Managing Conflicts of Interest

Priority of the Clients Interest

• An agent must not knowingly prejudice the interests of a client or consumer for personal gain.
• An agent must not take advantage of a client's or an insured's inexperience, ill health or lack of sophistication.
• An agent must be both candid and honest when advising the client or consumer.
• An agent must act with integrity, competence and the utmost good faith.

Disclosure of Conflict or Potential Conflict of Interest

• Methods of compensation - Commission Schedule
• Automobile 5-10 %
• Property     12.5-22.5%
• Liability      12.5-22.5%
• We do not offer any contingent profit commission or bonuses other than those offered in our commission schedule.

Product Suitability

• An agent should conduct fact finding appropriate to the circumstances and assessment of the client's insurance needs.
• Needs assessment should be flexible - the assessment should reflect factors including the underlying risk, the client's objective and complexity of the product being sold.
• An agent product recommendation should meet the client's needs.