Financial Statements & Other Resources
Want to learn more about Algoma Mutual Insurance Co.? Find our media resources here, including our past financial statements.
- 2019 Financial Report View Document
- 2018 Financial Report View Document
- 2017 Financial Report View Document
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.