Canadian Underwriter

Keyword
Economical Insurance


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Insurer looking at automated underwriting solution

November 20, 2017 Jason Contant, Online Editor

Brokers placing coverage with Economical Insurance wanted the insurer to “clearly articulate [its] appetite and become competitive in specific areas,” so the insurer has created new core segments in small business, agriculture and transportation, and specialty lines. Matthew Buchalter, vice

News AppointmentsInsuranceMarkets / CoveragesProfessional Development

P&C people: Who’s doing what?

November 17, 2017 Greg Meckbach, Associate Editor

Economical Insurance has hired a new personal lines EVP, while The Guarantee Company of North America’s former chief executive officer is now a senior fellow for the C.D. Howe Institute. Economical welcomes MacDonald to the team Economical Insurance announced Tuesday

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Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News InsuranceMarkets / CoveragesTechnology

Canadian P&C brokerages prefer Facebook to communicate: Economical survey

November 1, 2017 by Canadian Underwriter

Canadian P&C insurance brokerages prefer Facebook to communicate with customers and prospects, according to 90% of respondents to a social media survey conducted this summer and released on Wednesday by Economical Insurance. The 2017 Pulse Check: Social Media Usage in

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

IBAO CEO panelists discuss brokerage acquisitions

October 27, 2017 Greg Meckbach, Associate Editor

Acquisitions by insurers “have had an impact on valuations” of brokerages, but the price a brokerage owner could get be selling the business is also affected by factors such as growth and profitability, insurance carrier chief executives suggested Thursday. “Insurer

News InsuranceLegislation / RegulationMarkets / Coverages

‘Clock is running’ as Economical Insurance prepares for public offering: Saunders

October 26, 2017 Greg Meckbach, Associate Editor

Economical Insurance is looking to “expand its appetite and capabilities into other segments” of the market as it prepares for an initial public offering, president and chief executive officer Rowan Saunders suggested Thursday to Ontario brokers in Ottawa, while Gore

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Collaboration leads to milestone achievement to define data exchange standards between companies, brokers

August 23, 2017 by Canadian Underwriter

The long-standing objective of standardized real-time data exchange between insurance brokers and companies has taken a big step forward with Tuesday’s announcement that initial testing of the process has been successfully completed. A team of players in Canada’s p&c insurance

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%

August 4, 2017 by Canadian Underwriter

Economical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written

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Economical launches data breach coverage for Canadian businesses

August 2, 2017 by Canadian Underwriter

Waterloo, Ont.-based Economical Insurance announced on Wednesday that it has launched EXPERT Cyber, coverage that is available to commercial policies for Canadian businesses in the event of a data breach. “Cybersecurity is a growing area of concern for businesses of

Feature AppointmentsTechnology

Easy Does It

July 17, 2017 Angela Stelmakowich, Editor

Alice Keung, Economical Insurance’s chief transformation officer, says a key lesson learned from working in various sectors is the need to focus on the customer perspective.

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Insurance Brokers Association of British Columbia annual conference and trade show, June 14 to 16, 2017

June 14, 2017 by Canadian Underwriter

Whistler provided a spectacular backdrop for the 69th annual Conference & Tradeshow of the Insurance Brokers Association of B.C. Highlights included: a gala dinner capped with a performance by Juno Award-winning R&B group The Philosopher Kings; a keynote presentation on

News InsuranceLegalLegislation / RegulationProductsProfessional Development

Economical Insurance simplifies its business with changes to legal entities

June 6, 2017 by Canadian Underwriter

Economical Insurance announced on Tuesday that it is “migrating to a simpler legal entity structure while continuing to offer a wide range of products and excellent service to broker partners and customers” as it continues its journey to become a