NBS 2020 Broker principals reveal their favourite way to pay producers
October 16, 2020 by David GambrillIn the dog-eat-dog world of trying to generate sales during a global pandemic, brokerage principals are increasingly turning to performance-based compensation to help improve the performance of their brokers, according to Canadian Underwriter’s 2020 National Broker Survey. Of the more…
Brokers give performance-based pay a thumbs-up
November 6, 2018 by David GambrillThis story is one in a series reporting on the results of 2018 National Broker Survey, conducted by Canadian Underwriter. The survey of more than 800 P&C brokers nationally was designed to identify the success strategies of both producers and principals. Find other instalments in the…
The case for paying brokers on a 100% commission basis
October 30, 2018 by Jason ContantBrokers in favour of performance-based compensation point to its benefits in promoting customer service to clients. At Surex Direct, a Magrath, Alta.-based online brokerage that is 100% commission-based, customer service is key, said Ryan Kirk, vice president of operations for…
Why this brokerage doesn’t focus on performance-based compensation
October 22, 2018 by Jason ContantCreating competition in the workplace is not a good environment for growing teamwork and is one of the reasons an independent insurance brokerage in Nova Scotia doesn’t focus on performance-based compensation. “Our notion on compensation is that we are trying…
Aviva ordered to pay $3.3 million in compensation to Catholic diocese
October 21, 2018 The Canadian PressFREDERICTON – New Brunswick’s Court of Appeal has ordered an insurance company to pay over $3.3 million to the Catholic Diocese of Bathurst to cover the cost of compensation for decades of sexual abuse by priests. In a ruling released…