Disclosure Policy Statement and Statement of Services and Compensation


Disclosure Policy Statement and Statement of Services and Compensation

Dream Insurance Brokers Inc. is a privately held, independent Canadian insurance broker. No insurer owns shares in our company. We have no commitments or special financial arrangements to maintain or increase insurance premiums with any insurer.

Services we provide:  As your independent insurance broker, our role is to provide you with the best insurance value combining coverage, service and price.  We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support.  When any issue arises regarding your insurance coverage, we are your advocates, using our professional experience to best represent your individual interest.

How we get paid: Broker compensation is part of your insurance premium. The summary of our key insurance company relationships and the related compensation ranges provided to us as a percentage of overall premium is listed below. The percentages vary based on the type of policy.

Occasionally, we will place your insurance with a Managing General Agency (MGA) that is acting on behalf of one or more licensed Canadian Insurers. The compensation ranges provided to us as a percentage of overall premium is also listed below.

From time-to-time, insurers will offer incentives to individual brokers, including contest entries, trips and other forms of hospitality. Such sales incentives are typically based on performance criteria established by the insurer.  We are committed to providing objective advice to all of our customers and, not withstanding the receipt of any such incentives, are primarily concerned with servicing our clients’ best interests.

On occasion, with more complex business insurance programs and where additional resources, products or services are appropriate, fees (in addition to a 1% insurer access fee on commercial accounts) may be negotiated for placement of insurance coverage or additional services. Fees charged for the placement of insurance will be outlined in a proposal and approved by you, usually in writing, prior to the binding of coverage. We may receive both commissions and client-paid fees for placing insurance, which will be disclosed in writing to you in advance.

Broker Contingent Profit Commission: In order for us to maintain strong relationships with quality insurance companies, we work with each to provide the type of business they desire. Some of our contracted insurers and premium finance companies recognize our efforts through a contingent profit commission contract.  Payment of this commission is not guaranteed and may depend on a combination of growth, profitability (loss ratio), volume, retention, and increased services that we provide on behalf of the insurer. For detailed information on Contingent Commissions, please go to the individual insurer’s website.

Your insurance provider will be providing you with a Consumer Code of Rights and Responsibilities which will be forwarded to you with your new business policy.

Our disclosure statement is updated annually and is made with your best interests in mind. We also encourage you consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information in addition to this statement.

If you have any questions regarding this or any other aspect to your insurance, please contact us.

Broker Commission Summary

Insurer Commission (percentage of Premium)
Abex Underwriting 10% to 20%
Allianz Canada – Travel products 15% to 40%
April Canada 10% to 20%
Arch Canada 10% to 20%
Aviva Canada 10% to 20%
Beazley Canada 10% to 20%
Berkley Canada 10% to 20%
Boiler Inspection & Insurance Co. of Canada 15% to 20%
Burns & Wilcox 10% to 20%
Cambrian Special Risks 10% to 20%
Can Sure Underwriting 10% to 20%
Dual Underwriting 10% to 20%
Echelon Insurance 10% to 25%
Encon Group Inc. 10% to 20%
Excess Underwriting 10% to 20%
First Insurance Funding of Canada 0% to 1%
Dominion of Canada 7.5% to 20%
Gore Mutual Insurance of Canada 10% to 20%
Guarantee Company of North America 10% to 30%
Liberty International Underwriters Canada 7.5% to 20%
Lloyd’s of London 15% to 25%
Markel Canada 15% to 25%
Northbridge Insurance 15% to 25%
Next Wave Insurance Services 10% to 20%
Royal & Sun Alliance Insurance Company 7.5% to 25%
Snap Premium Finance 0% to 1%
South Western Group 10% to 20%
Totten Insurance Group 10% to 25%
Travelers Insurance Company 7.5% to 20%
Trinity Underwriting 10% to 20%
Trisura Guarantee 15% to 27.5%
Securiglobe International – Travel products 10% to 25%

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