Disclaimer:

The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and GT Brokers Ltd. do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site. © GT Brokers.

Privacy Policy

Consent for the GT Brokers to use my PERSONAL INFORMATION

Please note that we record all telephone conversations, both inbound and outbound, that pass through our telephone system – this allows us to train our staff, monitor the quality of the interactions they have with you and assist in the resolutions of any complaints you might have about your work with us. If you do not wish a particular recording to be recorded or saved, please let us know before proceeding with the conversation so we can make the appropriate arrangements.

  1. PERSONAL INFORMATION
    In order to provide a product or service for a client, GT Brokers needs to collect certain personal information about the client.

GT Brokers will only collect, use and disclose personal information in such a manner that a reasonable person would consider appropriate in the circumstances.

  1. COLLECTION

Depending on the type of product or service to be provided, GT Brokers may need to collect some or all of the following information:

  • client name(s)
  • address
  • telephone/fax numbers
  • e-mail address
  • birth date
  • marital status
  • claims history
  • credit records
  • past payment records
  • financial information
  • medical information
  • driver’s record
  • property details such the value of a Client’s home and its contents
  • mortgage holders
  • employment information

 

 

  1. PURPOSES

Information collected may be used for the following purposes:

  • to enable GT Brokers to provide a policy or service to the client and assess his/her ongoing needs for service
  • to assess the Client’s need for and to offer other policies, products or services
  • to ensure that Client information is accurate and up-to-date
  • to protect GT Brokers and/or an insurer against inaccuracy of underwriting data.

 

  1. DISCLOSURE

GT Brokers may disclose Client personal information to the following third parties; But only as required to deliver products or services relevant to our work with you.

  • insurance companies
  • insurance brokers or agents
  • credit organizations
  • professionals working on behalf of GT Brokers or our clients such as: adjusters or lawyers, financial institutions or mortgage holders, medical professionals

 

  1. THIRD PARTY INFORMATION

When necessary to achieve the purposes outlined in #3, GT Brokers may obtain Client personal information from the following third parties:

  • insurance companies
  • other insurance brokers
  • credit organizations
  • mortgage holders
  • motor vehicle and driver licensing authorities
  • financial institutions
  • medical professionals

 

  1. CONSENT

The Client may give consent to the collection, use or disclosure of their personal information, expressly in writing or over the telephone or Royal Brokers may determine that consent has been implied by Client actions, such as applying for a policy.

 

  1. REFUSING CONSENT
    The Client may refuse to allow GT Brokers Ltd. to obtain, use or share particular types of personal information, or also withdraw a previously given consent at any time. However , depending on the type of services to be delivered, a refusal to provide consent or a future withdrawal of consent may result in GT Brokers being unable to provide some or all of the products or services.
  2. ACCURACY
    Clients must provide accurate and up to date personal information, so GT Brokers can properly advise or represent the Client and should inform Royal Brokers of any changed information immediately.

 

Disclosure:

GT Brokers Commission Disclosure – May 2018

  1. Professional Services we provide:

GT Brokers’s role is to provide you with the best insurance value that combines coverage, service, and price. We also provide personalized, quality service that includes professional insurance advice, ongoing policy maintenance, value-added business advisory services and 24-hour claims support. When any issue arises regarding your insurance coverage, we are your advocate and use our professional experience to best represent your individual interest.

  1. Our compensation for arranging Commercial Lines of Insurance:

GT Brokers Ltd., represent several insurers such as DFS (Desjardins Financial Security), Manulife Financial, Industrial alliance, Assumption Life, Foresters, RBC Insurance, Ivari Insurance, Great West Insurance, GMS Insurance, many other major insurance companies in Canada.

Brokerage compensation is typically part of your insurance premium. GT Broker’s agents will be paid an initial sales commission by the company that offers the product you choose.  Agents may also receive a renewal or service commission if you retain the product with the company.  Agents may also be eligible for additional compensation such as bonuses, or non-monetary benefits, such as travel incentives, depending on various factors such as the volume or persistency of business that is placed with a particular company during a given time period.

  1. What is Contingent (Profit) Commission, and how is it calculated?

In order for us to maintain strong relationships with such quality insurers, we work with each to provide the type of business they desire. Some insurers may recognize our efforts through a Contingent Commission contract, based on our whole book of business with them, not your individual policy. Payment of this Contingent Commission may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on behalf of the Insurer. There is no guarantee that GT Brokers will receive any Contingent Commission. For detailed information on specific Contingent Commissions, please go to the individual company’s website.

  1. The ownership of GT Brokers and the absence of other financial links.

GT Brokers is a privately owned company and does not have any financial links with any insurance companies. There is no direct or indirect ownership in GT Brokers by an insurer or financial conglomerate, and there are no loans, credit facilities or other financial relationships direct or indirect between GT Brokers Ltd. and any insurer or financial conglomerate. GT Brokers Ltd. is truly an independent brokerage, whose allegiance is to you our customer!

  1. To learn more about working with Insurance Companies

Our disclosure commitments are made in the best interest of consumers. We encourage you to also consult the commitments made by the insurance industry and individual companies by consulting their websites or other available information.

 

Limitation of Liability:

GT Brokers Ltd., (GT Brokers), its affiliates and related companies take no responsibility for the accuracy or validity of any claims or statements contained in the information, or related graphics of this site. Further, GT Brokers makes no representations whatsoever about the suitability of any of the information contained in the information or graphics on this site for any purpose. All such information and related graphics are provided without warranty of any kind. GT Brokers makes no representations whatsoever about any other Web site which you may access through this site. When you access a non-GT Brokers Web site, you understand and acknowledge that it is independent from GT Brokers, and that GT Brokers has no control over the content on any such Web site. In addition, a link to a non-Royal Brokers Web site does not mean that GT Brokers endorses or accepts any responsibility for the content, or the use, of such Web site. It is your responsibility to take precautions to ensure that whatever you select for your use by you is free of such items such as viruses, worms, trojan horses and other items of a destructive nature. IN NO EVENT WILL GT Brokers BE LIABLE FOR ANY DAMAGES WHATSOEVER, INCLUDING SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THE INFORMATION AVAILABLE OR REFERRED TO ON THIS SITE.