Compensation Disclosure Statement

As your independent insurance broker, we purchase insurance products and services on your behalf that are available, affordable and understandable. At The Regional Insurance Services Inc. we are committed to providing our clients with transparent, honest, and fair services. As part of this commitment, we are required by the Registered Insurance Brokers of Ontario (RIBO) to disclose information regarding the compensation we receive from insurance companies. You have the right to ask how a broker is paid, the insurance companies they represent, and be informed about any potential conflicts of interest the broker may have. All RIBO licensed brokers must disclose commission information at the point of sale which outlines how they are paid.  This Compensation Disclosure Statement outlines how we are compensated and the business relationships we maintain with insurance providers.

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Brokerage Compensation

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​As an insurance broker, The Regional Insurance Services Inc. receives compensation in the form of commissions from insurance companies for placing business with them. This commission is typically a percentage of the premium paid by the client for the insurance policy. The commission rate may vary based on the type of business, insurance coverage, the insurance company, and other factors. The commission is included in the premium paid by the client. For the full list of the insurers that we represent and the commission that each provides as a percentage of your overall premium, click HERE (link to PDF).

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In some cases, we may also receive a contingency or bonus payment from insurance companies based on factors such as the overall profitability and volume of business we place with the insurer. These payments are not guaranteed and do not impact the premium paid by the client.
Should there be an increase in any commission we receive from your insurer, or any other material change that affects compensation arrangements, this disclosure statement will be amended accordingly.

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Disclosure of Brokerage Ownership

The Regional Insurance Services Inc. is an independently owned and operated insurance brokerage. No Insurance company has any ownership, interest, or affiliation in our brokerage.
 

Our Commitment to Our Clients

At The Regional Insurance Services Inc., we are dedicated to serving the best interests of our clients. Our compensation structure does not influence our recommendations or the quality of service we provide to our clients. We work diligently to find the most suitable insurance coverage for each client based on their individual needs and circumstances. For a copy of the CISRO Principles of Conduct for Insurance Intermediaries, click HERE (link to PDF). For a copy of the RIBO Code of Conduct Handbook, click HERE (link to PDF).

Should you have any questions or concerns about our compensation or the services we provide, please do not hesitate to contact us at 1-905-238-9676 or info@regionalinsurance.com

 

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