BROKER DISCLOSURE

Ferrari & Associates Insurance & Financial Services’ role is to offer you the best insurance value that combines coverage, service and price. We provide personalized quality service that also includes ongoing updating of your coverage, and claims support. Where any issues arise, we are your advocate, using our professional experience and expertise to best represent your individual interest.

We can provide this level of service and advice to you by being contracted with a variety of the very best financially stable international and Canadian insurance companies.

They are:

Hagerty*
Travelers
Essential
Chubb Insurance*
Travelers (formerly The Dominion of Canada)*
Echelon
CNA Canada*
Trisura*
Definity Insurance
Intact Insurance (formerly ING)

Wawanesa Insurance*
Premier Marine*
Pacific Marine*
Unica Insurance*
Everest Insurance
Northbridge Insurance
Sovereign General
Pembridge Insurance
Pafco
Ecclesiastical Insurance

Each of the companies that we represent provides us with standard compensation as a percentage of your overall premium, ranging from 4-17.5% for automobile premiums and 4-20% for property premiums. We also represent Facility Association (Nordique Insurance) who compensate us at rates ranging from 5-13.5% for automobile, with the exception of Facility which caps the commission at $370 per policy. These commissions are paid annually to us for both new and renewal business, for the services that we provide to our valued clients.

In order for us to maintain strong relationships with quality insurers, we work with each one of them to provide the type of business they desire. Each of the insurers noted above with an asterisk, recognize our efforts through a contingent profit commission contract. Payment of this profit sharing depends combination of profitability (loss ratio), growth, retention and increased services that we provide on behalf of the insurer. These contingent commissions are based on our entire portfolio of business with that insurer and not on individual policies. They are not guaranteed. For detailed information on contingent profit commissions, please go to the individual company’s website.

Unica Insurance Company currently has direct ownership in Ferrari & Associates Insurance. In addition, Ferrari & Associates Insurance has a loan guaranteed by Unica Insurance Company that was used to expand our business. 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 this or any other aspect of your insurance, please contact us. We look forward to providing you with quality insurance advice and service.

Sincerely,
Enzo Ferrari, CEO
Ferrari & Associates Insurance & Financial Services