August 1, 2018 by Jason Contant
Wawanesa Mutual Insurance Company announced Wednesday that that it will sell its insurance products exclusively through independent Quebec insurance brokers, discontinuing direct sales to customers in the province.
With this move, Wawanesa will be selling solely through brokers in all of its markets across Canada.
The closing date of the transaction is targeted for Oct. 1. Effective that date, Wawanesa will discontinue direct sales of its residential and auto insurance and will instead distribute exclusively through 11 independently owned and operated insurance brokers located in communities across Quebec. At the same time, Wawanesa will introduce their commercial insurance products to the Quebec market through their new broker partners, the mutual insurer said in a press release Wednesday.
The 11 independent brokers include: AMR Assurances Multi-Risques, Assurancia Venne et Fille, Assurancia Gatineau, Bilodeau Couture Assurances, Bouchard & Associés Solutions d’assurances, Fort Assurances & Avantages Sociaux, Gaudreau Assurances, Gosselin Courtiers d’Assurances, Groupe LCD Assurances, Le Groupe LePelco and Assurances 3G.
A number of Wawanesa’s service offices will be converted to brokerage locations as part of the transition, the mutual insurer reported.
Wawanesa said that the transition will be “seamless” for current policyholders, with no changes to current policyholder’s insurance policies or coverage. Claims, underwriting and administrative activities will continue at the Quebec regional office in Montreal. The companies will communicate directly with current Wawanesa customers regarding the transition in their servicing.
With the transition in Quebec, Wawanesa said that it is the largest property and casualty insurance provider solely dedicated to distribution through local insurance brokers. Wawanesa products are available exclusively through insurance brokers in all of the company’s Canadian markets.
Wawanesa began operations in Quebec in 1931. To date, the company has written over two million insurance policies in Quebec and supports more than 45 Quebec charities and community organizations each year.