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 St. Albert
Clinics, professional offices and condominium boards need a broker who has placed those risks before. This page covers how we handle St. Albert accounts.
The commercial base here is older and more professional than most of the Edmonton region, and the exposures are less dramatic and considerably more detailed. A medical clinic carries diagnostic equipment and patient records governed by the Health Information Act. A condominium corporation carries a statutory obligation and a replacement cost figure that goes stale without anybody noticing. Neither is served by a package policy chosen from a dropdown. Velocity places these with markets that write them, which is a matter of having done it before rather than shopping harder.
Why Owners Move
What we hear fromSt. Albert business owners.
01
They do not really understand my industry
A clinic sold a retail package has equipment breakdown missing and no cyber cover reflecting the records it holds. The premium looks fine right up until the moment the coverage is asked to do something.
02
I never speak to the same person twice, and they never know my business
Professional practices carry detail that takes time to learn, and a rotating account handler never gets there. You end up re-explaining your own regulatory obligations to whoever picked up.
03
My renewal just turns up as a bill
For a condominium corporation that is a genuine risk, because the replacement cost valuation ages out of date while the premium goes up. Boards discover the shortfall after a water loss, which is the worst moment to find out.
04
I can never get a straight answer about what I am covered for
Boards and practice owners have to explain the program to somebody else, whether that is owners at an annual meeting or a partner. That is difficult when nobody has explained it to you first.
Why We Stand Out
What you get insteadas our client in St. Albert.
- Proudly independent, with fourteen insurance partners behind you
- Nothing obliges us to offer your file to a particular insurer, so a clinic or a condominium corporation goes to a market that genuinely writes that class rather than to whoever is nearest.
- Relationships, not transactions
- You deal with the same experienced broker throughout, which matters more on a detailed file than on a simple one. There is no call centre, no queue and no annual reintroduction to your own account.
- Deep commercial expertise
- Over twenty years across front-line underwriting, complex placements, hard-market renewals and claims advocacy. Healthcare and condominium risks reward a broker who has read the wordings before rather than one meeting them for the first time on your file.
- Built around how you really operate
- We ask what the practice does, what equipment it depends on and what the board is obliged to carry, then build to that. Valuations get revisited rather than assumed, because that is where these files go wrong.
- Explained in plain language
- The coverage, the exclusions and the deductible structure set out so a board can put them to owners without a translator. Being able to explain your own program is part of the point of having one.
- Superior service, backed by advanced technology
- We build our own software, so an improvement lands when a client asks for it instead of whenever a vendor gets around to it. Your coverage, your documents and your invoices live in a client portal you can open yourself at any hour. The whole thing was drawn around how people think, which is rarer in this industry than it should be.
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, St. Albert included. Read them on Google
Common Questions
Choosing a brokerin St. Albert.
Do you serve St. Albert businesses?
Yes, regularly. It is one of the closest parts of the book to us and covers retail, professional offices, clinics, trades and condominium corporations. We work remotely, and meet in person when a board would rather do that.
Who will be handling my account?
Mandy Stierman handles it herself from start to finish. She places the file, services it and will present to a board where that helps. Nothing is handed to somebody less familiar with it after the sale.
What sets Velocity apart from a bigger brokerage?
Detailed risks suffer most from volume servicing. A clinic or a condominium file rewards a broker who remembers last year, and a small book is the only reliable way to get that.
You are independent. How do I know the price is competitive?
No insurer has a standing claim on the file, so it is tested against fourteen insurance partners and you see the outcome. That matters on specialist classes, where the spread between markets is much wider than on ordinary risks.
What happens at my renewal?
We look at it early and check the things that age badly, particularly building valuations and equipment schedules. If the market needs testing we test it and show you the alternatives with the reasoning.
How quickly do you respond?
Same business day for a question, and certificates as fast as we can once cover is bound. Board deadlines and annual meetings are worth telling us about in advance and we will work to them.
What does it cost to use a broker?
Nothing on top of the premium. The insurer pays a commission from what it already charges, so the cost is present either way. What you get is somebody who reads the wording before you have to rely on it.
How easy is it to switch insurance brokers?
A broker of record letter transfers the policy exactly as it is, with the same insurer, wording and premium, no cancellation and no gap. For a board that means no resolution to re-do and no coverage risk.
Could you review my current insurance program?
Yes, free of charge and with no obligation. Send the policy and any recent valuation, and Mandy will tell you whether the coverage matches the obligation and whether the numbers are still current.
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 St. Albert broker
How do you prefer to work through your insurance?
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