Guides
The broker of record letter, explained
Moving brokers and moving insurers are two different actions. Here is how a broker of record letter works.
Wood Buffalo, Northern Alberta
Commercial Insurance Broker in Fort McMurray
Wood Buffalo files tend to be high stakes and slow to settle, which makes it matter enormously who is still holding yours a year in. This page is about how we handle that, and why it matters here.
Two things make commercial insurance here unlike anywhere else in the province. Prime contractors in the oil sands set requirements a subcontractor satisfies before setting foot on site, and they are higher and more prescriptive than a business of that size would otherwise buy. Claims here, when they come, tend to run long and settle slowly. Both reward the same thing, which is one broker who knows the file and is still there at the end of it. Velocity is built to provide exactly that and very little else.
Why Owners Move
What we hear fromFort McMurray business owners.
01
The person who knew my file left
Staff turnover at a large brokerage is somebody else’s problem until it becomes yours. A half-settled claim or a contract renewal handed to a stranger costs weeks, and nobody hands over the context that lived in the last person’s head.
02
I sent them a contract and nobody read it
Prime contractor schedules run to real detail on limits, additional insured wording and sometimes umbrella requirements. If nobody works through it before you bid, the cost of compliance turns up after the price is already fixed.
03
Nobody has ever asked what happens when the crew leaves the yard
Heavy units working away from a shop sit outside what a property policy covers, and the equipment schedule is usually the biggest decision on a file up here. It only gets made properly if somebody asks where the machines spend the week.
04
My renewal just turns up as a bill
Regional catastrophe exposure has moved property pricing hard, and a renewal that nobody re-tested absorbs all of it silently. The first sign is a number, with no explanation of which part of it was avoidable.
Why We Stand Out
What you get insteadas our client in Fort McMurray.
- Proudly independent, with fourteen insurance partners behind you
- Nobody owns a piece of this brokerage, so there is no insurer with a standing claim on your business. That matters most in a region insurers price nervously, because a file that one underwriter will not look at can go to thirteen more.
- Relationships, not transactions
- The same broker from the first quote through to the last cheque on a claim. There is no service desk, no reassignment and nobody new to brief halfway through a settlement that has already run six months.
- Deep commercial expertise
- Over twenty years across front-line underwriting, difficult placements, hard-market renewals and claims advocacy. Advocacy is the word that earns its place here, because a long energy sector claim is won by somebody who knows how to push an adjuster.
- Built around how you really operate
- We start from the contract you have been handed and the equipment you really run. Nothing is assumed from the industry code, and if you pick up work with a new prime contractor mid-term, that is a call rather than a discovery.
- Explained in plain language
- What the schedule is demanding, what your policy currently does and where the two fail to meet, said without jargon. You should be able to read your own contract and know whether you comply with it.
- Superior service, backed by advanced technology
- We built our own technology because nothing on the market was designed for the way a Wood Buffalo operator works. Your policies, certificates and billing are in a portal you can reach from camp or from site, at whatever hour you are free. The design is human centred throughout, so the system carries the complexity and you do not.
Your Broker
Mandy Stierman · Founder & Principal Broker
Licensed Alberta broker · 20 years in insurance
Velocity Insurance Inc. is a proudly independent, female-led commercial brokerage founded and owned in Alberta. Mandy was formerly an Account Executive with Spruceland Insurance and is a member of the Insurance Brokers Association of Alberta.
What clients sayabout working with us.
★★★★★
“She took the time to explain everything clearly in a way that actually made sense… her rates were more than competitive, and the level of service she provided was truly exceptional. It’s so refreshing to work with a woman entrepreneur who is not only amazing at what she does, but also genuinely cares about her clients.”
TJ Aneca · a month ago · Google
Reviews come from clients across Alberta, Fort McMurray included. Read them on Google
Common Questions
Choosing a brokerin Fort McMurray.
Do you insure Fort McMurray businesses?
Yes, and northern Alberta is a familiar part of the book. We are an Alberta brokerage working remotely across the province, and provincial licensing means everything available to a client in the south is available to you.
Who will be handling my account?
Mandy Stierman, who owns the brokerage and does the work. She reads the contractor schedules, negotiates the placement and handles the claim if one comes. The same person is there in year three.
What sets Velocity apart from a bigger brokerage?
Turnover and volume. A large office loses the person who knew your file and replaces them with a queue. We are small on purpose, which is the only way the same broker is still on your account when a long claim finally settles.
You are independent. How do I know the price is competitive?
With fourteen insurance partners there is no default home for the file, so it gets shopped in earnest and you see the results. A broker tied to a single company has one number to give you and no way to test it.
What happens at my renewal?
It is opened early, because northern files take longer to place. We check what has changed in the operation and the contracts, decide whether to test the market, and show you the alternatives with our reasoning attached.
How quickly do you respond?
Same business day for questions, and certificates as soon as they can be produced once cover is bound. Where an underwriter is holding things up, you hear that from us rather than working it out from the silence.
What does it cost to use a broker?
Nothing you pay us. Commission comes out of the premium the insurer charges and is built into the price with or without a broker. Buying direct keeps the cost and loses you the advocate.
How easy is it to switch insurance brokers?
A single broker of record letter transfers everything as it stands, same insurer and same premium, with nothing cancelled and no lapse. Mid-term switching is routine, and your compliance with a site contract is unaffected.
Could you review my current insurance program?
Yes, free and with no obligation attached. Send the policy and any prime contractor schedules you work to, and Mandy will tell you where you comply, where you fall short and what the difference costs to close.
The Next Step
Talk to the brokerwho would handle your file.
Send us what you have and we will tell you what we would do with it. If we are not the right brokerage for your business we will say so on the first call.
Talk to a Fort McMurray broker
How do you prefer to work through your insurance?
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