Financial Statements & Other Resources
Want to learn more about Algoma Mutual Insurance Co.? Find our media resources here, including our past financial statements.
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
Snowmachines and ATVs
Residential and Personal Property
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.