Commission Disclosure

Commissions & Disclosure Statement

MYCOR Insurance Solutions receives remuneration from these insurers for the tasks we perform for the insurers. Our remuneration is a percentage of the insurance premium paid, and covers the services we provide the insurers. We also may receive payment based on the profitability of the business placed with these insurers. We also may receive an annual fee from the premium finance facility introduced to you by MYCOR Insurance Solutions for the financing of your insurance premium. Lastly, in lieu of commission, clients of MYCOR Insurance Solutions have the option and may elect to have our commission netted out of their policy premium and be charged a fee for the services performed on behalf of that client.

 

Personal and Commercial Lines – Automobile and Property Insurance

The following are the ranges of commission provided by the insurers listed

AIG: 10% – 20%

Allianz 15% – 25%

Arch Insurance Canada Ltd. 15% – 20%

Aviva: 12.5% – 20%

Axis Reinsurance 15%-20%

Berkley Canada: 15% – 20%

BI&I: 10.0% – 20%

Chubb: 12.5% – 20%

Chutter Underwriting Services 15% – 25%

CNA: 12.5% – 20%

Dominion of Canada General Insurance Company — 12.5% – 20%

Echelon General Insurance Company: 5% – 20%

Gore Mutual: 12.5% – 20%

Great American Insurance Companies: 15% – 20%

Guarantee Company of North America: 12.5% – 20%

Ironshore Canada Ltd.: 15%-20%

Markell International 15% – 25%

Price Forbes 15% – 35%

Royal and Sun Alliance Facility: 10%*

Strategic Underwriting Managers 15% – 25%

Trinity Underwriting Managers 15% – 25%

Trisura Guarantee: 10% – 20%

Unica Insurance Company: 12.5% – 20%

Waterloo Insurance Company: 10% – 17.5%

Zurich Insurance Company: 15% – 20%

 

This commission percentage and/or fee for service charge 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.