We represent multiple insurers either directly by contract, or through wholesale Managing General Agent distributors.
ERAssure® Executor Liability policies are underwritten exclusively through HDI Global Specialty SE – Canadian Branch; other lines of insurance and surety are placed through other underwriters as required on a case by case basis.
We are paid a percentage of the total premium, excluding tax, as commission compensation for the service which we provide, and we pay our brokerage operating expenses from this commission.
Our commission levels range from a low of 3% in respect to home and auto insurance to a high of 30% for surety and specialty liability; we perform many of the administrative functions of an insurance company in respect to specialty liability and surety insurance, with the exception of claims administration. Our commission levels include a provision for these administrative functions within the commission levels shown above.
We also manage the distribution of executor liability insurance through licensed insurance agents and brokers nationally, and we pay a sales commission to those agents and brokers from the gross commission that we earn. In the event these commissions increase, we will update this disclosure statement accordingly.
We may undertake unique underwriting projects on what is termed Fee for Service arrangements; in these cases, we will negotiate the applicable fee with the client in advance of the project.
We are not owned in whole or in part by any insurance company. We do not receive any separate revenue in the form of sales bonuses or claim performance bonuses from the insurers that we represent.