Aviva Canada has launched a cross-border insurance solution for Canadian domiciled companies with assets, exposures or plated vehicles in the United States.
On Thursday, the insurer announced the solution for Canadian domiciled companies that have physical assets, exposures or plated vehicles within the U.S. and require admitted paper.
Offered to a variety of industry sectors including manufacturing, warehousing, real estate and retail, the product offers the following benefits:
Fast quote turnaround time: most quotes are provided within one business day;
Coverage on U.S. admitted paper: meets all state regulatory requirements and avoids unnecessary U.S. tax implications of using non-admitted insurers;
Alleviates exchange rate fluctuations: values of U.S. property and assets are in U.S. dollars;
Continuity of insurer: brokers can maintain their relationship with Aviva as there is no additional licensing or contract requirements; and
Seamless: customers receive specialized coverage to meet their business needs. Brokers have a single point of contact at Aviva for an end-to-end solution, and benefit from Aviva’s consultative services on both sides of the border.
“Aviva offers a comprehensive and effective insurance solution that meets the special requirements of Canadian businesses with U.S. exposure,” said Mazdak Moini, vice president of Commercial Lines & Reinsurance with Aviva Canada, in a statement. “Aviva is making it easier for our broker partners to serve their Canadian domiciled clients with U.S. exposure by providing this market-leading cross-border solution.”
Aviva Canada provides home, auto, leisure/lifestyle and business insurance to more than three million customers. A wholly-owned subsidiary of United Kingdom-based Aviva plc, the company has more than 4,000 employees.