Our Role
We are licensed Managing General Agents (MGA) representing a number of insurers to provide insurance products that meet market needs. In partnership with licensed insurance brokers, we help facilitate appropriate insurance protection at a competitive price.
Our Compensation
When insurance is placed through us, we receive a commission from the insurer. This commission is a percentage of policy premium before taxes and is paid for both new policies and policy renewals.
Typical commission ranges are as follows:
| Product Type | Commission Range | Insurer |
|---|---|---|
| Auto Insurance | 7.5% | Aviva Insurance Company of Canada |
| Specialty Products | 10 – 30% | Aviva Insurance Company of Canada |
| Specialty Products | 10 – 30% | Lloyd's Underwriters |
| Specialty Products | 10 – 30% | Tokio Marine Canada Ltd. |
Contingent (Profit Sharing) Commission
In addition to standard commissions, we may receive contingent or profit-sharing compensation from some insurers. These payments are not guaranteed and depend on factors such as overall profitability, volume, and growth with that insurer.
Conflicts of Interest
We take potential conflicts of interest seriously.
- We are a subsidiary of Aviva Canada
- We are affiliated with Bamboo Premium Financing Inc.
- If a product is distributed by an affiliated company or under a branded program, that relationship will be clearly disclosed.
- Our primary duty is to ensure products offered are suitable and meet regulatory expectations for fair treatment of customers.
Questions or Concerns
If you have any questions about how we are compensated or about the products we manage, please contact us at:
Email: compliance@optiom.com
