Insurable Interest Canadian Insurance Blog

New, premium-free policy endorsement reimburses clients to help them build to more resilient standards following a loss Guelph, ON (June 12, 2024) – The trend of climate change in Canada is clear. The direct impact to communities puts them at the forefront of this challenge and alone, they aren’t equipped to endure the effects that are no longer far off, but right at their doorstep. As a result, property insurance is getting costlier and insurance coverage gaps are increasing. In response to this, Co-operators is supporting its clients in reducing their risk and building their resilience in a rapidly changing world, at no additional cost to clients. Entering the market is a new insurance coverage: TomorrowStrong™. The value-added endorsement is unique to Co-operators and available on eligible Home and Farm policies with no added premium charge. The coverage is designed to support the company’s ongoing commitment to community resilience. It provides eligible policy holders with up to $3,000 for more weather resistant roofing upgrades and $1,000 for preventative loss measures like security systems, sump pumps, or surge protectors. “As insurers we have a responsibility to protect our clients and our communities. To do that we need to reimagine our approach...

By Segic — In the current HR landscape, companies face a major challenge: meeting the diverse needs of four different generations in terms of employee benefits and group insurance. It is crucial to adopt an integrated and flexible approach to designing benefits programs that address these varied needs. Consider the differences between a young employee of 20 and another of 55. For the former, mandatory insurances, dental care, or life insurance might seem less relevant, while the older employee might prioritize an enhancement of their insurances, placing less importance on additional benefits. Moreover, health issues evolve with generations: baby boomers often face physical health challenges, whereas younger generations are seeing an increase in mental health issues. These key points highlight the importance of a holistic strategy in employee benefits. In this context, adopting a global platform like Segic becomes a major asset. It allows not only for personalized and scalable responses to the diverse expectations of employees but also for the seamless integration of different aspects of benefits management. Indeed, Segic offers a complete and adaptable solution, capable of aligning with a company’s strategic goals while considering the specific needs of each generation within the workforce. Key Elements Meeting Employee...

Toronto, ON (June 12, 2024) – Navacord is pleased to reaffirm its commitment to the Ottawa region, with the expansion of two specialty brokers including Petrela, Winter & Associates, a construction specialist, and Jones DesLauriers, renowned for their expertise in commercial, auto dealerships, and technology segments. Effective May 29, Petrela, Winter & Associates, a Navacord Broker Partner since 2015 and leading specialty brokerage servicing the construction and real estate development industries, opened their newest office in Ottawa. Established in 1979, Petrela Winter has built a strong brand and reputation, offering specialized insurance, and bonding solutions and advice to contractors and developers across Canada. Located at 1545 Carling Avenue, Petrela Winter’s Ottawa office is now officially open for business, led by Alexander Petrela, alongside a strong team of seasoned risk advisors. Petrela Winter’s other office locations include Toronto, London, and Sudbury. “Ottawa is near and dear to us as some of our oldest client relationships that date back to the earliest days of our firm are based there. We’re immensely proud to be a part of the local community, and excited to build on our success there, working with the region’s construction and development community,” says Roy Ferreira, President and CEO...

Partnership marks Acera’s fourth deal in Ontario in 2024 Calgary, AB (Jun. 15, 2024) – Acera Insurance Services Ltd. continues to expand in Ontario and is pleased to announce its partnership with Dorey & Tolgyesi Insurance Brokers Ltd. of Kingston. This marks Acera Insurance’s fourth deal in Ontario so far in 2024, following partnerships with KRS Insurance Brokers Inc., Green Benefits Group and Dominion Group Benefits. “As a wholly independent and Canadian-owned brokerage, Acera Insurance is proud to stand out as a viable alternative to foreign investors and insurance-company owned aggregators,” says Bruce Rabik, Chief Operating Officer, Acera Insurance. “We are pleased to welcome partners like Dorey & Tolgyesi who are not willing to sacrifice independence in their pursuit of growth.” Dorey & Tolgyesi is the largest, independent brokerage in Kingston and has a second location in Bath. Co-founder Ernie Tolgyesi has been steadfast in maintaining a local independent broker channel since opening Dorey & Tolgyesi more than 15 years ago. “Acera Insurance is defending the true Canadian brokerage option,” says Tolgyesi. “While looking to grow, I also wanted to preserve real choice and impartial solutions for the people and businesses of Kingston and our surrounding communities. This made Acera...

Fremont, CA (June 25, 2024) – In an innovative new partnership, Car Super App Way.com and CURE Auto Insurance are teaming up to protect customers’ cars from damage due to hurricanes and tropical storms. In 2022, damage from Hurricane Sandy resulted in $36.8 billion in New Jersey alone. The initiative, called the Catastrophe Loss Mitigation program, is a white glove service from start to finish where customers in projected impact zones of severe hurricane and flooding events will be notified via phone alert, in advance of the storm, of a prepaid local parking garage reservation and credits for Uber transportation to and from dropping off their vehicle. CURE’s signing makes it the first to market, amongst auto insurers, for this type of hurricane and flood loss prevention. Three additional carriers have recently signed on to partner with Way for the program, and the team is hoping to add any other carriers wanting to help customers protect their vehicles against this avoidable loss. CURE’s Chief Operating Officer, Sean Albert, emphasized that there’s never been a more critical time than now to recognize that we can do better as an industry than solely focusing on a well-oiled disaster recovery plan. The headlines...