Client Disclosure Statement

Licensing and Regulatory Status

Switch Broker Network is a licensed insurance brokerage authorized to transact insurance business in one or more provinces and/or territories of Canada.

All insurance activities are regulated by the applicable provincial or territorial insurance regulatory authorities, including but not limited to:

• Financial Services Regulatory Authority of Ontario (FSRA)
• CISRO Principles of Conduct for Insurance Intermediaries
• RIBO Fact Sheet: About Your Insurance Broker
• Alberta Insurance Council (AIC)
• British Columbia Financial Services Authority (BCFSA)
• Nova Scotia Superintendent of Insurance

License details are available upon request.

Nature of Our Relationship With You

We act as an insurance intermediary and, unless otherwise disclosed in writing:

• We act as your broker and represent your interests in placing insurance.
• We provide advice based on the information you provide.
• We access insurance products from insurers with whom we have contractual relationships.

We do not guarantee that all insurers or all available products in the marketplace are accessible through our brokerage.

Market Representation

We maintain contractual relationships with multiple insurers. The number of insurers and products available may vary by line of business, geographic location, and risk characteristics.

A current list of insurers we represent is available upon request.

Where we provide quotes from a limited number of insurers, we will disclose this to you upon request.

Compensation Disclosure

Commission

We receive commission from insurers for placing and servicing your insurance policy. This commission is included in your premium and is not an additional charge unless otherwise disclosed.

Typical commission ranges are as follows:

• Personal Automobile: 10% – 12.5%
• Personal Property: 15% – 20%
• Commercial Lines: 10% – 20%

Commission levels vary by insurer, product, and other factors.

Contingent / Supplemental Compensation

We may also receive contingent or supplemental compensation from insurers. This compensation may be based on:

• Profitability (loss ratios)
• Volume or growth of business
• Retention levels
• Portfolio performance or other business metrics

This compensation is not guaranteed and is paid at the discretion of the insurer.

Fees

In certain circumstances, we may charge broker service fees. Any such fees will be disclosed to you in advance and itemized separately.

Ownership, Insurer Relationships, and Conflicts of Interest

Switch Broker Network may have financial relationships with insurers, including ownership interests or volume-based agreements.

Where such relationships could reasonably be perceived as a conflict of interest, we will disclose them.

We maintain policies and procedures designed to ensure that client interests remain the primary consideration of all recommendations.

Suitability of Coverage

Our recommendations are based on the information you provide us with.

We do not:

• Independently verify all information provided.
• Guarantee that coverage selected is sufficient in all circumstances.

It is your responsibility to ensure that:

• Coverage limits are adequate.
• Policy terms meet your needs.
• You fully understand your insurance protection.

We recommend periodic reviews of your coverage.

Client Duty of Disclosure

You are required to disclose all material facts relevant to your insurance risk.

A “material fact” is any information that could influence an insurer’s decision to provide coverage or determine premium.

Failure to disclose or misrepresentation may result in:

• Denial of a claim
• Cancellation or voiding of your policy

Policy Review and Documents

You are responsible for reviewing all insurance documents, including:

• Applications
• Policy wordings
• Declarations pages
• Endorsements

Any discrepancies or concerns must be reported promptly.

Claims Process

In the event of a claim:

• You must notify the insurer promptly.
• You may contact us for assistance.

We act as an advisor and facilitator; however:

• The insurer is solely responsible for claim adjudication.
• Coverage decisions are made by the insurer in accordance with policy terms.

Complaint Resolution Process

If you have a complaint:

1. Contact our office: info@switchbrokernetwork.ca.
2. Escalate to brokerage management if unresolved.
3. Contact the insurer directly.
4. Contact the applicable provincial regulator.

For full details, see our complaint process. You may also contact the General Insurance OmbudService (GIO): www.giocanada.org

Limitation of Liability

To the extent permitted by law, Switch Broker Network shall not be liable for:

• Losses arising from incomplete or inaccurate information provided by you.
• Coverage gaps resulting from failure to review or request changes.
• Insurer decisions regarding underwriting or claims.

Nothing in this section limits liability where prohibited by law.

Continuing Disclosure

This disclosure applies to all current and future transactions unless updated. We will notify you of material changes where required.

Client Acknowledgement and Consent

By signing below or by proceeding with the purchase, renewal, or modification of insurance coverage through our brokerage, you:

• Acknowledge receipt of this disclosure.
• Confirm that you have read and understand its contents.
• Consent to the practices described herein.