Disclosure

 RIBO Disclosure Letter

RDA Inc.

RDA Corp.

RDA Ltd.

RDA Insurance Corp.

North City Insurance Brokers, a division of RDA Insurance Corp.

North Bay Insurance Brokers, a division of RDA Insurance Corp.

Sudbury Insurance Brokers, a division of RDA Insurance Corp.

North Shore Insurance Brokers, a division of RDA Insurance Corp

North City Insurance Brokers Inc.

MyGeneration, a division of North City Insurance Brokers Inc.

 

Dear Customer,

Welcome to the RDA Insurance Group of insurance brokerages, and thank you for choosing us for your insurance needs. We appreciate your business and will do our best to deliver exceptional personal service and professional advice.

RDA started in 1982 in a modest office in North Toronto and has been serving the insurance needs of individuals, first responders and, businesses in the GTA & Northern Ontario for over 35 years. Since our beginnings we have expanded to 4 offices in Ontario, with over 130 employees dedicated to providing you with professional advice on your insurance needs.

 

We are a full service brokerage offering general insurance for houses, cars, businesses, group programs for professionals and first responders, as well as providing financial services including life insurance, employee benefit programs, disability insurance, pension plans  and R.R.S.P’s. We operate under several names in different areas of the Province and have provided a list of those names above.

 

As an insurance broker; we serve as an intermediary between you and the insurance companies which we represent. We help to place your insurance with an insurer that is reliable, best suited for your needs and provides a competitive price. In addition to solving problems which may arise and providing you with professional insurance advice, we are dedicated to obtaining fair treatment for you in the event of a claim.

In return for these services, we are paid a commission by the insurance company based on your premiums. These commissions vary from company to company and also on the type of policy that is being written. The list below shows the companies that we represent and the range of commission we earn when placing your insurance policy with them.                                                                                           

Insurance Company Commission Range
 % Personal Automobile Insurance Personal Property Insurance Commercial Insurance
A.M. Fredericks Underwriting Management Ltd. n/a n/a 12.5% – 15%
ABEX Affiliated Brokers Exchange Inc. n/a 15% 15% – 17.5%
*Algoma Mutual Insurance Co. 10% – 12.5% 17.5 – 20% 20%
April Marine Canada Inc. n/a 15% – 20% 15%
ARAG Services Corporation n/a n/a 17.5%
*Aviva Insurance Company 7.5% – 17.5 % 20% – 22% 5% – 20%
Berkley Insurance Company n/a n/a 15% – 20%
Boiler Inspection and Insurance n/a n/a 20%
*CAA Insurance Co. 12.5% 20% n/a
Can-Sure Underwriting Limited n/a n/a 15%
CFC Underwriting Limited n/a n/a 17.5%
*Chieftain Insurance 12.5% 20% n/a
*Chubb Insurance Company of Canada 10% 15% – 20% 4% – 20%
Coast Underwriting Ltd. n/a n/a 15%
*Continental Casualty Company 12.5% n/a 10% – 20%
DAS Legal Protection Insurance Company n/a n/a 17.5%
*Dominion of Canada 10% – 12.5% 20% 5% – 20%
Eagle Underwriting Group Inc. n/a n/a 15%
Ecclesiastical Insurance n/a n/a 10% – 20%
*Echelon General Insurance Company 10% – 12.5 % n/a 12.5% – 20%
*Economical Insurance Group 10% – 12.5% 20% 7.5% – 20%
*Elite Insurance Company 12.5% 12.5% – 20% 12.5% – 20%
Fenn & Fenn Insurance Practice n/a n/a 10% – 15%
*Gore Mutual Insurance Company 10% – 12.5% 20% 10% – 20%
Great American Insurance Company n/a n/a 15% – 20%
GroupOne Underwriters n/a n/a 15%
*Hagerty Canada LLC 12.5% n/a n/a
*Intact Insurance 10% – 15% 20% 7.5% – 20%
*Jevco Insurance 5% – 12.5% n/a n/a
Liberty Mutual Insurance Company n/a n/a 10% – 20%
*Lloyd’s Underwriters n/a n/a 12.5% – 25%
*Northbridge General Insurance Corp. 7.5% – 12.5% 20% 7.5% – 20%
*Pafco Insurance 10% – 12.5% n/a n/a
*Pembridge Insurance Co. 10% -12.5% 20% n/a
*Perth Insurance 10% – 12.5% n/a n/a
Premier Canada Ass. Man. Ltd. 10% – 12.5% 15% 15% – 17%
*Royal & Sun Alliance Insurance Company of Canada. 10% – 12.5% 20% 7% – 20%
*Scottish & York 12.5% 20% n/a
South Western Group n/a n/a 12.5% – 15%
*Sovereign General Insurance Company 7.5% – 12.5% n/a 5% – 20%
*The Guarantee Company of North America 12.5% 20% 10% – 15%
Totten Group Insurance n/a 10% – 15% 12.5% – 15%
*Traders General Insurance Co. 8% – 15% 16% – 24% n/a
*Travelers Insurance Co. of Canada 12.5% 20% 10% – 20%
*Trisura Guarantee Insurance Co. n/a n/a 17.5%
*Wawanesa Mutual Insurance Co. 10% – 12.5% 20% 12.5% – 20%
*Western Assurance Co. 10% – 16% 10% – 25% n/a
*Zurich Insurance Company Ltd. 8% – 12.5% n/a 5% – 20%

 

The commissions we receive are paid annually for both new business and renewals. In addition to the commission we receive for placing insurance with these companies, we may also receive a “Contingent Commission”. Those companies marked with an asterisk (*) may pay us a contingent commission. This is payable on a book of business that is placed with an insurance company if this book is profitable for the insurance company. This contingent commission is not guaranteed and cannot be predicted in advance. Over the past five years, we have received between 1% and 2% per year in Contingent Commission.

 

On occasion we have the need to place coverage with Wholesale Insurance Brokerages, who have access to products and insurance companies that we do not represent.   Upon request we can provide you with the commission we receive from these companies

 

We also have received financial assistance from insurance companies over the years to help us achieve certain goals. Currently, Aviva Insurance Company of Canada has a minority equity position in our brokerages and has loaned us money to purchase insurance brokerages in Ontario.

 

We want you to know that we are proud of our independence, financial stability and that you will be able to count on us to be there for you in your time of financial need. We will work every day to demonstrate our level of commitment to you our valued customer. 

 

Sincerely, 

 

RDA Insurance Group