About us
Broker compensation
Coachman Insurance Company sells its products through independent brokers who are committed to working in the best interests of the customer.
Representing a number of insurance companies, brokers provide professional advice and arrange for insurance coverage on their customer’s behalf. We believe this provides customers with the opportunity to choose the best value for their money.
Brokers receive commissions in exchange for services they provide which, in addition to providing professional advice and arranging insurance coverage, include tasks like processing midterm changes requested by their customers and assisting customers in the event of a claim.
The commissions we pay to brokers are based on a percentage of premiums written for the corporation.
Sales commissions
Property insurance:
- 20% standard personal and commercial
- 15% Directors and Officers Liability
Automobile insurance:
- 12.5% personal and commercial
Surety:
- 25 to 27.5% all bonds
Contingent commissions
Coachman brokers are eligible for a contingent commission when they write profitable business for the company. Contingent commissions are paid once a year and are based on the overall premiums and financial results generated by a broker for Coachman products and not on any particular account or group of accounts.
Coachman pays profit commissions which have averaged 1.35% of total premiums written.
Training and conferences
Brokers and their staff are invited to participate in training and entertainment events. Brokers pay a fee to attend the annual SGI CANADA Brokers’ Convention, which is primarily an educational event and includes social activities.