Disclosures & Codes of Conduct
At Toole Peet Insurance, we take the time to understand your business, reducing your total cost of risk and helping you build a better organization. Our dedicated staff members develop long-term relationships with their clients, providing advice, competitive rates, and proactive, customized solutions for their insurance needs. Toole Peet ensures that our customers are treated fairly and we provide the following disclosures and commitment to meet & exceed the expectations in the codes of conduct set out for insurance brokers in the provinces we are licensed to do business in.
With access to 50+ insurers in our practice, we canvas the market for the right combination of insurance features to make sure our clients are getting the best coverage and price possible. Listed below are some of the insurers we represent, including the range of compensation each one provides as a percentage of your overall premium.
When it is in your best interest, we place risk in specialty markets, which typically provide lower compensation rates than contracted insurers. In cases where a fee is charged in lieu of, or in addition to, commission, the breakdown of numbers is always disclosed.
Some insurers under contract recognize our efforts through contingent commission contracts. Payment of these contracts depends on profitability (loss ratio) and/or growth (usually over a number of years) and/or increased services that we provide on behalf of the insurer. When there are large losses, they can disqualify Toole Peet from receiving a contingent profit payment for one or more years. For detailed information about contingent commission, please go to the individual insurance websites.
We have indicated typical broker compensation for some of the insurers we represent below, click the tabs for each insurer to view. For any additional information or inquiries about compensation, insurance brokerage services, and Toole Peets insurance contracts, do not hesitate to contact your account executive.