RIBO Mandatory Disclosures

Welcome to PAIB Insurance Inc.

At PAIB Insurance Inc., your trust means everything to us. As your independent insurance broker, our mission is to provide you with top-tier insurance products, services, and expert advice. We’re committed to delivering comprehensive coverage, competitive pricing, and exceptional claims support that’s tailored to your unique needs.

We’re proud to be a 100% Canadian, privately-owned brokerage, and we’re here to advocate for you by leveraging our expertise to find the right insurance solutions.

Important Consumer Resources

We encourage you to explore the following valuable resources:

CISRO Principles of Conduct for Insurance Intermediaries: (https://www.cisro-ocra.com/Documents/View/2471)

Fact Sheet About Your Registered Insurance Broker: (https://www.ribo.com/wp-content/uploads/2022/04/RIBO_Conduct_Sheet_040622-fact_sheet.pdf)

Insurers We Represent

We work with a range of personal and specialty insurers, each bringing expertise in different insurance lines. Below is a list of the insurers we partner with to offer you the best options:

Aviva Elite*, Aviva Insurance Company of Canada*, Aviva Traders General Insurance*, Intact*, Travelers*, Echelon*, Economical Insurance*, Optimum Insurance Company*, Gore Mutual Insurance*, Hagerty Canada, The Nordic Insurance Company of Canada.

MGAs: Abex Insurance, A.M. Fredericks Underwriting, April Canada Inc., Aurora Underwriting Services, Beacon Underwriting Ltd., Burns & Wilcox Canada, Cansure, CFF Underwriting, CHES Special Risks Inc., Chutter Underwriting Services, Coalition Insurance Solutions Canada Inc., Evolution Insurance, Forward Insurance Managers Ltd., Foxquilt Insurance Services, Revau, Intact Public Entities, Hub International Quebec Limitee, Jardine Lloyd Thompson Canada, Lloyds, Milnco, Modern Specialty Insurance, ODIS Underwriting, PAL Insurance Brokers, Premier Group of Companies, South Western Group, Special Risk Insurance, Sum Insurance, The Boiler and Insurance Company of Canada, The Totten Insurance Group Inc., Victor Canada, Wilson M. Beck Insurance Services.

Understanding Our Compensation

Our brokerage compensation is part of your premium and varies depending on the type of coverage:

– Automobile Insurance: 5-15%

– Property Insurance: 12.5-20%

– Commercial and Specialty Lines: 4-20%

We receive this compensation annually for both new policies and renewals. Should there be any significant changes to our compensation or an increase in commission rates from your insurer, we will notify you in advance. The insurers with an asterisk recognize our efforts through Contingent Profit Commissions (CPC) based on factors like profitability, volume, and retention. Please note, CPCs are not guaranteed.

Stay Informed

Your insurer will provide you with a Consumer Code of Rights and Responsibilities when you receive your new business policy.

If you have any questions or need further clarification, feel free to contact us. Thank you for choosing PAIB Insurance Inc. as your trusted partner.

We look forward to continuing to serve you!