Premier endeavors to ensure that this Website is available 24 hours a day, however we will not be liable if for any reason this Website is unavailable at any time or for any period.

You are permitted to print and download applications, wordings and other related documents from this Website solely for the use in conducting business with Premier.

While Premier endeavors to ensure that the information on this Website is correct, we do not warrant the accuracy and completeness of the material on this Website. Premier may make changes to the material on this Website at any time without notice

Links to third party websites on this Website are provided solely for your convenience. Premier makes no representations as to the security, quality or propriety of any website which may be accessed through this Website.

Premier Standard Terms of Trade

Premier hereby grants to Broker the authority to solicit and receive insurance applications as provided below.  Premier may place such insurance policies, and perform necessary services in connection with such policies, subject to Broker’s compliance with the terms and conditions of this Agreement.

The parties agree as follows:

Independent ContractorBroker will not be an employee or agent of or represent either the insurance carriers or Premier as an employee or agent.  Broker’s relationship to Premier is that of an independent contractor.

No Binding Authority.  This Agreement does not grant authority to Broker to bind any insurance carrier, Premier or any of its principals.  Broker shall not quote, bind coverage, or issue, endorse or amend any policy obtained pursuant to this Agreement without express written authority from an authorized Premier representative.  Brokers should review in detail binders or policies to ensure they have what they require – Brokers should not assume that if they requested something in an application, that the terms will match the request.  Premier provides terms based on specific manuscript offerings not necessarily tailored to each bokers request.  Coverage should never be confirmed to the public until a Premier issued document confirming same coverage is in the Broker’s hand.

PRESTO – on line portal Terms.  The Broker may obtain quotations from Premier’s portal system.  The Broker may also obtain policies of insurance via the premier online system, subject to the terms and conditions on any one account pursuant to the documentation and output provided by the Premier system.   The Broker is not able to retroactive incept coverage in such system.

Compliance with LawsBroker shall comply with all laws, rules and regulations within the jurisdictions in which it accepts insurance business submitted to Premier under this Agreement.

LicensingBroker shall secure and maintain all licenses required by the jurisdictions in which it accepts insurance business submitted to Premier under this Agreement.  Broker shall, upon request, supply Premier copies of current licenses in force at the time this Agreement is entered into.  Broker shall forward to Premier the renewal of licenses, upon renewal of such licenses, as long as this Agreement is in force.

Payment of Premiums.  Broker shall be responsible for and guarantees to Premier the payment of all premiums and other charges due with respect to such policies placed by Premier for the Broker, including audit premiums, less the amount of commission due to Broker pursuant to the terms of the individual quotation.  Unless otherwise specified by Premier, all premium amounts owed by Broker to Premier shall be paid in accordance with the Credit Terms noted below.  Any credit extended to any insured by Broker shall be at the sole risk and responsibility of Broker.

Credit Terms:
Premier sends out account statements on a monthly basis within a few days of close of the month.  Payment is required back in Premier’s office by the 15th of the month following the effective date/transaction date, but the cheque can be post-dated to last banking day of that month. Please attach a copy of your monthly statement when you remit your payment.  Payment must be based on Premiers generated statement, not the broker generated statement.  Payments due are net of commissions.  NOTE – commission is earned on premium amounts, not on the flat policy fees.  If you feel the statement is incorrect, you will need to contact the Premier underwriter on the individual account for review, or contact accounting department to reconcile in advance of due date.

Commissions and Return CommissionsBroker shall be entitled to commissions as specified on an account by account basis.  Broker shall refund to Premier unearned commissions at the same rate as the commissions that were paid to Broker on return premiums due from cancellations or premium reductions.  In the event of such cancellation or premium reduction, Premier shall remit to Broker the unearned net premiums owed to insureds, and Broker shall reimburse the insured the unearned gross premiums due, including the amount of unearned commissions initially paid to Broker.

Cancellation CreditBroker shall be entitled to credit for any insurance policy Cancellation after satisfactory proof of such cancellation has been received by Premier.  No cancellation credit shall be allowed for any period during which coverage is effective under the terms of the applicable insurance policy or binder.  No insurance policy may be returned to Premier by Broker for flat cancellation unless it is returned prior to the effective date of the policy.  Notwithstanding the return of the original policy for cancellation, cancellation will not be effected until sufficient time has elapsed for proper notice to mortgagees, lien holders, loss payees, certificate holders, or other parties to whom such notice is required.

Notice of ExpirationPremier shall be under no obligation to give Broker advance notice of the expiration of any insurance policy which Broker procures through the facilities of Premier.

IndemnificationBroker shall indemnify and hold Premier harmless with respect to all claims, liabilities, costs and expenses including attorney fees, which Premier may become obligated to pay as a result of:

any act, error or omission of Broker in the connection with this Agreement or in the processing of
any business placed by Broker under this Agreement;

a. any action by Broker in violation of the terms of this Agreement;
b. any fines, penalties and related expenses as a result of Broker’s failure to secure and/or maintain appropriate licensing and/or appointments in the appropriate jurisdiction(s);
c. any fines, penalties and related expenses as a result of Broker’s failure to follow rules, regulations, and laws.

Broker’s obligations under this paragraph shall continue, irrespective of the termination of this Agreement.

Premier shall indemnify and hold Broker harmless with respect to all claims, liabilities, costs and expenses including attorney fees, which Premier may become obligated to pay as a result of:

a. any act, error or omission of Premier in the connection with this Agreement, except to the extent that the Broker caused the act, error or omission;

E&O Insurance CoverageBroker shall obtain and maintain at its sole cost and expense the following insurance policy covering its activities in connection with this Agreement:  Errors and Omissions Liability Insurance with not less than $1 million per claim policy limits with a $25,000 deductible or less.  Broker shall immediately notify Premier of any Errors and Omissions policy cancellation, non-renewal, reduction in liability limits or change in insurer.

Loss Notification.  The Broker shall promptly notify Premier of all losses.

Cooperation on ClaimsBroker shall cooperate with Premier and any insurance carrier, to the extent requested by Premier, in connection with the investigation and adjustment of any claim arising under any insurance policy placed by Premier for Broker.

Inspection of Records.  All records of Broker relating to any insurance policy placed by Premier for Broker shall be subject to inspection at any reasonable time by any designated representative by Premier.

Waiver of Breach.  No waiver by either party of any breach of this Agreement by the other party shall be deemed to be a waiver of any subsequent breach of the same or of any other provision.

Governing Laws.  This Agreement shall be governed by Canadian laws.