Economical publishes 2016 public accountability statement
May 18, 2017 by Economical Insurance
WATERLOO, ON, May 18, 2017 — The 2016 Public Accountability Statement for Economical Insurance is now online and available for download. It provides a snapshot of our social responsibility efforts through financial contributions, charitable giving, respect for the environment, and support for our employees, brokers, and customers.
“We’re a company with big aspirations. We have a clear vision, strong values, and an innovative strategy that positions us for future growth and continued success,” said Rowan Saunders, President and CEO of Economical Insurance. “The belief that we’re stronger together directs our path, guides our decisions, and roots us in our communities.”
We made a difference by giving back nearly $1.2 million in charitable donations and sponsorships in communities all across Canada last year. Our employees also contributed more than 3,800 volunteer hours during the work week to causes that matter to them.
Community initiatives that matter to our broker partners matter to us. In 2016, 35% of our sponsorships and donations were in association with our brokers across the country. From purchasing much needed equipment at community hospitals to supporting a local camp, partnering with our brokers to enhance their communities is a priority for us.
We bring our best to work every day and are proud to have been recognized as the 2016 P&C Insurer of the Year by Insurance Business magazine and one of Waterloo Area’s Top Employers for 2017 by Canada’s Top 100 Employers. Putting the customer at the centre of everything we do, we enjoy a 93.3% customer satisfaction rating from our policyholders after filing a claim.[1]
At Economical, we have a high performing culture that fosters a respectful and inclusive environment where our people are highly-valued. We’re proud of our diverse workforce that strengthens our business through an array of perspectives and experiences, and understands the wide-ranging needs of our customers.
Our environmental sensitivity efforts continue to yield progress. We are raising awareness of environmental sustainability within the company nationally, and we identify, investigate, and act to reduce pollution, waste, and consumption of resources. For example, we regularly consider the environmentally-friendly practices of potential vendors in our selection process. In Kitchener-Waterloo, we’ve diverted close to 80% of our operational waste in 2016 from landfill.
About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.1 billion in annualized premium volume and more than $5.4 billion in assets as at March 31, 2017. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.
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For further information, contact:
Doug Maybee, Manager, Public and Media Relations
(T) 519.570.8249
[1] Percentage based on 91,254 Economical claimant survey responses measuring customer satisfaction with claims services from January 2007 to December 2016.
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