Regulatory Disclosures
We Work For You.
As we value being open and transparent with our clients, please find resources in the role of a broker and regulatory guidelines for the insurance industry.
Insurance is a Regulated Profession
We are governed by the Registered Insurance Brokers of Ontario (RIBO) and the Canadian Insurance Services Regulatory Organizations (CISRO). RIBO regulates the licensing, professional competence, ethical conduct, and insurance-related financial obligations of all independent general insurance brokers in the province. CISRO is a forum of Canadian regulatory authorities who are dedicated to consistent qualifications and conduct of business standards for insurance intermediaries.
At Gifford Carr, we follow guidelines and industry best practices as outlined by both regulatory bodies.
As we value being open and transparent with our clients and community, we wanted to share information below from our governing bodies:
- CISRO Principles of Conduct for Insurance Intermediaries
- RIBO Factsheet About Your Registered Insurance Broker
Compensation Disclosure
Brokerage compensation is part of your insurance premium. For your reference, we have outlined our insurer partners and included the compensation range each provides as a percentage of your overall 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 clients. We encourage you also to consult the commitments made by the insurance industry and individual companies by consulting their websites or other available industry information.
