Compensation

To Our Customers:

RIO Insurance Brokers Inc. is an independent insurance brokerage representing multiple insurance companies. Our role is to provide you, our client, with the best insurance value that combines coverage, service and price. We provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support.

Our compensation as your broker is a percentage of your insurance premium. For your benefit, we have attached a list of all Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium.

Insurance Company Commission (%)
Commission is paid for new business,
mid-term policy changes and renewals.
Personal Lines Commercial Lines
Automobile Habitational Specialty
Lines
Automobile Property Casualty Specialty
Risks
AVIVA Canada 12.5-17.5 20-24 4-11 7-17.5 20 20 4-10
British Marine - - - - - - 12.5-15
Chubb Insurance Company - - - - 15 15 15
Guarantee Company of NA - - - - - - 15
Intact Insurance Company 12.5 20 20 12.5 20 20 20
Jevco Insurance Company 5-12.5 - - 10-12.5 20 20 -
Northbridge Insurance - - - 10 - - -
Novex 5-12.5 20 - - - - -
Perth Insurance 5-12.5 20 - - - - -
Unica* 12.5 20 20 12.5 20 20 15
Wynward - - - - 20 20 -
Facility Association
** commission is capped at $310
$310 - - $310 or
10%
- - -
Various Special Risk Intermediaries - 15 15 - 10-15 10-15 10-15

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.

Our success is due in part to the relationships that we form with the insurance companies that we represent. We work hard to earn your business which in turn provides them with the quality and type of business that they desire. The insurers with an asterisk (*) noted above recognize our efforts by allowing us the opportunity to earn a Contingent (Profit) Commission. This Contingent Commission is not guaranteed and the calculation of profit commissions involves a combination of factors such as profitability (loss ratio), retention, growth, volume, and services that we may provide on behalf of the Insurer. Details of individual company Contingent Commission policies can be found on their respective websites.

Your Insurer will be providing you with a Consumer Code of Rights and Responsibilities that 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 contact us.