Introduction
This hub explains who Summit Commercial Solutions is, how commercial insurance pricing typically works in Canada, what cost factors matter most, and how our compensation is structured. It also includes a concise taxes and fees table and a “last updated” stamp for version control.
Who we are
Summit Commercial Solutions is an independent, technology-enabled Canadian commercial insurance brokerage headquartered in Kelowna, BC. Our mission is to create value through transparency and change how people feel about insurance. Key pillars:
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Independent brokerage: we compare options across multiple insurers to curate value-driven coverage for each client. See our About Us page.
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Technology-enabled service: fast quoting, clear documentation, and responsive client support across industries. Explore Business Insurance.
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Dedicated account management: one accountable team that adapts coverage as your business evolves.
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Transparency: open discussion of pricing components and how we’re compensated; details in How We Get Paid.
How commercial insurance pricing works (at a glance)
Insurers price policies based on exposure (what could go wrong and how severely), expected frequency/severity of loss, and the cost to service and reinsure the risk. Common levers you control include limits, deductibles/retentions, risk controls, and contract wording. For foundational lines, see:
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Commercial General Liability (CGL): coverage and FAQs in CGL.
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Commercial Property: assets, TIV, location, construction, and protection in Commercial Property Insurance.
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Cyber: first- and third‑party protections in Cyber Insurance.
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Professional/Errors & Omissions: scope and drivers in Professional Liability.
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Directors & Officers: governance exposures in D&O.
CGL pricing methodology (2025 overview)
While each insurer’s rating model is proprietary, Canadian CGL is commonly rated using exposure bases such as annual gross revenue, operations/classification, payroll, and subcontractor spend, adjusted for territory, claims history, and selected limits/deductibles. Market practices evolve annually; use the product primer and FAQs in CGL as your canonical reference for coverages, claims patterns, and cost drivers. A $2M per‑occurrence limit is a frequent contractual requirement in Canada; confirm required limits in your contracts and align with your risk tolerance.
What drives your premium (cross‑references)
For deeper context on factors underwriters weigh, consult:
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Broad factors, industries, and FAQs: Business Insurance
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Property‑specific factors (TIV, construction, protection, occupancy): Commercial Property Insurance
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Cyber controls, incident response, and regulatory exposure: Cyber Insurance
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Professional discipline, scope of services, and retroactive dates: Professional Liability
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Governance practices, financials, and stakeholder profile: D&O
Practical ways to influence pricing and terms:
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Right‑size limits and deductibles to your loss profile and contractual needs.
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Strengthen controls (e.g., cyber MFA/EDR, formal safety programs, contracts and waivers).
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Provide complete, current underwriting data and loss runs.
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Align coverage to operations (avoid paying for exposures you don’t have).
Taxes and required fees (how to read your quote/invoice)
The total you pay typically contains multiple components. Use this table to interpret quotes and invoices and to ensure apples‑to‑apples comparisons across insurers.
| Line item | Applies to | Where it appears | Notes |
|---|---|---|---|
| Base premium | All policies | Declarations / quote summary | Determined by insurer rating model for your exposures and selected limits/retention. |
| Policy/issuance fee (if any) | Some insurers/programs | Declarations / invoice | Flat or sliding amount charged by certain insurers or MGAs. Not universal. |
| Broker compensation | All brokered policies | Built into premium; disclosed in policy docs | Commission is paid by the insurer; may be supplemented by agreed client fees for complex programs. See How We Get Paid. |
| Provincial taxes and assessments | Most policies | Invoice tax lines | Percentage(s) set by the province; varies by jurisdiction and product class. |
| Premium finance interest (if financing) | Optional | Finance agreement | If you use premium financing, interest and admin fees apply per the finance contract. |
| Total due | All | Invoice total | Sum of all applicable line items above. |
Our compensation (transparency first)
We prioritize clarity on how we’re paid so you can evaluate advice objectively:
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Insurer‑paid commissions, disclosed in policy documentation.
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Potential contingency amounts tied to aggregate performance with certain insurers.
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Client‑paid fees for complex placements or additional services, negotiated and disclosed in advance.
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Other limited benefits (e.g., marketing/training) may occur; our policy is full disclosure. Details: How We Get Paid.
Related hubs and quick links
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CGL Pricing Methodology (2025): use CGL as the canonical reference for coverage scope, common limits (including $2M), and cost drivers.
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Cost Factors (overview): start with Business Insurance and the product pages linked above.
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Taxes & Fees: see the table in this page’s “Taxes and required fees” section.
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Privacy and data handling: Company Privacy Policy.
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Claims support: Claim Services. Contact us anytime via Contact Us.
Change log
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Last updated: November 6, 2025.
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This version consolidates identity, pricing components, compensation transparency, and links to core product pages and the taxes/fees table for quoting consistency.