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The Financial Institutions Act requires that the information contained in this Disclosure Notice be provided to a customer in writing prior to the customer entering an insurance transaction.

Insurance Agent Disclosure:

Oasis Outdoor Adventure & Sport Insurance Solutions Inc. is licensed as a general insurance agent by the Insurance Council of British Columbia.

Insurance Company Name:

The insurance product or service being provided is underwritten by Lloyds of London.

Relationship between Licensed Agent and Insurance Company

Oasis Outdoor Adventure & Sport Insurance Solutions Inc has a contractual relationship with the Lloyd's of London to provide this product or service. There are no other financial or business relationships with Lloyd's of London.

Commission or Compensation

Upon completing this transaction, Oasis Outdoor Adventure & Sport Insurance Solutions Inc may be remunerated by way of commission and/or other remuneration from Lloyd's of London.

No Tied Selling

The Financial Institutions Act prohibits Lloyds of London or Oasis Outdoor Adventure & Sport Insurance Solutions Inc from requiring you to transact additional or other business as a condition of this transaction.

I have read the above terms and conditions and agree to proceed with the application.

Thank you for considering Oasis Outdoor Adventure & Sport Insurance Solutions Inc for your insurance needs. As part of our commitment to transparency and in compliance with the guidelines set out by the Registered Insurance Brokers of Ontario (RIBO), we are required to provide you with certain disclosures regarding your insurance transaction.

Please review the following important information:

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Disclosure of Interest and Relationships

As a RIBO-licensed broker, we are committed to ensuring you are fully informed about any potential conflicts of interest or financial relationships that may affect your insurance purchase decision. Below are the details relevant to your insurance quote:

• Ownership/Financial Interest Oasis Outdoor Adventure & Sport Insurance Solutions Inc does not have any financial interest/relationship with any of the insurance providers we represent.
• Commission Structure: We receive commissions for placing business with insurance companies. This commission is based on the premium paid and may include other compensation, such as contingent commissions, depending on the overall performance of the policies we place. Below are the commission ranges for the insurance providers we work with:
  • Certain Underwriters at Lloyds: 22.5% - 25%
  • XN Financial (Certain Underwriters at Lloyds): 20% - 25%
  • Travelers Insurance Company: 15% - 22.5%
  • Unique Risks: 15%
  • Special Risk Insurance Managers: 15%
  • CFC Underwriting: 20%
  • Premier Insurance Managers: 15%

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Further Information

We are also required to provide you with additional documents for your reference:

• CISRO Principles of Conduct for Insurance Intermediaries: This document outlines the principles guiding insurance intermediaries in their professional conduct.
• Fact Sheet About Your Registered Insurance Broker: This fact sheet explains the role of your broker and what you should expect.

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We value your trust and are committed to providing you with the best service. Should you have any questions or require further clarification regarding this disclosure or your insurance options, please do not hesitate to contact us at 1-866-979-2747 or send us an email at oasis@oasisins.ca.

I have read the above terms and conditions and agree to proceed with the application.

REPLACEMENT COST INSURANCE

If you have replacement cost insurance, your claim will cover the lesser cost of restoring items to their original condition or buying new items of like kind and quality to the ones lost; there will be no deduction for depreciation.

This means, if your 2-year old piece of machinery is totally damaged in a fire, the claims payment you receive will allow you to buy a machine with features as similar as possible to the destroyed model. Your policy limit on the machine must represent the cost of a new machine of similar kind and quality.

• Pro: With a replacement cost policy, the money you receive in a claims payment will allow you to adequately replace your lost item (New for old)
• Con: Premiums for replacement cost policies are generally higher than premiums for actual cash value policies as the limits have to be equal to a brand-new unit and not reduced for depreciation.

Oasis Insurance offers 3 years of replacement cost on portable equipment such as groomers, tractors from the date you purchase it new. This means you must keep your limit of insurance on that item at the new cost for the first 3 years and you will receive a replacement cost settlement on your claim.

ACTUAL CASH VALUE

If you have an actual cash value policy, your claims payment will be based on the cost of buying items in similar condition to the ones you lost; deprecation will be factored into your payment. For example, if your six-year-old tractor is damaged in a fire, we will determine the current value of that machine in its used condition and provide you with that amount as a payment.

• Pro: When calculating items at actual cash value, you’ll likely be charged a lower premium.
• Con: If you purchase new items to replace the ones you’ve lost, you’ll be on the hook for the difference between the insurance payout and the cost of a brand new item. Or, if you choose to replace with an older or used item, you may find it hard to find something satisfactory.