Complacency about real risks, such as an earthquake affecting Eastern Canada, present a “huge opportunity” for insurance providers to educate consumers, a former Economical Insurance CEO said Monday. “Human beings really don’t like thinking about the bad things that could…
If Economical Insurance gets permission to demutualize, it is “likely” the company will attract interest from a large insurer as a potential takeover target, an investment analyst predicts. “A very widely held assumption among investors is that Intact would look…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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.