At Nick Godfrey Insurance, we take pride in the independent advice and service we provide to our clients. As a licensed insurance brokerage, we’re compensated in a few ways — primarily through commissions from insurers and, in some cases, fees paid by clients or third parties. The following explains how we are paid for our services.
Most of our compensation comes from commissions paid by insurance carriers.
Commissions are normally calculated as a percentage of the premium you pay to the insurer.
The insurer pays this commission to us for distributing and servicing your policy.
Commissions are included in your premium, so there is no separate charge to you.
This structure allows us to provide ongoing support, renewals, and advice throughout the life of your policy.
In some cases—such as complex or customized insurance programs—we may agree on a fee-for-service arrangement.
Fees are typically used when additional resources, products, or consulting services are required.
All fees are clearly outlined in a written proposal and approved by you before coverage is placed.
In some cases, we may receive both commissions and client-paid fees, which will always be disclosed to you in writing and in advance.
Examples include:
Business transition or succession consulting
Employee education programs
Specialized benefits or HR support services
We work with many respected Canadian insurers, Third Party Administrators (TPAs), and independent consultants.
While we have access to hundreds of insurance products, we focus on a select group of customer-centric carriers that consistently provide the best combination of value, service, and stability.
These trusted relationships help us deliver:
Competitive pricing and plan design flexibility
Reliable service and claims support
Access to innovative products and benefits solutions
More information about our Strategic Carrier relationships is available upon request.
We believe you should always understand how your broker is compensated.
Our goal is to earn your confidence through honesty, transparency, and professional service.
If you have any questions about our compensation—either in general or for a specific proposal—please contact:
📞 Nick Godfrey Insurance
Employee Benefits Specialist
Phone: 905-815-7186
Book a Call or visit our Contact Us page.