BSMW Broker Disclosure Statement
License and jurisdiction: Barber Stewart McVittie and Wallace Insurance Brokers LTD. (BSMW) is duly licenced to conduct business as an Insurance brokerage in the province of Ontario, subject to regulation by the Registered Insurance Brokers of Ontario (RIBO) in Compliance with the R.I.B. Act.
Companies we represent: We work with a range of insurance companies and service providers to meet the needs of our clients. Companies with whom we do business include: AIG, Aviva, Chubb, Economical, Ecclesiastical, Everest, Gore, Intact, Jevco, Perth, RSA, and Travelers. As is common in the industry we also deal with qualified and reputable Managing General Agencies (MGA).
Our independence: BSMW Financial is an independent firm. We are not bound to represent any one insurer or service one provider over another. We do however have a financial relationship with Aviva Canada.
Our revenue: Brokerage compensation is part of your insurance premium. For your benefit, we have listed below Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium.
- Aviva Insurance 7.5% – 20% based on line type
- Chieftain Insurance 7.5% – 20% based on line type
- Chubb Insurance 7.5% – 20% based on line type
- Economical Insurance Group 7.5% – 20% based on line type
- Ecclesiastical Insurance 7.5% – 20% based on line type
- Everest Insurance 7.5% – 20% based on line type
- Intact Insurance 7.5% – 20% based on line type
- Jevco General Insurance 5% – 20 % based on line type
- Perth Insurance 7.5% – 20% based on line type
- Royal and Sun Alliance 7.5% – 20% based on line type
- Travelers Insurance 7.5% – 20% based on line type
The above-noted 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.
The brokerage may qualify to earn bonuses or other benefits but these are inducements are not guaranteed.
Conflicts of interest: We are committed to providing our clients with written disclosure in the event we are aware of any potential conflicts of interest that might impact our objectivity and/or the advice we provide to our clients.
Additional information: If you require any more information about our qualifications or our business relationship, please do not hesitate to ask.
- Code of Conduct
- Required Disclosures
- Do Not Call and Anti-Spam (CASL)
- Records & File Management
- Responding to insurance company requests
- Regularly Audits and Legal Proceedings
- Membership if professional Associations
- CASL / Do not call
- Privacy – PIPEDA
Last updated: June 2017
Barber, Stewart, McVittie & Wallace (BSMW) operates http://bsmw.ca. This page informs you of our policies regarding the collection, use and disclosure of Personal Information we receive from users of the site.
We use your Personal Information only for providing and improving the Site. By using the Site, you agree to the collection and use of information in accordance with this policy.
Information Collection And Use
While using our Site, we may ask you to provide us with certain personally identifiable information that can be used to contact or identify you. Personally identifiable information may include, but is not limited to your name (“Personal Information”).
Like many site operators, we collect information that your browser sends whenever you visit our Site (“Log Data”).
This Log Data may include information such as your computer’s Internet Protocol (“IP”) address, browser type, browser version, the pages of our Site that you visit, the time and date of your visit, the time spent on those pages and other statistics.
In addition, we may use third party services such as Google Analytics that collect, monitor and analyze this.
The Log Data section is for businesses that use analytics or tracking services in websites or apps, like Google Analytics.
We may use your Personal Information to contact you with newsletters, marketing or promotional materials and other information that you have granted us permission to contact you.
The Communications section is for businesses that may contact users via email (email newsletters) or other methods.
Cookies are files with small amount of data, which may include an anonymous unique identifier. Cookies are sent to your browser from a web site and stored on your computer’s hard drive.
Like many sites, we use “cookies” to collect information. You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent.
The security of your Personal Information is important to us, but remember that no method of transmission over the Internet, or method of electronic storage, is 100% secure. While we strive to use commercially acceptable means to protect your Personal Information, we cannot guarantee its absolute security.