Praesto Presto Limited provides wholesale insurance to other insurance brokers and direct-to-consumer specialized insurance and surety bond products through an on-line portal.

With respect to direct-to-consumer insurance and surety products, we are compensated primarily in the form of a commission as a percentage of the premium.  That commission amount can range from 15% to 30%.  In some cases, we are also paid a contingency or supplemental amount in addition to the commission which can vary insurer by insurer.  Both commissions and contingency or supplemental amounts may be variable as a function of growth and/or profitability of a portfolio of business to the insurer or fixed in the form of reimbursement for direct costs incurred in originating or renewing bonds or policies.  Those direct costs can include securing credit reports (where disclosed and permitted), credit card transaction fees, and/or portal transaction fees.

From time to time we may charge or earn a fee which could be either in lieu of a commission, in addition to the commission, or collected via our portal at the time of policy issuance on behalf of a third party service provider (such as a lawyer, wholesale insurance broker or other insurance broker collaborating with us).  All fees will be clearly disclosed to you in advance of any purchase you may choose to make.

Praesto Presto Limited also acts as a wholesale insurance broker through which other insurance brokers may procure insurance policies on behalf of their clients, typically as a function of our unique specialty products and/or capacity.  In such cases both Praesto Presto Limited and the retail broker will earn and share the commission included in your premium payment.   If there are any fees charged in lieu or in addition to the premium we will clearly disclose those to you in advance of any purchase you may choose to make.

Praesto Presto Limited has a Principal Broker as required by our governing body, RIBO (Registered Insurance Brokers of Ontario):  neil.morrison@praestopresto.com who is responsible for adherence to applicable legislation and conduct of all licensed employees of Praesto Presto Limited.  You may contact him with any questions, comments or concerns whatsoever.