Broker Disclosure

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Our role is to provide you with the best insurance value that combines coverage, service and price. We also provide personalized 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 interests.

As a brokerage, we are compensated in a variety of ways including commission and contingency amounts paid by insurance companies and, in some cases, fees paid by clients or other third parties. A breakdown of the different compensation methods can be found below.

Commission Income: Compensation from commission is part of your insurance premium and is paid to the brokerage by the insurance company. We have separate commission agreements with each insurance company we represent and the amount we are paid varies by business line.  See below for a list of the insurance companies NFP partners with and the range of compensation we receive.

Contingency Income: For NFP Canada to maintain strong relationships with our insurance companies, we work with each of them to provide the type of business they deem desirable. The insurance companies indicated with an asterisk on the list below recognize our efforts through a Contingent Profit Commission contract. Payment may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on their behalf. It is called “contingent commission” because it is not guaranteed income to the brokerage. Given the complex criteria involved there is no way to determine the exact impact that any individual insurance policy could have on contingency commissions and individual employees involved in placing or servicing your insurance are not compensated directly for any contingent income received. For further information on Contingent Profit Commissions, you may go to the various insurance company websites. The insurance companies also post the Code of Consumer Rights and Responsibilities on their websites.

Fees paid by clients: For complex business insurance programs a fee may be negotiated for the placement of insurance coverage and additional services or products. These fees are presented up front in a proposal and approved in advance of binding coverage. On occasion, we may receive both commissions and client-paid fees for placing insurance, which would be disclosed in writing. For example, we may receive commission payments as part of a client’s insurance premium and may receive a client-paid fee for additional services such as third-party administration of employee benefits or risk management.

Proudly independent: NFP Canada Corp. does not have any exclusive arrangements or loans which require us to place a specified portion of our business with one insurance company. Our independence allows us to always work in the best interests of our clients.

Affiliations: NFP Canada Corp. is affiliated with NFP Captive Management (Alberta) Corp., NFP Canada Corp. o/a HEP MGA, Group Force Benefits Inc., and Northern Premium Financing Corp. through common ownership. Northern Premium Financing Corp. is a premium payment options available to some NFP Canada Corp. clients.

If you have any questions regarding our brokerage compensation or any other aspect of your insurance program, please do not hesitate to contact us at compliance@nfp.ca.

INSURANCE COMPANIES AND COMPENSATION PERCENTAGES

Commissions are broken down by major lines of business (minor lines are included within the broader categories). Commissions are paid annually for both new policies and for 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.

* Insurance companies with whom we have contingent profit commission or other bonus arrangements

Insurance Company Personal Property Personal Automobile Commercial Automobile Commercial Property/Other
AIG Canada 10-20%
Allianz 15%
Allied World Specialty 15%
Arag 20%
Arch Insurance 5-20%
Atradius 15-17.5%
AXIS Re 10-20%
*Aviva Insurance Company 15-20% 10-12.5% 7.5-12.5% 10-25%
Berkley Canada 10-25%
Berkshire Hathaway Specialty Insurance 10-25%
*CAA Insurance Company 20% 12.5-15.0% 15-20%
*Chubb Insurance Company 15-20% 10% 12.5% 10-20%
Chieftain Insurance 20% 12.50%
Chieftain Insurance 20% 12.50%
*CNA Insurance 12.5% 10-20%
Coface North America 15%
Ecclesiastical Insurance 15-20%
*Echelon Insurance 12.5-15% 10-12.5% 15-20%
*Definity Financial (Economical) 17.5-20% 10-12.5% 12.5% 15-20%
*Edge Mutual 20% 12.5% 8-12.5% 20%
Euler Hermes Canada 15-17.5%
Everest Insurance Company 15-25%
FM Mutual 15%
*Germania Mutual 20% 12.5% 15%
*Gore Mutual 20% 12.5% 15%
Great American 20%
*Halwell Mutual 20% 10-12.5% 12.5% 20%
*Howick Mutual 20% 12.5% 12.5% 20%
HSB Canada 15-20%
*Intact Financial Corporation 20% 10-12.5% 10-12.5% 15-32%
Jevco Insurance 8-15%
Liberty International Canada 12.5% 10-20%
*Lloyd’s 22.5-27% 22.5-25%
Markel Corporation 15-20%
Munich Re 20%
National Liability & Fire Insurance 10-15%
*Northbridge Insurance Company 20% 10-12.5% 7.5-12.5% 7.5-30%
Old Republic Insurance 10% 10%
Optimum Group 12.5% 20%
*Pafco Insurance Company 20% 10-12.5%
*Peace Hills 20% 10-12.5% 7.5-12.5% 10-20%
*Pembridge Insurance 20% 10-12.5%
PURE Group 10%
QBE Insurance Group 17.5%
*SGI Canada/Coachman 20% 10-12.5% 7.5-12.5% 10-20%
SSQ 15%
Starr International Group 12.5% 15%
The Nordic Insurance Co. (Facility Association) 7.5-11% 6-10%
*The Sovereign General 12.5% 15-20%
*Travelers Insurance Canada 20% 12.5-15% 12.5% 15-30%
*The Wawanesa Mutual 20% 12.5% 12.5% 20%
*Trisura Guarantee 15-20%
*Unica Insurance 15-20% 12.5% 12.5% 15-20%
United States Fire Insurance 8-10% 15%
United States Liability (USLI) 12.5-17.5%
W.R. Berkley Corporation 15-20%
Western Surety 27.5%
*Wynward Insurance Group 20%
*Zurich Insurance Company 10-12.5% 12.5-30%
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