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.
Greater Edmonton
Commercial Insurance Broker in Sherwood Park
Refinery Row contracts decide most of the insurance programs in Strathcona County, and the schedule attached to one is a specification rather than paperwork. This page covers how we treat it.
A large share of businesses here hold agreements with the operators around Alberta’s Industrial Heartland, and those agreements set limits well above what a company of that size would otherwise carry, along with additional insured status and wording a general package leaves out. Alongside that sits an ordinary retail and services economy on Baseline Road needing none of it. Selling both the same program is the mistake we see most. Velocity reads the contract first and builds from there, or leaves it out entirely where there is no contract to read.
Why Owners Move
What we hear fromSherwood Park business owners.
01
I sent them a contract and nobody read it
The operator schedule is the whole brief for your program, and it gets filed rather than worked through. Pricing a job before anyone has costed compliance is how a profitable contract stops being one.
02
I found out at claim time that it was not covered
Care, custody and control is the exclusion that catches plant contractors, because a liability policy will generally refuse damage to the property you were hired to work on. Very few owners have ever had that pointed out to them by a broker.
03
I had to chase them for a certificate and nearly lost the job
A gate will not open without proof of insurance, and the request sits in a service queue while a crew waits. When the endorsements were set up properly at binding, that document takes minutes.
04
Nobody has ever asked what we do on site
Plant work, mobile equipment and a Baseline Road storefront are unrelated risks. Where nobody asked which one you are, the wording came off a template and the fit is a matter of luck.
Why We Stand Out
What you get insteadas our client in Sherwood Park.
- Proudly independent, with fourteen insurance partners behind you
- No insurer holds a stake here and none of them gets first refusal, so a contractor file goes to an underwriter who genuinely writes plant work. When a renewal comes back unjustified, thirteen others can look at it.
- Relationships, not transactions
- The same broker throughout, who already knows which operators you serve and what each one demands. No call centre stands between you and the person who set up your additional insured wording.
- Deep commercial expertise
- Twenty years across front-line underwriting, complex placements, hard-market renewals and claims advocacy. Care, custody and control, waivers of subrogation and cross liability are ordinary vocabulary here rather than something looked up on your file.
- Built around how you really operate
- The contract goes on the desk before anything is quoted, and the equipment list beside it. A Baseline Road business gets none of that machinery, because it does not need any of it.
- Explained in plain language
- What the operator is demanding, what you currently carry and precisely where the two fail to line up. You should be able to read your own schedule and know whether you satisfy it.
- Superior service, backed by advanced technology
- The technology behind the service was built in house and designed around people, not around a filing cabinet. Everything you would otherwise have to ask for, your policies, your certificates and your billing, is already waiting in a client portal. Speed matters here because your time does, and the software exists to protect it.
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, Sherwood Park included. Read them on Google
Common Questions
Choosing a brokerin Sherwood Park.
Is Velocity a Sherwood Park broker?
We are an Alberta brokerage working remotely across the province, and Strathcona County is one of the busiest parts of the book. Provincial licensing means the markets available to you are the same as anywhere else we write.
Who will be handling my account?
Mandy Stierman personally, from the first read of your contract onward. She negotiates the placement, issues the certificates and handles a claim if one arrives, without passing the file along.
What sets Velocity apart from a bigger brokerage?
Contract work punishes a broker who forgets the detail, and volume servicing is designed to forget it. Fewer files means the person on your account remembers which operator wants what, without looking it up each time.
You are independent. How do I know the price is competitive?
Fourteen insurance partners and no house insurer means the placement is contested every year and you see the results. A broker tied to one company can only bring you the number that company is prepared to write.
What happens at my renewal?
It is opened early and checked against the contracts you now hold, since those change more often than the business does. If the market should be tested we test it, and you see what came back.
How quickly do you respond?
Same business day for questions, and certificates as fast as we can once cover is bound. Where a crew is held at a gate over one, tell us and it moves ahead of everything else.
What does it cost to use a broker?
Nothing you pay us. Commission is paid by the insurer out of the premium and sits in the price with or without a broker involved. Going direct removes the negotiation and keeps the cost.
How easy is it to switch insurance brokers?
One broker of record letter moves it, same insurer and same premium, with nothing cancelled and no gap in cover. Your compliance with an operator contract is untouched throughout.
Could you review my current insurance program?
Yes, free and with nothing attached. Send the policy along with the operator schedules you work to, and Mandy will mark up where you comply, where you do not, and what the gap 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 Sherwood Park broker
How do you prefer to work through your insurance?
Related
Keep reading about Sherwood Park
28 pages
Related
Keep reading about Sherwood Park
More about insurance in Sherwood Park
Industries we cover in Sherwood Park
Further reading
From the blog
Guides
What an insurance broker does, and how one differs from an agent
A broker is not a price comparison service with a person attached. Here is the job as it is really done, who pays for it, what the law requires of it, and how to tell whether you are getting it.
Guides
Why your Alberta commercial insurance renewal went up
Three things move a commercial premium, and only one of them is about you. Here is how to work out which one moved yours, and which part you can do something about.