About MyBrokers
Disclosures
How we are paid, which insurers we represent, and the conduct standards we are held to. All of it is available to you before you buy, and any time after.
Our remuneration
At mybrokers.ca, we take the time to understand your business, reducing your total cost of risk and helping you build a better organization. Our brokers develop long-term relationships with their clients, providing advice, competitive rates, and proactive, customized solutions for their insurance needs.
With access to over 120 insurers and managing general agents, we canvas the market for the right combination of insurance features to make sure our clients are getting the best coverage and price possible. Listed in the Disclosure Notice below are the insurers we represent, including the range of compensation each one provides as a percentage of your overall premium.
When it is in your best interest, we place risk in specialty markets, which typically provide lower compensation rates than contracted insurers. In cases where a fee is charged in lieu of, or in addition to, commission, the breakdown of numbers is always disclosed.
Some insurers under contract recognize our efforts through contingent commission contracts. Payment of these contracts depends on profitability (loss ratio) and/or growth (usually over a number of years) and/or increased services that we provide on behalf of the insurer. When there are large losses, they can disqualify us from receiving a contingent profit payment for one or more years. For detailed information about contingent commission, please go to the individual insurer websites.
We are pleased to provide the Disclosure Notice below.
Principles of Conduct
As a customer, you have the right to professional advice from your insurance broker or agent who is well informed about the products they are selling. You have the right to be treated with fairness and integrity.
We follow the Principles of Conduct for Insurance Intermediaries set by the Canadian Insurance Services Regulatory Organizations (CISRO). Our fact sheet below sets out what you are entitled to expect from us, and you can read the regulators' own document alongside it.
Ontario clients: RIBO
General insurance brokers in Ontario are regulated by the Registered Insurance Brokers of Ontario (RIBO). RIBO sets the licensing, continuing education, and conduct requirements brokers must meet, and its mandatory disclosure guidance covers duty of care, compensation and commissions, third-party financial interest, sales incentives, and other disclosures.
RIBO publishes a fact sheet explaining your rights when you deal with a registered broker. We link to RIBO's own copy in English and French so you always get the current version.
Licensing and complaints
mybrokers.ca is the registered trade name of Navacord Insurance Services Alberta Inc. o/a mybrokers.ca. We are licensed in Alberta and Ontario, and clients in British Columbia are served by our individually licensed brokers.
If something goes wrong, tell us first. Email info@mybrokers.ca or call 1 (866) 470-7000. You can also take a complaint to your provincial regulator: the Alberta Insurance Council in Alberta, the Insurance Council of British Columbia in British Columbia, or RIBO in Ontario.
Questions about any of this?
Ask us how we get paid on your file. We will tell you, in writing, before you buy.