Disclosure on BCAA Insurance Corporation Products

British Columbia Automobile Association (BCAA) is committed to providing its members and clients with full disclosure and transparency on all insurance-related transactions, processes and procedures. To that end, BCAA is pleased to present the following information on insurance products underwritten by BCAA Insurance Corporation – specifically Home, Recreational Vehicle and Travel Accident insurance products.

There are three parties to an application for one of these types of insurance coverage:

  • the applicant
  • BCAA Insurance Corporation
  • BCAA Insurance Agency

Proposed transactions are between the applicant and BCAA Insurance Corporation – a provincially licensed insurer, regulated by the British Columbia Financial Institutions Commission.

BCAA Insurance Agency is responsible for facilitating proposed transactions. This role is carried out by individual insurance agents who are employees of BCAA Insurance Agency. All BCAA insurance agents hold a general insurance license as required by the Insurance Council of British Columbia.

BCAA Insurance Agency is compensated for facilitating insurance transactions by way of a commission paid by BCAA Insurance Corporation. Here is a breakdown of those commissions:

Product Commission on new policies Commission on renewed policies
Home insurance 25% 15%
Recreational vehicle insurance 15% 15%
Travel accident insurance 30% 0%

In some cases, BCAA Insurance Corporation may also pay a referral fee to a party unrelated to the transaction.

Disclosure on BCAA Non-Underwitten Products

The Financial Institutions Act requires that the information contained in this Disclosure Notice be provided to a customer prior to the customer entering into a financial transaction.

Auto Insurance

Proposed transactions are between the applicant and Royal & Sun Alliance Insurance Company of Canada (Advantage Auto policies) and the Insurance Corporation of British Columbia (Autoplan policies).

BCAA Insurance Agency is responsible for facilitating proposed transactions. This role is carried out by individual insurance agents who are employees of BCAA Insurance Agency. All BCAA insurance agents hold a general insurance license as required by the Insurance Council of British Columbia.

BCAA Insurance Agency is compensated for facilitating insurance transactions by way of a commission paid by Royal & Sun Alliance Insurance Company of Canada (Advantage Auto policies) and the Insurance Corporation of British Columbia (Autoplan policies).

Life Insurance and Health and Dental Insurance

Proposed transactions are between the applicant and The Manufacturers Life Insurance Company (Manulife Financial).

BCAA Insurance Agency is responsible for facilitating proposed transactions. This role is carried out by individual life advisors who are employees of BCAA Insurance Agency. All BCAA life advisors hold an individual life insurance license as required by the Insurance Council of British Columbia.

BCAA Insurance Agency is compensated for facilitating insurance transactions by way of a commission paid by The Manufacturers Life Insurance Company (Manulife Financial).

Pet Health Insurance

Proposed transactions are between the applicant and Western Financial Insurance Company.

BCAA Insurance Agency is responsible for facilitating proposed transactions. This role is carried out via e-commerce through a quote/purchase option online on BCAA’s website.

BCAA Insurance Agency is compensated for facilitating insurance transactions by way of a commission paid by Western Financial Insurance Company.

Travel Insurance

Proposed transactions are between the applicant and Industrial Alliance Insurance and Financial Services Inc. and certain Lloyd’s Underwriters, severally and not jointly.

BCAA Insurance Agency is responsible for facilitating proposed transactions. This role is carried out by individual insurance agents who are employees of BCAA Insurance Agency. All BCAA insurance agents hold a general insurance license as required by the Insurance Council of British Columbia.

BCAA Insurance Agency is compensated for facilitating insurance transactions by way of a commission paid by North American Air Travel Insurance Agents Ltd. d.b.a. Travel Underwriters, a licensed insurance broker.

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