Commission Disclosure
Brokerage compensation is part of your insurance premium. Below you will find the insurers we represent along with the compensation each provides to New World Insurance. The list of insurers offer personal and/or commercial insurance through New World Insurance. These commissions are paid annually for new business and renewals. If there is an increase in the commission schedule or any other material change that affects compensation arrangements, we will notify you.
| Insurance Company | Auto | Property | Commercial Auto | Commercial | Other |
|---|---|---|---|---|---|
| A.J. Gallagher Canada Limited | 12.5 to 17.5% | ||||
| A.M. Fredericks Underwriting Management | 15% | ||||
| AIG Insurance Company of Canada | 20% | ||||
| April Canada | 15% | ||||
| ARAG Legal Solutions Inc. | 18% | ||||
| Arch Insurance (Canada) | 15% | ||||
| Aviva Insurance Company of Canada* | 20% | 10 to 22.5% | |||
| Beazley Canada Limited | 15% | ||||
| Boiler Inspection & Insurance Company | 20% | ||||
| BrokerLink - Lloyd's Team | 17.5 to 22.5% | ||||
| Burns & Wilcox Canada | 15% | ||||
| Can-Sure Underwriting | 15% | 15% | |||
| CHES Special Risks Inc. | 13% | ||||
| Chieftain Insurance | 13% | 20% | |||
| Chubb Insurance Company of Canada | 10 to 12.5% | 15 to 20% | |||
| Chutter Underwriting Services | 15% | ||||
| CJB Insurance Services | 12.5 to 15% | ||||
| Core Underwriting Services Inc. | 12.5 to 15% | ||||
| Desjardins Insurance | 8% | ||||
| Economical Insurance* | 10 to 12.5% | 20% | 20% | 20% | |
| Excess Underwriting Corporation | 15% | ||||
| GameDay Insurance | 15% | ||||
| Gore Muture* | 10 to 12.5% | 20% | 20% | 22.5% | |
| Hagerty Canada, LLC | 13% | 20% | |||
| Intact Group Insurance* | 10 to 12.5% | 15 to 20% | 20% | ||
| Intact Insurance* | 10 to 12.5% | 15 to 20% | 20% | 17.5 to 20% | |
| Jevco Insurance Company | 5% | ||||
| Manulife Financial | 3 to 5% | ||||
| Markel Canada Limited | 15 to 20% | ||||
| Mitsui Sumitomo Insurance Co. Ltd. | 10% | 15 to 20% | 20% | ||
| Northbridge General Insurance Corp. | 13% | 15 to 20% | 20% | ||
| Oceanic Underwriters Ltd. | 15% | ||||
| Pafco Insurance Company | 10 to 12.5% | 20% | |||
| PAL Insurance Brokers Ltd | 20% | ||||
| Pembridge Insurance Company* | 10 to 12.5% | 15 to 20% | |||
| Perth Insurance | 10 to 12.5% | 15% | |||
| Premier Canada Assurance Managers Ltd. | 12.5 to 15% | 15% | |||
| Reinsurance Management Association Inc. | 15% | ||||
| RISKCAN Underwriting Managers | 20% | ||||
| South Western Insurance | 10% | 20% | 10 to 15% | ||
| Special Risk Insurance Managers Ltd. | 15% | ||||
| Specialty Advantage Insurance | 15% | ||||
| SUM Strategic Underwriting Managers Inc. | 15% | ||||
| Sutton Special Risk | 15% | ||||
| Travelers Canada* | 10 to 12.5% | 20% | 20% | 20% | 20% |
| Canada Life Insurance | 5 to 8% | ||||
| The Nordic Insurance Company of Canada | Fixed $370 to $740 | ||||
| The Wawanesa Mutual Insurance Company | 13% | 20% | 20% | ||
| TIC Agencies Ltd (Allianz Global) | 10 to 40% | ||||
| Tokio Marine & Nichido Fire Insurance Co | 15% | ||||
| Totten Insurance Group Inc. | 15% | ||||
| Travelers Canada | 13% | 20% | 15 to 20% | ||
| Unica Insurance Inc. | 11% | 18% | |||
| Victor Insurance Managers Inc. | 10 to 15% | ||||
| XL Specialty Insurance Company - (AXA) | 20% |
When it is in the best interest of the customer, we will arrange coverage through specialist intermediaries not listed above. These suppliers also pay us a commission, usually at a rate that is lower than the insurers listed. In some cases, coverage may be arranged at no commission. In these situations, we may charge a fee in lieu of, or in addition to, the normal commission payable. It is our intention to disclose our total compensation.
Contingent (Profit) Commission is payable to New World Insurance by some insurers only when specific growth, profitability, volume, retention and other measures have been met. Payment is not determined on individual policies. Insurers marked with an asterisk (*) recognize our efforts through a Contingent (Profit) Commission contract. For more detailed information on Contingent (Profit) Commissions, please visit the website of the individual insurance company. From time to time the brokerage may participate in insurer sales incentive programs.
New World Insurance Services (Ontario) Limited is a BrokerLink company. The BrokerLink companies are subsidiaries of Intact Financial Corporation and are affiliated with Intact Insurance Company and Jevco Insurance Company. Intact Financial Corporation, through affiliates, has provided interest-bearing financing at market rates to New World Insurance.
Our disclosures are made in the best interest of our customers. For further details about the financial commitments made between insurance companies and insurance brokers, we encourage you to consult their respective websites.