Broker Conflict and Commission Disclosure

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. For your benefit, we have attached a list of Insurers that we represent and have included the range of compensation each provides as a percentage of the premium. 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. We encourage you to also consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information.

Humi Inc prides itself on working with great insurance companies and maintaining strong relationships with them. Some of our insurers recognize these efforts and have offered a contingent commission contract. Payment for these contracts depends on the amount of business we submit to each carrier (growth) along with profitability (loss ratios) within a few years.

Humi Inc. 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:

  1. We will always disclose to you the lowest quotation we obtain, even if it is not necessarily our recommended choice.
  2. We will also disclose if the options represent materially different broker compensations.
  3. Humi Inc. is not directly or indirectly owned by an insurance company — not even a minority interest.
  4. We are independently owned and operated serving in the best interests of our clients. Also, we have not accepted any loan or loan guarantee from an insurance company.

We appreciate that you have entrusted Humi Inc. with your insurance brokerage requirements.

Range of commissions payable to us (% of premiums) by contracted Insurers and product line as of March 2021

Insurer Commercial Casualty Commercial Property Fidelity/Surety Commercial Auto Personal Property Personal Auto Contingency Income (Y/N)
Abex Affiliated Brokers Exchange 10-20 10-20 - - - - N
Coalition Inc 10-20 10-20 - - - - N
Dion IPM 15-30 15-30 15-30 - - - Y
Markel Canada 15-25 15-25 15-25 - - - N
Nextwave Insurance 10-20 10-20 10-20 - - - N
Victor Canada 10-20 10-20 10-20 - - - N

"-" indicates line of business not written with insurer