News - Full Story Disclosure about Commercial Commissions – January 2005 1. Professional Services we provide: Hallmark’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 part of your insurance premium. Below, we have listed the Commercial Insurers represented by Hallmark 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 12.5% and 20% respectively.  All other products are within that range. Ace/ INA Insurance  10 – 15 % American International Group  10 – 15 % *Aviva Ins. Co of Canada 12.5 – 20 % *Axa Insurance    12.5 – 20 % Boiler Inspection & Insurance   10 – 20 % *Chubb Insurance     10 – 20 % Commonwealth Insurance 10 –20% Creechurch International   15 – 20 % Ecclesiastical Insurance    15 – 20 % *GCAN General  10 – 20 % *Gore Mutual Insurance   12.5 – 20 % *Guarantee Co North Am   15 – 25 % Grain Insurance    15 % *ING Insurance of Canada   10 – 20 % *Kingsway Insurance   10 – 20 % Liberty International Cda  10 – 20 % Lloyd’s of London   10 – 15 % *Lombard Canada   10 – 20 % Markel Insurance 10% *Optimum Insurance Co.  15 – 20 % *Royal & Sun Alliance 12.5 – 20 % *Sovereign General Insurance 12.5 – 20 % *St. Paul Guarantee   10 – 25 % *Wawanesa Mutual Insre   12.5 – 20 % *York Fire & Casualty    12.5 – 20 % *Zurich Insurance 10 - 20 % 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. 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 Hallmark will receive any Contingent Commission. For detailed information on specific Contingent Commissions, please go to the individual company’s website. 4. The ownership of Hallmark and the absence of other financial links. Hallmark 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 Hallmark by an insurer or financial conglomerate, and there are no loans, credit facilities or other financial relationships direct or indirect between Hallmark Insurance and any insurer or financial conglomerate.  Hallmark 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.
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