Consent for the Royal brokers to use my PERSONAL INFORMATION
1. PERSONAL INFORMATION
In order to provide a product or service for a client, Royal Brokers needs to collect certain personal information about the client.
Royal Brokers will only collect, use and disclose personal information in such a manner that a reasonable person would consider appropriate in the circumstances.
2. PURPOSES
Information collected may be used for the following purposes:
- to enable Royal Brokers to provide a policy or service to the client and assess his/her ongoing needs for service
- to assess the Client’s need for and to offer other policies, products or services
- to ensure that Client information is accurate and up-to-date
- to protect Royal Brokers and/or an insurer against inaccuracy of underwriting data.
3. DISCLOSURE
Royal Brokers will not use or disclose your personal information, without your consent, for any purpose other than that in which it was collected, unless such use or disclosure is required or allowed by law.
4. DON'T SELL INFORMATION
Your personal information is valuable to us We don't sell to anyone or provide to other third party which is not associated with us to sell their other products or services.
5. PERSONAL INFORMATION PROTECTION
We take necessary security measure to protect our client information. These includes safegaurds to protect personal information against theft or loess as well as unauthorized access, copying or modifications. Only authorized team only has access to your information.
6. CONSENT
The Client may give consent to the collection, use or disclosure of their personal information, expressly in writing or over the telephone or Royal Brokers may determine that consent has been implied by Client actions, such as applying for a policy.
7. REFUSING CONSENT
The Client may refuse to allow Royal Brokers to obtain, use or share particular types of personal information, or also withdraw a previously given consent at any time. However , depending on the type of services to be delivered, a refusal to provide consent or a future withdrawal of consent may result in Royal Brokers being unable to provide some or all of the products or services.
8. ACCURACY
Clients must provide accurate and up to date personal information, so Royal Brokers can properly advise or represent the Client and should inform Royal Brokers of any changed information immediately.
Disclosure
The Royal Brokers comprises of Navigators Insurance Brokers Ltd., Royal Brokers Insurance Brokers Ltd., Royal Brokers Financial Planning Ltd. and Ontario Underwriting Services
Royal Brokers Commercial Commission Disclosure – January 2023
1. Professional Services we provide:
Royal Brokers’s 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 maintenance, value-added business advisory services and 24-hour claims support. When any issue arises regarding your insurance coverage, we are your advocate and use our professional experience to best represent your individual interest.
2. Our compensation for arranging Commercial Lines of Insurance:
Brokerage compensation is typically part of your insurance premium. Below, we have listed the significant Commercial Insurers represented by Royal Brokers and the range of compensation each provides as a percentage of the overall premium appearing on your invoice. The commissions listed cover a wide range of Commercial Lines products. For example, standard commissions for Commercial Automobile and Commercial Property are 10% and 20% respectively. All other products are within that range.
These commission percentages are 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. For example, in certain circumstances, Royal Brokers requests that the Insurer charge a Premium without the broker commission included, and then indicates to customers the brokerage fee that will be charged to compensate Royal Brokers for our efforts on your behalf.
3. What is Contingent (Profit) Commission, and how is it calculated?
In order for us to maintain strong relationships with such quality insurers, we work with each to provide the type of business they desire. The insurers with an asterisk (*) noted above recognize our efforts through a Contingent Commission contract, based on our whole book of business with them, not your individual policy. Payment of this Contingent Commission may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on behalf of the Insurer. There is no guarantee that Royal Brokers will receive any Contingent Commission. For detailed information on specific Contingent Commissions, please go to the individual company’s website.
4. The ownership of Royal Brokers and the absence of other financial links.
Royal Brokers Insurance is a privately owned company and does not have any financial links with any insurance companies. There is no direct or indirect ownership in Royal Brokers by an insurer or financial conglomerate, and there are no loans, credit facilities or other financial relationships direct or indirect between Royal Brokers Insurance and any insurer or financial conglomerate. Royal Brokers is truly an independent brokerage, whose allegiance is to you our customer!
5. To learn more about working with Insurance Companies
Our disclosure commitments are made in the best interest of consumers. We encourage you to also consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information.
Limitation of Liability
The Royal Brokers comprises of Navigators Insurance Brokers Ltd., Royal Brokers Insurance Brokers Ltd ., Royal Brokers Financial Planning Ltd. and Ontario Underwriting Services
Royal Brokers Insurance Brokers Ltd. (“Royal Brokers”), its affiliates and related companies take no responsibility for the accuracy or validity of any claims or statements contained in the information, or related graphics of this site. Further, Royal Brokers makes no representations whatsoever about the suitability of any of the information contained in the information or graphics on this site for any purpose. All such information and related graphics are provided without warranty of any kind. Royal Brokers makes no representations whatsoever about any other Web site which you may access through this site. When you access a non-Royal Brokers Web site, you understand and acknowledge that it is independent from Royal Brokers, and that Royal Brokers has no control over the content on any such Web site. In addition, a link to a non-Royal Brokers Web site does not mean that Royal Brokers endorses or accepts any responsibility for the content, or the use, of such Web site. It is your responsibility to take precautions to ensure that whatever you select for your use by you is free of such items such as viruses, worms, trojan horses and other items of a destructive nature. IN NO EVENT WILL Royal Brokers BE LIABLE FOR ANY DAMAGES WHATSOEVER, INCLUDING SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THE INFORMATION AVAILABLE OR REFERRED TO ON THIS SITE.
