 20%|
|Commonwell Mutual Insurance||12.5%||12.5% – 20%|
|Economical Insurance||10% – 12.5%||12.5% – 20%|
|Gore Mutual Insurance||10% – 12.5%||12.5% – 20%|
|Intact Insurance||10% – 12.5%||12.5% – 20%|
|Managing General Agents (MGAs)||–||12.5% – 20%|
|Nordic Facility Insurance*||7.5% – 11%||–|
|Optimum Insurance||10% – 12.5%||12.5% – 20%|
|Pembridge Insurance||10% – 12.5%||20%|
|Royal Sun Alliance||7.5% – 12.5%||12.5% – 20%|
|Travelers Canada||7.5% – 12.5%||12.5% – 20%|
|Unica Insurance||7.5% – 12.5%||12.5% – 20%|
|Wawanesa Mutual Insurance||7.5% – 12.5%||12.5% – 20%|
*Commission may be capped.
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.
Statement on Contingent (Profit) Commission 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 noted above may recognize our efforts through a Contingent (Profit) Commission contract. Payment of this Contingent (Profit) Commission may depend on a combination of growth, profitability (Loss Ratio), volume, retention and increased services that we provide on behalf of the Insurer. It is based on our entire portfolio of business with that Insurer and not on individual policies. Contingent (Profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website.
Policy Fees For certain types of policies or for unique risks where there is limited or no commission based on the scope of work, a policy fee may be applied. The policy fee may vary depending on the type of policy and/or the overall policy premium. The policy fee will, at all times, be disclosed, separately over and above the total policy premium, to the client both verbally and in writing prior to the insurer binding coverage.
Your Insurer will be providing you with a Consumer Code of Rights and Responsibilities which will be forwarded to you with your new policy. If you have any questions regarding this or any other aspect of your insurance, please contact us.