Komodo Insurance is an independent broker working on your behalf to secure competitive insurance products with coverage and terms that best protect your property and cover for liabilities you may incur.
The “independent” part of our role means we are not beholden to a single insurance company and your interests are always our priority. Our trained and licensed professionals: provide advice on markets offering the best price, coverage, and service; maintain your policies and manage mid-term changes; advocate for you in the case of policy issues and insurance claims.
Additionally, Komodo Insurance provides value in technical expertise, local knowledge, customer relationships, and professional advice for you.
Compensation for our services and value-adds is paid in the form of a percentage of commission the insurer builds into your total premium.
In the interest of transparency and full disclosure, we provide below a schedule of commissions sorted by insurer and product class. If you are viewing this page on a mobile device, please access the schedule of commissions
Companies
Property
Automobile
Commercial
Aviva*
20%
10% – 15%
15%-20%
Company
Aviva*
Property
20 %
Automobile
10% – 15%
Commercial
15%-20%
CAA Insurance Company**
20%
12.5%
15%-20%
Company
CAA Insurance Company**
Property
20 %
Automobile
12.5%
Commercial
15%-20%
Ecclesiastical
N/A
N/A
15%-20%
Company
Ecclesiastical
Property
N/A
Automobile
N/A
Commercial
15%-20%
Dufferin Mutual
N/A
N/A
15%-20%
Company
Dufferin Mutual
Property
N/A
Automobile
N/A
Commercial
15%-20%
Coachman
N/A
12.5%
N/A
Company
Coachman
Property
N/A
Automobile
12.5%
Commercial
N/A
Chubb
20%
12.5%
15%-20%
Company
Chubb
Property
20 %
Automobile
12.5%
Commercial
15%-20%
Echelon*
N/A
12.5% – 15%
15%-20%
Company
Echelon*
Property
N/A
Automobile
12.5% - 15%
Commercial
15%-20%
Economical Mutual*
20%
10% – 12.5%
15%-20%
Company
Economical Mutual*
Property
20 %
Automobile
10% – 12.5%
Commercial
15%-20%
Nordic
N/A
6% – 11% Capped at $310
5%-10%
Company
Nordic
Property
N/A
Automobile
6% – 11% Capped at $310
Commercial
5%-10%
Gore*
20%
10% – 12.5%
15%-20%
Company
Gore*
Property
20 %
Automobile
10% – 12.5%
Commercial
15%-20%
Intact Insurance*
20%
12.5%
15%-20%
Company
Intact Insurance*
Property
20 %
Automobile
12.5%
Commercial
15%-20%
Jevco*
N/A
12.5%
N/A
Company
Jevco*
Property
N/A
Automobile
12.5%
Commercial
N/A
Max Insurance
20%
N/A
N/A
Company
Max Insurance
Property
20 %
Automobile
N/A
Commercial
N/A
Optimum
N/A
N/A
15%-20%
Company
Optimum
Property
N/A
Automobile
N/A
Commercial
15%-20%
Northbridge
20%
12.5%
N/A
Company
Northbridge
Property
20 %
Automobile
12.5%
Commercial
N/A
Pafco*
20%
12.5%
N/A
Company
Pafco*
Property
20 %
Automobile
12.5%
Commercial
N/A
Pembridge*
20%
12.5%
N/A
Company
Pembridge*
Property
20 %
Automobile
12.5%
Commercial
N/A
SGI Canada
20%
12.5%
N/A
Company
SGI Canada
Property
20 %
Automobile
12.5%
Commercial
N/A
Sovereign General*
20%
10% – 12.5%
15%-20%
Company
Sovereign General*
Property
20 %
Automobile
10% – 12.5%
Commercial
15%-20%
Unica
20%
12.5%
15%-20%
Company
Unica
Property
20 %
Automobile
12.5%
Commercial
15%-20%
Travelers*
20%
12.5%
15%-20%
Company
Travelers*
Property
20 %
Automobile
12.5%
Commercial
15%-20%
Wawanesa Mutual*
20%
7.5% – 12.5%
15%-20%
Company
Wawanesa Mutual*
Property
20 %
Automobile
7.5% – 12.5%
Commercial
15%-20%
Managing General Agents
10% – 15%
7.5% – 12.5%
10%-20%
Company
Managing General Agents
Property
10% – 15%
Automobile
7.5% – 12.5%
Commercial
10%-20%
Commission percentages apply to new business and renewal policies and are paid to the broker annually.
*The success of insurance companies relies on business selected and priced to ensure total premiums exceed claims paid. To encourage growth of profitable business in desired classes, many insurers provide incentives under Contingent (Profit) Commission contracts. An asterisk is shown in the chart above for companies offering programs.
**Komodo Insurance is authorized to sell CAA Membership’s on behalf of CAA and is compensated upon the sale of a membership in the amount of $10 per Basic Membership and $15 per Plus or Premier memberships.
Based on proprietary formulas involving: overall premium volume; growth percentages; profitability (loss ratio); business retention rates; and other service initiatives, we may qualify for compensation under the Contingent Commission programs of insurers. In addition, our principals or other personnel may be invited to attend periodic educational or sales conferences sponsored by insurance companies.
For information specifically related to commitments made by insurance companies, you can refer to the Consumer Code of Rights and Responsibilities provided with your new business policy, or refer to the corporate website of an individual insurance company.
Please do not hesitate to contact us if you have any questions related to this declaration or any other matter involving your insurance.
