Broker Disclosure Agreement

Thank you for your business. As your Independent Insurance Broker, we purchase insurance products and services on your behalf that are available, affordable, and understandable.

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

Unlike many brokerages, no insurance company controls or owns, in whole or in part,
any aspect of Hubbard Insurance Brokers Inc. We are 100% family owned.

Brokerage 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.

c Aviva Insurance – 7.5 to 20% c Guarantee Co. of N.A. - 12.5%-20%
c Berkeley Canada – 7.5% to 20% c Beazley Insurance – 10% to 15%
c Economical Insurance – 7.5%-20% c RSA Insurance – 7.5%-20%
c Encon Insurance Managers – 10% to 15% c Markel Insurance – 10% to 15%
c Chubb Canada – 10% to 15% c Totten Group – 10% to 15%
c Burns and Wilcox – 10% to 15% c Travelers Insurance – 7.5% to 15%
c Coast Underwriting – 10% to 15% c Intact Insurance – 7.5%-20%

In addition, some of the insurers we place coverages with on your behalf, pay less than standard commissions. In these cases, we may, with prior notice to you, charge a professional brokerage fee that brings the compensation for the work we do more in line with standard commission rates. These will be fully disclosed and itemized to you in advance.

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.

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 with an asterisk noted above 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. Contingent (profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website.

Your Insurer will be providing you with a Consumer Code of Rights and Responsibilities which will be forwarded to you with your new business policy. If you have any questions regarding this or any other aspect of your insurance, please do not hesitate to contact us.