To Our Valued Customers:
OUR DISCLOSURE STATEMENT
It is important for you,
our valued customer, to know we are a truly independent
insurance broker. No insurer owns shares in our company. No
insurer has loaned money to our company. We have no special
financial arrangements with any insurer. As a result, we are
in a position to provide objective, unbiased professional
service and advice on your insurance needs. We value this
independence, and consider the maintenance of this status to
be of the highest importance.
Services Provided
As your independent
insurance broker, 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 management 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
Broker compensation is part
of your insurance premium. For your information, we have
attached a summary of our Automobile and Property Insurers
that we represent and have included the range of
compensation each provides as a percentage of your overall
premium.
In order for us to maintain
strong relationships with quality Insurers, we work with
each company to provide them with the type of business they
desire. All of the attached Insurers with the exception of
the Facility Association recognize our efforts through a
Contingent Profit Commission agreement. Payment of
Contingent Profit Commission is dependent primarily on
profitability or the loss ratio and is not guaranteed. In
addition, volume, growth and retention of business may also
be considered in determining qualification for Contingent
Profit Commission. For detailed information on Contingent
Profit Commission, please go to the individual company’s
website.
Your Insurer
will be providing you with a Consumer Code of Rights and
Responsibilities which will be forwarded to you with your
new business policy. If you have any questions regarding the
above or any other aspect of you insurance please contact
us.
Allegiant Insurance Brokers Inc.
January 2005
Summary of Broker Commissions
(as a percentage of premium)
| |
Automobile
|
Other than Auto
|
| Aviva Insurance
Co. |
7.5 to 12.5%
|
15.0 to 20.0% |
| Chubb Insurance
Co. |
5.0 to 10.0% |
15.0 to 20.0% |
| Facility
Association * |
6.0 to 11.0% |
N/A |
| ING Insurance
Company |
7.5 to 12.5%
|
15.0 to 20.0% |
| Kingsway General
Insurance Co. |
5.0 to 12.5%
|
N/A |
| Royal &
SunAlliance Insurance Co. |
7.5 to 12.5%
|
15.0 to 20.0% |
| Scottish & York
Insurance Co. |
10.0 to 12.5% |
15.0% |
| Traders General
Insurance Co. |
8.5 to 11.5%
|
16.5% |
* commission is capped at $
250.00
This commission percentage
is paid annually for both new and renewal policies.
|
