Insurance Disclosure

Disclosure Notices

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W.H. Scrivens & Son Limited is governed by respected organizations including the Registered Insurance Brokers of Ontario (RIBO) and the Canadian Insurance Services Regulatory Organizations (CISRO). RIBO meticulously manages the licensing, professional aptitude, ethical comportment, and fiscal responsibilities of all independent general insurance brokers within the province of Ontario. On the other hand, CISRO serves as a collective of Canadian regulatory entities dedicated to upholding uniform standards in qualifications and business practices for insurance intermediaries.

In our commitment to transparency and accountability to both our clients and the wider community, we adhere diligently to the directives and industry benchmarks set forth by these regulatory authorities. Sharing pertinent information sourced directly from our overseeing bodies is integral to our approach.

If you have question about these notices, contact your W.H. Scrivens & Son Limited insurance representative directly or email us at info@scrivens.ca.

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CISRO Principles of Conduct for Insurance Intermediaries

The CISRO Principles of Conduct for Insurance Intermediaries (the Principles) reflect common regulatory standards for insurance intermediaries in Canada. The Principles outline professional behaviour and conduct expectations for the fair treatment of Customers.

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RIBO Consumer Rights Fact Sheet for Ontario

The Registered Insurance Brokers of Ontario (RIBO), the regulatory authority overseeing licensed insurance brokers in Ontario, has released an informative update detailing essential facts about registered insurance brokers. It also provides valuable insights into your rights and responsibilities throughout the insurance process

‍Fact Sheet About Your Registered Insurance Broker.

RIBO (Registered Insurance Broker of Ontario) Code of Conduct

The RIBO Code of Conduct, governing the ethical standards for insurance brokers in Ontario, is outlined in Regulation 991, Section 14, and the Principal Broker Handbook. Additionally, it is summarized in the standalone Code of Conduct Handbook provided by RIBO, serving as a comprehensive resource for brokers to ensure compliance with professional standards and regulatory requirements.

Consumer Rights and Obligations

As a consumer, you have the right to professional advice from a broker who is well-informed about the products they are selling, and the right to be treated with fairness and integrity. Being informed helps to protect your interests and ensure that you get the coverage you need from RIBO-licensed insurance brokers.

You have the right to be informed about how insurance works, how premiums are calculated, and to understand the claims settlement process, including procedures, timelines, and the status of your claim. If your claim is denied, you have the right to be informed why it was denied.

Additionally, you have the right to know how your personal information will be used and protected. You can request a copy of the privacy statement from your broker or insurer.

To ensure your insurance coverage remains appropriate, you should:

Consider your insurance needs and prepare relevant questions before consulting a broker.
Provide a detailed explanation of your circumstances to allow your broker to make informed recommendations.
Understand your obligations under your policy, including providing updates to your broker and insurer regarding any material changes in your circumstances.

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Check Whether Your Broker or Brokerage is Licensed

All insurance brokers and brokerages in Ontario must be licensed by RIBO.

RIBO maintains an insurance broker registry and insurance brokerage registry that allows consumers to verify if a broker or brokerage is currently licensed.

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Dealing With Your Insurance Broker

To help protect your interests when dealing with your insurance broker, consider the following:

Premium Quotes

Be cautious of insurance premium quotes that appear too good to be true.
Educate yourself about the general range your premiums are likely to fall within.
Understand that premium quotes are only estimates and are confirmed only when coverage is bound.

Purchasing Coverage

You have the right to be fully and clearly informed about your insurance policy, including costs, payment options, and coverage details.
Ensure you understand what is not covered and what options exist for additional protection.

Review Your Policy

Carefully review your contract to ensure accuracy, as incorrect information can result in inadequate coverage or even policy cancellation.
If available, request a copy of the policy wording before purchasing.
Ask your broker any questions or seek clarification on policy terms.

Paying Your Broker or Insurance Company

Cash payments should be avoided—payments should be made to either the brokerage or the insurance company, never to an individual broker.
Ensure you receive an accurate record of your payment.
If canceling or changing your policy, you may be entitled to a partial refund of your premiums, minus service charges.

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Broker Qualifications & Oversight

Every registered insurance broker must meet qualification standards and continuing education requirements established by RIBO.
RIBO brokerages must maintain a Fidelity Bond, offering protection to consumers in case of mismanagement of premiums.
Insurance brokers must also be bonded and covered under an Errors & Omissions insurance policy.

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Complaints Process

If you are dissatisfied with the service you received, we encourage you to contact your brokerage directly.

If you believe a broker has not followed RIBO standards, you may file a complaint online with RIBO.

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Compensations and Commissions

We strive to secure the best insurance value for our clients, including maximum coverage, high-quality service, and competitive pricing.

Our compensation as a brokerage is built into yourinsurance premium. Below is a list of the insurers we work with and the rangeof compensation we receive as a percentage of your total premium:

‍ Aviva Canada Inc.

Personal and Commercial Auto: 7.5% to 15%
Personal Property and Commercial Property/Boiler/Liability: 15% to 25%

AXA Insurance

Personal Auto: 7.5% to 15%
Personal Property: 15% to 25%

Chubb Insurance Company*

Personal and Commercial Auto: 7.5% to 12.5%
Personal Property: 20%
Commercial Property/Boiler/Liability: 15% to 20%

Ecclesiastical Insurance Company

Commercial Property/Boiler/Liability: 12.5% to 20%

Economical Insurance

Commercial and Personal Auto: 7.5% to 12.5%
Personal Property: 20%
Commercial Property/Liability: 15% to 20%

‍Facility Association (Nordic)

Personal and Commercial Auto: 7.5% to 10%
Personal Property: 20%

Intact Insurance Company*

Personal and Commercial Auto: 7.5% to 12.5%
Personal Property: 20%
Commercial Property/Boiler/Liability: 15% to 20%

Gore Mutual Insurance

Commercial and Personal Auto: 7.5% to 12.5%
Personal Property: 20%
Commercial Property/Liability: 15% to 20%

Optimum Insurance Company

Personal and Commercial Auto: 7.5% to 12.5%
Personal Property and Commercial Property/Boiler/Liability: 15% to 20%

Travelers*

Personal and Commercial Auto: 7.5% to 12.5%
Personal Property and Commercial Property/Boiler/Liability: 20%

Victor Insurance

Commercial Liability/Financial Lines/Property: 7.5% to 15%

Western General Mutual Insurance

Personal Auto: 7.5% to 14%
Personal Property: 20%

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To maintain strong partnerships with reputable insurers, we collaborate closely with each one to meet their specific business needs. Insurers marked with an asterisk (*) acknowledge our dedication through a Contingent Commission agreement. These agreements consider factors such as growth, profitability, volume, retention, and enhanced services, though the commission is not guaranteed.

The commission percentage is paid annually for both new business and renewals. If there are any changes to the commission structure, we will notify you promptly.

For any inquiries, please reach out to info@scrivens.ca.

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