At CP Insurance, we operate under the strict guidance of the Registered Insurance Brokers of Ontario (RIBO) and the Canadian Insurance Services Regulatory Organizations (CISRO). Our dedication to accountability and transparency reflected in our adherence to the regulations and industry standards set by these authorities. We believe in providing our clients with all relevant information to ensure a clear understanding of their rights and our responsibilities.
Regulatory Compliance
We are comply with two regulatory bodies; Registered Insurance Brokers of Ontario (RIBO) and Canadian Insurance Services Regulatory Organizations (CISRO).
RIBO oversees licensing, professional standards, ethical conduct of brokerages and financial accountability of insurance brokers in Ontario.
CISRO ensures consistent qualification and business practices for Canadian insurance intermediaries.
Key Regulatory Documents
The RIBO Code of Conduct Handbook sets the ethical standards for insurance brokers in Ontario.
The CISRO Principles of Conduct for Insurance Intermediaries outlines the professional behavior expectations and common regulatory standards for the fair treatment of customers.
The RIBO Fact Sheet provides essential information about registered insurance brokers, detailing your rights and responsibilities during the insurance process.
Our Services
Our personalized service includes professional insurance advice, ongoing policy maintenance, and dedicated claims support. We advocate on your behalf, leveraging our expertise to represent your individual interests effectively.
Compensation and Commissions
At CP Insurance we work to ensure the best insurance value for our clients. Our compensation, which is integrated into your insurance premium, allows us to provide tailored services and act as your advocate. Below is a list of insurers we collaborate with and the commission ranges we receive from each:
- Travelers Canada: 7.5% – 20% *
- Commonwell Mutual Insurance: 10% – 20% *
- Aviva: 7.5% – 20% *
- Intact Insurance: 7.5% – 20% *
- Gore Mutual Insurance: 10% – 20%
- Wawanesa Mutual Insurance: 10% – 20% *
- Definity Insurance Co. : 7.5% – 20%*
- Facility (Royal): 7.5% – 20% **
* Insurers recognize Contingent Commission Contract
** Commission is capped at $250
Commission percentages are paid annually for both new policies and renewals. We will promptly inform you of any changes to the commission structure or significant alterations affecting compensation.
Working with Insurance Companies
Our disclosure practices are designed to serve the best interests of our clients. We encourage you to review the commitments made by the insurance industry and individual companies by consulting their websites or other available resources.
For any inquiries or additional information, please contact us at [email protected]
