Disclosure Statement

Last Updated: November 14th, 2024

As a RIBO-licensed brokerage, The 1057 Group Inc. is committed to transparency and fair treatment in all client relationships. We aim to provide clients with comprehensive information to make informed decisions regarding their insurance needs. Below are key disclosures required under RIBO guidelines:

1. Duty of Care and Role as a Broker

Our role is to act as an advocate on your behalf, providing professional advice tailored to your specific needs. We uphold the RIBO Code of Conduct and adhere to all Fair Treatment of Customers guidelines.

2. Compensation and Commissions

We receive compensation through commissions from the insurers with whom we place your insurance. Some insurers may offer contingent profit commissions based on the overall performance of our book of business with them. This compensation structure does not affect our commitment to placing your best interests first.

• We earn 12.5% commission on auto insurance
• We earn 15% - 20% commission on property insurance

3. Conflict of Interest and Ownership Interests

We disclose any direct or indirect ownership interests with insurers or related entities. If any third-party financial relationships, such as credit facilities with an insurer, exist, we disclose them here for your awareness:

• Currently, we do not have any conflicts of interest.

4. Sales Incentives

Our brokers may receive sales incentives such as bonuses, non-monetary rewards, or travel incentives for achieving certain sales targets. While these incentives encourage growth, they do not influence our obligation to act in your best interest.

5. Single or Exclusive Markets

In certain cases, we may have exclusive arrangements with specific insurers for particular types of insurance. If your coverage falls under such an arrangement, we will disclose it clearly at the time of your quote.

6. Premium Financing

If we provide access to premium financing options or if we have any financial affiliation with a premium financing company, we disclose this when we present quote options. Our commitment to providing fair options remains unchanged.

7. Record-Keeping and Access

We maintain comprehensive records of all disclosures and communications, available to you upon request. Our aim is to ensure that every client is fully informed at each stage of the insurance transaction.

8. Contacting Us

If you have any questions about this Disclosure Statement, please contact us at info@insboutique.com.

Thank you for your trust in The 1057 Group.