How we get paid for our services

For the insurance services we provide to you, we receive a percentage of your annual insurance premium as a commission, paid to us by your Insurance Company. Our typical commission is 12.5% on Ontario Automobile Insurance Policies and 20% on Personal Property Policies. This commission percentage is paid to us, each policy term, for both new policies and renewals. Additionally, we have contingent profit agreements in place with several of the insurers we represent. With these agreements we may qualify for additional compensation if we meet certain requirements related to growth, retention, and loss ratios. 

Inova Insurance Brokers is privately owned, and completely independent. There is no direct or indirect ownership interest by any Insurance Company or Financial Institution. There are no conflicts of interest in our relationship with you, our compensation structure does not factor into the insurance advice we provide to you, our recommendations are always based on our best understanding and assessment of your needs.

Inova has contracted with Canadian Insurance Alliance (2018) Inc. to provide certain sales, service, and brokerage management operations in support of its’ operations. Canadian Insurance Alliance (2018) Inc. is paid a commission for these services.

Full Compensation List:

Company Auto Property
Aviva* 10-12.5% 20%
Economical* 10-12.5% 20%
Pafco* 12.5% 20%
Pembridge* 12.5% 20%
Travelers* 12.5% 20%
Zenith* 10-12.5% 20%
Facility (Nordic) capped at $250 NA

Commission percentages are paid annually to the broker 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.

*This company offers incentives under Contingent (Profit) Commission or Growth contracts.