Peel Mutual's network of qualified insurance agents and brokers is there to provide you with local, knowledgeable and professional insurance advice and services. These brokers get to know you, your needs and your community.
We pay standard commissions to these brokers, and they may participate in Profit Sharing Programs. Our standard commission rates are:
- Automobile Insurance: 12.5%
- Farm Insurance: 20%
- Residential Insurance: 20%
- Commercial Insurance: 20%
Profit Sharing Programs
Agents and Brokers that meet certain minimum requirements for the amount of insurance they place with Peel Mutual are eligible to participate in Profit Sharing Programs. These Programs are offered to profitable agents and brokers in addition to the commission they earned in placing your business with us as a reward for helping us to meet our business objectives.
Typically, the total amounts paid out over the last few years to agents and brokers in the Profit Sharing Program has been less than 2% of written premium each year.
At times, our agents and brokers need other assistance – i.e. when they are looking to expand their operations, buy out shareholders, or invest in new technology. Our financial support in these cases consists of loans made at interest rates comparable to chartered institutional lenders.