At Coughlin Insurance Brokers we are committed to providing our clients with transparent, honest, and fair services. As part of this commitment, we are required by the Registered Insurance Brokers of Ontario (RIBO) to disclose information regarding the compensation we receive from insurance companies. This Compensation Disclosure Statement outlines how we are compensated and the relationships we maintain with insurance providers.

Brokerage Compensation

As an insurance broker, Coughlin Insurance Brokers receives compensation in the form of commissions from insurance companies for placing business with them. This commission is typically a percentage of the premium paid by the client for the insurance policy. The commission rate may vary based on the type of insurance coverage, the insurance company, and other factors. Commission rates generally fall within the following ranges:

Personal Lines (Home, Auto, etc.): 10-20% of the premium
Commercial Lines (Property, Liability, etc.): 15-25% of the premium
Commercial Auto (Trucking): 5-15% of the premium
Life and Health Insurance: 30-60% of the premium in the first year, and 5-10% in subsequent years

Please note that these ranges are for illustrative purposes and may vary depending on specific circumstances. The commission is included in the premium paid by the client.
In some cases, we may also receive a contingency or bonus payment from insurance companies based on factors such as the overall profitability and volume of business we place with the insurer. These payments are not guaranteed and do not impact the premium paid by the client.

Incentives and Bonus Commissions Disclosure

As part of our commitment to transparency and in accordance with RIBO requirements, periodically we may participate in new business or renewal incentives offered by insurance companies, including contest entries and/or bonus commissions. We provide full disclosure of any commissions, bonuses, or prizes we receive as part of our broker compensation to ensure our clients can make a fully informed decision before purchasing a policy.

Referral Fees

Occasionally, Coughlin Insurance Brokers may refer clients to other professionals or businesses, such as lawyers, accountants, or financial planners. In some cases, we may receive a referral fee from these professionals for referring clients to their services. Any referral fees received will not impact the premium paid by the client or the services we provide to our clients.

Disclosure of Brokerage Ownership 

Coughlin Insurance Brokers is an independently owned and operated insurance brokerage. No Insurance company has any ownership, interest, or affiliation in our brokerage.

Our Commitment to Out Clients

At Coughlin Insurance Brokers, we are dedicated to serving the best interests of our clients. Our compensation structure does not influence our recommendations or the quality of service we provide to our clients. We work diligently to find the most suitable insurance coverage for each client based on their individual needs and circumstances.

Should you have any questions or concerns about our compensation or the services we provide, please do not hesitate to contact us at 1-800-663-2999 or info@coughlin.com.

Thank you for choosing Coughlin Insurance Brokers as your trusted insurance broker.