The Grenville Mutual Insurance Company
Broker and Agent Compensation
The Grenville Mutual Insurance Company has been operating in Eastern Ontario since 1892, making it one of the oldest Insurers in Canada.
Not only is maintaining a close relationship with our member Policyholders, Brokers and our Exclusive Agents important to us as a business, it's important to us because we are a long standing grassroots organization that is owned by its Mutual Policyholders and whose head office is located within our underwriting territory.
Grenville Mutual distributes our Insurance products in two ways;
The first is through a network of Insurance Brokers throughout Eastern Ontario. Our Brokers are independent businesses, selling for a variety of insurance companies, who have entered into a contractual agreement with Grenville, thus agreeing to provide you with the highest level of service and expertise.
We also have two Independent Exclusive Agents who sell for no other Property and Casualty Company other than Grenville.
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Line of Business
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Base Commission
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Farm Property/Liability
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20.0%
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Residential Property/Liability
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20.0%
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Commercial Property/Liability
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20.0%
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Automobile
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12.5%
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In both instances, our compensation policy is the same and very straight forward. We pay the following commission to your Broker or Agent, (based on a percentage of your premium before taxes).
Grenville Mutual also has a compensation agreement with Brokers and Agents called Contingency Profit Commissions ( CPC). This is not a guaranteed commission rather one that is only paid if sound and measurable business practices are being followed. Quality of business, and controlled portfolio growth are factors that can effect this commission.
The CPC is paid after the year end results are known, and in the year 2007 amounted to 2.4% of Grenville Mutuals gross premium income.
Grenville Mutual does not offer any other form of compensation, remuneration, loans, service fees, nor does it hold any equity in any Brokerage or Exclusive Agency that distributes our insurance products.
We have a long history serving our Policyholders in Eastern Ontario, and the fact that our Board of Directors comes from our Policyholders ensures that we maintain an exceptional level of accountability.
