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Broker's Compensation

Algoma Mutual has contracts with independent Brokers.

Brokers are compensated in the form of a commission payment calculated as a percentage of your insurance premium. Brokers are obligated to disclose their commission earnings on a client's policy, if so requested.

The following is a breakdown of the commissions paid by Algoma Mutual to contracted Brokers:

 

Private Passenger Automobile 12.5%

Commercial Automobile 20%

Snowmachines and ATVs 10.0%

Residential and Personal Property 20.0%

Commercial Property 20%

Farm Property 17.5%

 

Contingent Profit Commisions (CPC)

As part of our brokerage contract, we recognize Broker profitability through a Contingent Profit Commission (CPC) program. Receipt of a CPC payment is entirely dependent on the overall profitability of the business submitted by a Broker. Therefore, this commission is not guaranteed to any Broker.