Insurance Disclosure

Disclosure Notices

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W.H. Scrivens & Son Limited is governed by respected organizations including the Registered Insurance Brokers of Ontario (RIBO) and the Canadian Insurance Services Regulatory Organizations (CISRO). RIBO meticulously manages the licensing, professional aptitude, ethical comportment, and fiscal responsibilities of all independent general insurance brokers within the province of Ontario. On the other hand, CISRO serves as a collective of Canadian regulatory entities dedicated to upholding uniform standards in qualifications and business practices for insurance intermediaries.

In our commitment to transparency and accountability to both our clients and the wider community, we adhere diligently to the directives and industry benchmarks set forth by these regulatory authorities. Sharing pertinent information sourced directly from our overseeing bodies is integral to our approach.

 If you have question about these notices, contact your W.H. Scrivens & Son Limited insurance representative directly or email us at info@scrivens.ca.

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  CISRO Principles of Conduct for Insurance Intermediaries:

The CISRO Principles of Conduct for Insurance Intermediaries (the Principles) reflect common regulatory standards for insurance intermediaries in Canada. The Principles outline professional behaviour and conduct expectations for the fair treatment of Customers.

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  RIBO Consumer Rights Fact Sheet for Ontario:

The Registered Insurance Brokers of Ontario (RIBO), the regulatory authority overseeing licensed insurance brokers in Ontario, has released an informative update detailing essential facts about registered insurance brokers. It also provides valuable insights into your rights and responsibilities throughout the insurance process. Fact Sheet About Your Registered Insurance Broker.

 

 RIBO (Registered Insurance Broker of Ontario) Code of Conduct:

The RIBO Code of Conduct, governing the ethical standards for insurance brokers in Ontario, is outlined in Regulation 991, Section14, and the Principal Broker Handbook. Additionally, it is summarized in the standalone Code of Conduct Handbook provided by RIBO, serving as a comprehensive resource for brokers to ensure compliance with professional standards and regulatory requirements.

 

Compensations and Commissions:

We want to clarify our role in the process of purchasing insurance products and services for you, our esteemed client. Simply put, we strive to secure the best insurance value for you, encompassing maximum coverage, top-notch service, and the most competitive price. Our dedication extends to offering personalized, high-quality service, including expert insurance advice, continuous policy upkeep, and support during claims. Whenever there's a concern about your insurance coverage, we're here as your advocate, leveraging our professional expertise to safeguard your interests.

 The compensation we receive as a brokerage, which enables us to secure your optimal insurance value and advocate on your behalf, is integrated into your insurance premium. To shed light on how this compensation, we've outlined the majority of the insurers we work with along with the range of compensation we receive from each as a percentage of your total premium.

 

 Aviva Canada Inc.

  • Personal and Commercial Auto - 7.5% to 15%
  • Personal Property and Commercial Property/Boiler/Liability - 15% to 25%

AXA Insurance

  • Personal - 7.5% to 15%
  • Personal Property - 15% to 25%

Chubb Insurance Company*

  • Personal and Commercial Auto - 7.5% to 12.5%
  • Personal Property - 20%
  • Commercial Property/Boiler/Liability - 15% to 20%

  Ecclesiastical Insurance Company

  • Commercial Property/Boiler/Liability - 12.5% to 20%

Facility Association (Nordic)

  • Personal and Commercial Auto - 7.5% to 10%
  • Personal Property - 20%

Intact Insurance Company*

  • Personal and Commercial Auto - 7.5% to 12.5%
  • Personal Property - 20%
  • Commercial Property/Boiler/Liability - 15% to 20%

Gore Mutual Insurance

  • Commercial and Personal Auto - 7.5% to 12.5%
  • Personal Property - 20%
  • Commercial Property/Liability 15% to 20%

Optimum Insurance Company

  • Personal and Commercial Auto - 7.5% to 12.5%
  • Personal Property and Commercial Property/Boiler/Liability - 15% to 20%

Travelers*

  • Personal and Commercial Auto - 7.5% to 12.5%
  • Personal Property and Commercial Property/Boiler/Liability - 20%

Victor Insurance

  • Commercial Liability/Financial Lines/Property – 7.5% to 15%

 Western General Mutual Insurance

  • Personal Auto - 7.5% to 14%
  • Personal Property - 20%

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To maintain strong partnerships with reputable insurers, we collaborate closely with each one to meet their specific business needs. Those insurers marked with an asterisk (*) acknowledge our dedication through a Contingent Commission agreement. This commission is contingent upon factors such as growth, profitability, volume, retention, and enhanced services provided on behalf of the insurer, though it's important to note that it's not guaranteed. For more details on Contingent Commission, please refer to the respective insurer's website.

 The Commission percentage is paid annually for both new business and renewals. If there are any changes to the commission structure or other significant alterations affecting compensation, we will promptly notify you, as we've done previously. For any inquiries, please reach out to info@scrivens.ca.

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