If you're asked to sign an Agent of Record letter, it is important that you understand what it means. Also known as an AOR, Letter of Authority (LOA), or Letter of Authorization, this letter is used by a new brokers for several reasons: Secure the client relationship; Block any competing benefits brokers from being engaged by the client; Direct any commissions to be paid to the broker; and, most importantly, Ensure that an insurance company is forbidden from providing a quote to any other broker. When you sign an AOR/LOA, the insurance broker would immediately send it to the insurance company so that they can arrange for commissions to be paid, as well as quotes to be released to that broker, and no other brokers. If you're asked to sign an AOR, always ask the new broker: What is the commission you will be paid in this case? Is that built into my premiums? So if your commission increases, will my premiums increase? What will you be doing with this letter? Does this terminate my existing broker relationship? Also, ask your current broker: Does signing an AOR with a new broker jeopardize my existing relationship(s) with any of my insurance carrier(s)? Does this put me at risk in any way? Would you be able to provide or match the services of the new broker? If you have any questions on this or other insurance forms and inquiries, do not hesitate to contact us at contact@eddiechui.com .

Starting January 1st, the Alberta government has implemented new changes that will affect every driver and insurance company in Alberta What's changing? In a nutshell, if you're in a collision, the insurance company to pay for the covered damage to your vehicle will be your own insurance company and not someone else's no matter who was at fault. The DCPD (Direct Compensation for Property Damage) will provide this protection for you. It will cover the damage inflicted from the other insured driver if they are found to be at fault. This new coverage will automatically be added if you already have auto insurance in Alberta so you don't have to do anything to get it. What's staying the same? Even with the new changes, many things are the same as before. Establishing who is at fault is still important to determining if you will pay a deductible, whether your premium will be affected due to the collision and determining which coverage the claim is paid under. Your premium won't be affected if you weren't at fault by the collision, just like before. How injury claims are paid or your rights to compensation won't be changed with the new coverage.