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Broker Affiliation & Compensation

To Our Customers

Thank you for your business. Canadian Insurance Alliance (2018) Inc. O/A HUB SmartCoverage, would like to make you aware of who we are and how we are compensated.

HUB SmartCoverage is a privately-owned insurance brokerage without financial affiliation to any individual insurance company.

HUB SmartCoverage receives compensation in two ways: commission income and contingency income.

Commission income - Commission, normally calculated as a percentage of the premium paid to the insurer for a specific policy, is paid to us by the insurer for the distribution and servicing of your insurance policy. Our commission is included in the premium paid by you. The individuals at HUB International who place and service your insurance may be paid compensation that varies directly with the commissions we receive. This base commission will vary from 9% to 20% depending on the product line and insurer.

Contingency income - We also receive income through contingency arrangements with most insurers. They are called “contingent” because to qualify for payment we normally need to meet certain criteria, usually measured on an annual basis. Contingency arrangements vary, but payment is normally the result of growing the business by attracting new customers, helping the insurance company gather and assess underwriting information, achieving certain loss or claims results and/or working to renew the policies of existing insureds. There is generally no meaningful method to determine the exact impact that any particular insurance policy has on contingency arrangements; however, brokers tend to receive higher contingency payments when they grow their business and retain clients through better service. In other words, the amount of earned contingency income depends on the overall size and/or profitability of a group of accounts, as opposed to the placement or profitability of any particular insurance policy. For this reason, the individuals involved in placing or servicing insurance are rarely compensated directly for the contingent income that we receive. The methodology for calculating the payment will vary by insurer, but generally the contingent commission, if paid, will range from 0.25% to 2.2% of the premium that HUB SmartCoverage produces for that insurer.

Please note:

Supplemental Commissions - Some insurance companies have recently replaced contingent commissions with supplemental commissions. These commissions, in fixed amounts, are established annually in advance based on historical performance measured by criteria comparable to those by which contingent commissions are calculated. We refer to these commissions as guaranteed supplemental commissions, or "GSCs".

HUB SmartCoverage represents the following insurers**:
Aviva Insurance Company of Canada *10.0% - 13.5%20%
Economical Insurance *10.0% - 12.5%20%
Gore Mutual Insurance Company *10.0% - 12.5%20%
Intact Insurance *10.0% - 12.5%20%
Max Insurance *N/A20%
Nordic Insurance Company7.5% - 11%N/A
Northbridge Insurance *10.0% - 12.5%20%
Pafco Insurance Company *10.0% - 12.5%N/A
Pembridge Insurance Company *10.0% - 12.5%20%
Travelers Insurance Company of Canada *10.0% - 12.5%20%
The Wawanesa Mutual Insurance Company *10.0% - 12.5%20%

* This company offers incentives under Contingent (Profit) Commission or Growth contracts.
Commissions are paid annually and apply to new and renewed policies. Should there be any commission increase or other material change in compensation from your insurance carrier, you will be duly notified.
** Brand and product availability vary by Province.

Your insurer will be providing you with a Consumer Code of Rights and Responsibilities that will be forwarded to you with your policy. If you have any questions regarding the above or any aspect of your insurance please contact us at:

Email: service@hubsmartcoverage.ca

Or write to us at:

HUB SmartCoverage
P.O. Box 489, Station A
Windsor, ON N9A 6M6