February 22, 2007 by Canadian Underwriter
Portage la Prairie Mutual Insurance Company has increased its investment in the 2007 Broker Identity Program (BIP), established in 1989 by the Insurance Brokers Association of Canada (IBAC).
The BIP program is a branding campaign for over 30,000 insurance brokers. Twenty leading insurance companies supported the program in 2006.
While no figures were released, Portage Mutuals investment will move it from the “supporter” level to “full partner” level in the BIP program.
The centre-piece of the BIP program is the BIP symbol, known as the BIPPER. The icon symbolizes the value that insurance brokers bring their clients: coverage and security.
By investing in the (BIP) program, Portage Mutual supports the message being delivered every day to consumers, legislators, government officials and regulators, IBAC said in a press release.
We are proud to invest in a vehicle that allows insurance brokers from across Canada to speak with a united voice when dealing with decision makers, said Randy Clark, president and CEO of Portage la Prairie Mutual Insurance Company. In addition, the BIPPER is recognized in the marketplace as the main distribution channel that consumers trust when it comes to all their insurance needs. We are proud to support brokers.
IBAC CEO Dan Danyluk added: The increase in investment from Portage Mutual is an acknowledgement that insurance brokers speak with a united and coherent voice when issues affecting the profession are discussed with political leaders and regulators. The company has a long and well-established history and is a valuable partner to its brokers.
InspekTech Online Inspections Inc. (InspekTech) of Burnaby, B.C., a provider of property verification and valuation services to the insurance and financial industries, has completed its acquisition of QA Inspection and Appraisal (QA).
InspekTech president Murray Blair-Speirs said the acquisition represents a significant step forward in InspekTechs vision to become the largest and most comprehensive loss control service providers in Canada, with inspections covering all types of residential, condominiums, commercial offices, restaurant and food services and manufacturing properties.
The company also announced that David R. Pugsley, the founder of QA, has agreed to continue developing the commercial products services and solutions with InspekTech. Pugsley will be heading the commercial quality control and training division.
Pugsley has been involved in the loss control industry for more than 20 years. He has trained commercial inspectors for three major loss control providers.
He will be handling the amalgamation of the QA solutions, including the advanced residential and commercial sprinkler inspection system, and the product manufacturing liability reporting system that enables InspekTech agents to perform managed investigations of manufacturing operations from raw-material through to finished product delivery.
With insurance industry analysts warning that many residential and commercial properties are under-valued for loss replacement, often by 27-50%, more and more companies are turning to InspekTechs technologies solutions for greater risk control, InspekTech said in a press release.