How We Get Paid
This page explains how Qube Risk Services Ltd. (“Qube”) is compensated for the insurance products and services we provide.
Commissions and Compensation
Qube is a licensed insurance brokerage. We are paid commissions by the insurance companies and managing general agents (MGAs) we work with to arrange coverage for our clients. These commissions are typically fixed percentages of the premium paid for your insurance coverage and vary between 10% and 20%, depending on the insurer or MGA with which your insurance is placed. Commissions are included within the premium you pay and are not charged in addition to it.
Where permitted by law, we may charge a fee for services we provide. Any fee is disclosed to you before your coverage is placed.
When you purchase insurance through us, we confirm the name of the insurer or MGA whose product is being provided, our relationship with them, and whether commission is being paid and at what percentage — in accordance with the Financial Products Disclosure Regulation under British Columbia’s Financial Institutions Act and equivalent requirements in the other provinces where we are licensed.
Contingent Commissions
We do not currently participate in any contingent, volume-based or profit-sharing commission arrangements with insurers or MGAs. Should this change, we will update this disclosure.
Conflicts of Interest
Qube will always act in your best interests. We do not have an ownership interest, direct or indirect, in any insurer, and no insurer has an ownership interest in Qube. As a result, we will not be influenced to use a particular insurer over another, and will never have the possibility of financial gain from engaging in business with a particular insurer.
Questions
If you have any questions about our compensation structure, or would like specific details about the commission on your policy, please contact us at info@quberisk.ca.