Disclosure statement

Steer is a privately held, independent Canadian insurance broker. No insurer owns shares in our company. We have no commitments or special financial arrangements to maintain or increase insurance premiums with any insurer.

OUR STATEMENT ON SERVICES PROVIDED:

Our role is to provide you with the best insurance value combining coverage, service and price. We offer personalized, quality service that includes professional insurance advice, ongoing policy maintenance and claims support. When any issue arises regarding your insurance coverage, we are your advocates, using professional experience to best represent your individual interest.

OUR STATEMENT ON BROKER CONTINGENT (PROFIT) COMMISSION:

In order for us to maintain strong relationships with quality insurers, we work with each to provide the type of business they desire. Our contracted insurers recognize our efforts through a contingent commission contract. Payment of contingent commissions is not guaranteed and may depend on profitability, volume, retention and growth. For detailed information on contingent commissions, please refer to each insurance company’s website.

OUR STATEMENT ON OWNERSHIP AND FINANCIAL LINKS:

No insurer owns shares in Steer. We DO NOT have any loans from an insurance company that would require us to maintain or grow the premiums with any market.

Our disclosure statement is updated annually and is made in the best interests of customers. We also encourage you to review the commitments stated by individual insurance companies and related associations by consulting their websites or accessing other available sources.

Steer Inc.
2020

SUMMARY OF BROKER COMPENSATION

INSURER
(as % of premium)

COMMERCIAL LINES

Auto

COMMERCIAL LINES

Property & Casualty

Affiliated FM Insurance Company N/A 10 to 15
AIG 7.5 to 14 12.5 to 20
Allianz Global Risks N/A 12.5 to 15
Arch Insurance Group 7.5 to 12.5 12.5 to 15
AVIVA Insurance Company of Canada 7.5 to 12.5 10 to 15
Axis Reinsurance Company 7.5 to 12.5 10 to 15
Beazley Group N/A 10 to 20
Berkley Canada N/A 10 to 17.5
Birkshire Hathaway Specialty Insurance N/A 15 to 17.5
The Boiler Inspection and Insurance Company.  Munich RE. N/A 10 to 20
Chubb Insurance Company of Canada 7.5 to 12.5 15 to 20
CFC Underwriting N/A 10 to 15
Everest Reinsurance N/A 12.5 to 20
Factory Mutual N/A 10 to 15
Global Aerospace N/A 10 to 15
Great American Insurance Group N/A 10 to 15
Guarantee Company of North America 7.5 to 12.5 10 to 15
HDI Gerling 7.5 to 12.5 10 to 15
Intact Insurance Company of Canada 7.5 to 12.5 10 to 20
Liberty International Underwriters Canada N/A 15 to 20
Lloyd’s of London N/A 10 to 20
Markel International N/A 10 to 20
Nextwave Insurance Services N/A 10 to 20
Premier Marine N/A 10 to 15
RSA – Royal & Sun Alliance Insurance Company of Canada 7.5 to 12.5 10 to 20
Southwestern Group 7.5 to 12.5 10 to 15
Strategic Underwriting Managers Inc. 7.5 to 12.5 10 to 20
Travelers (St.Paul), Dominion 7.5 to 12.5 12.5 to 20
Trisura Guarantee Insurance Company N/A 10 to 15
XL Catlin Insurance Company Ltd. N/A 12.5 to 15
Zurich Canada 7.5 to 12.5 15 to 20

NOTE:  Occasionally, Steer will place insurance with other licensed Canadian insurance companies or a Managing General Underwriter that is acting on behalf of one or more licensed Canadian insurance companies.  If you have not been separately advised of Steer’s commission arrangement with those companies, please contact our Controller at 416-366-1141.