Insurance Brokers FAQs

Frequently Asked Questions

Common Inquiries from Insurance Brokers

Frequently Asked Questions

Common Inquiries from Insurance Brokers

What services and benefits does PBNet provide?

As a member of PBNet, you’ll also have access to:

An equity partnership with our broker network for a minimum of three years;
Direct contracts between you and multiple insurance companies;
The backing of a $200M+ network that has launched over 80 successful brokerages into the Canadian marketplace;
Principal Broker/Designated Individual Services;
A comprehensive broker management system;
Technology systems and supports;
Extensive, ongoing training for you and your staff;
Industry-leading commission rates including sharing Contingent Profit Commissions;
Access to Group Errors & Omissions Insurance for your brokerage.

How many brokers buy out PBNet’s equity shares?

About 10% of our broker clients buy out their equity shares; this is largely due to retirement.

What are the business terms for the partnership?

Business terms are customized to each partner. Once an NDA is signed, we will have a full and open disclosure of these terms. However, these terms are generally based on PBNet holding a minority equity share for three years. After this point, the broker has the option to buy out the share.

How long is the process to launch a brokerage?

The process to launch a brokerage varies based on whether you’re coming from a direct seller or a broker. There are certain steps that can’t be triggered until the separation is formally documented. However, once a brokerage is licensed with RIBO, most offices are operational within six weeks.

Am I required to have a physical office location?

We do not have a standard requirement for a physical office location. We work with everyone to understand what their vision is for their brokerage and how their desired setup will maximize their success.

What if I want to leave PBNet?

As a member of PBNet, your contract specifies an equity partnership with our broker network for a minimum of three years. Following this three-year period, you have the option to continue partnering with PBNet, buying out your equity position at fair market value or selling to a third party acquirer. We won’t stand in your way.

Do you offer any bridge financing issues or facilities for start-up brokers?

We can leverage our long-standing relationships with financial institutions and insurance companies to provide various financing options.

Is PBNet more interested in agents or existing brokers as partners?

PBNet welcomes any insurance agents and brokers that have a proven track record of successfully running their own office and the capacity and capabilities to become a brokerage owner-operator.

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What are the requirements to qualify as a PBNet partner?

To qualify as a PBNet partner, you must have a minimum of five years of experience in an insurance agency or a brokerage. You must also have an office and a business phone.

Why Did Our Broker Partners Choose PBNet?
"I have had the pleasure of being part of PBNet for 15 years. As a producer at heart, one of the aspects I appreciate most about PBNet is the robust IT support they provide. This has allowed us to focus on our core task - expanding our brokerage. We chose PBNet because of the balance and freedom it offers. As entrepreneurs, we are given the space to plan, invest, and execute our own individual and unique vision. The combination of autonomy, independence, and exceptional back-office/IT support is unmatched. It’s an environment that empowers us while ensuring we have all the support we need to prosper."

- Ernie Tolgyesi, PBNet Partner since 2008, Dorey & Tolgyesi Insurance Brokers Ltd

Why Did Our Broker Partners Choose PBNet?

Ernie Tolgyesi, PBNet Partner since 2008, Dorey & Tolgyesi Insurance Brokers Ltd

“I have had the pleasure of being part of PBNet for 15 years. As a producer at heart, one of the aspects I appreciate most about PBNet is the robust IT support they provide. This has allowed us to focus on our core task – expanding our brokerage.
We chose PBNet because of the balance and freedom it offers. As entrepreneurs, we are given the space to plan, invest, and execute our own individual and unique vision. The combination of autonomy, independence, and exceptional back-office/IT support is unmatched. It’s an environment that empowers us while ensuring we have all the support we need to prosper.”

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