Conduct Standards
Thank you for your business. As your Independent Insurance Broker, we purchase insurance products and services on your behalf.
Our role is to provide you with the best insurance value that combines 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 advocate, using our professional experience to best represent your individual interest.
Brokerage compensation is part of your insurance premium.
This commission percentage is paid annually for both new business and renewals. Should there be an increase in the commission schedule we receive from your insurer, or any other material change that affects compensation arrangements, we will notify you. Our disclosure commitments are made in the best interest of consumers.
BFL CANADA Risk and Insurance Services Inc. (“BFL CANADA”) will not allow any insurance company to create a conflict of interest that would influence our mandate to act exclusively on your behalf. We are pleased to confirm the following:
- We will always disclose to you the lowest quotation we obtain, even if it is not necessarily our recommended choice.
- We will also disclose if the options represent materially different broker compensations.
- BFL CANADA is not directly or indirectly owned by an insurance company – not even a minority interest. We are independently owned and operated by Canadians with offices across Canada serving in the best interests of our clients. Also, we have not accepted any loan or loan guarantee from an insurance company.
BFL CANADA signs supply agreements with insurers. Some of these agreements include Contingent (Profit) Commission and/or Supplemental Commission clauses. Payment of this Contingent Commission and/or Supplemental Commission may depend on a combination of growth, profitability (loss ratio), volume, retention, and/or increased services that we provide on behalf of the insurer. It is based on our entire portfolio of business with that insurer and not on individual policies. Contingent Commission is not guaranteed.
We appreciate that you have entrusted BFL CANADA with your insurance brokerage requirements.
