Keyword
Economical Insurance
Insurance Brokers Association of British Columbia annual conference and trade show, June 14 to 16, 2017
June 14, 2017 by Canadian UnderwriterWhistler 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…
Economical Insurance simplifies its business with changes to legal entities
June 6, 2017 by Canadian UnderwriterEconomical 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…
Technology advances to change insurance value chain, offers chance to reboot
May 19, 2017 by Angela StelmakowichTechnology advances will likely affect – perhaps even eliminate – some current roles in the insurance value chain, but should be regarded as an opportunity to focus more on value-added services and getting a seat at the table where new…
Economical Insurance posts net income of $5.3 million in 2017 Q1, down from $28.5 million in prior-year quarter
May 8, 2017 by Canadian UnderwriterAuto lines, catastrophe and weather-related losses served as a drag on underwriting results which, in turn, contributed to Economical Insurance posting net income of $5.3 million in 2017 Q1 compared to $28.5 million in 2016 Q1. “Higher investment income was…
Sonnet ‘first step in a multi-step journey’: Economical’s SVP and chief marketing officer
April 10, 2017 Jason Contant, Online EditorFully online insurance company Sonnet is the “first step in a multi-step journey” and the learnings from that process will be applied back to other parts of Economical Insurance’s business, Economical senior vice president and chief marketing officer Michael Shostak…
Broker ‘still a valuable partnership’ for Economical Insurance despite Sonnet launch: CIO
March 2, 2017 by Canadian UnderwriterEconomical Insurance’s recently-launched direct writer, Sonnet, is one example of “disruptive innovation” in the Canadian industry, a speaker told insurance professionals at a recent conference, though a senior executive of Economical suggested there is a “significant segment” of the market…
Speakers weigh in on contentious topic of insurers with “broker arm interrupters”
March 1, 2017 Jason Contant, Online EditorIf an insurer can offer brokers more products, assistance and their brand is recognized by clients, “there is some value there,” Jeff Roy, CEO of Excalibur Insurance Group, suggested on Wednesday at the Insurance-Canada.ca Broker Forum, held at the Allstream…
ICTC speaker urges insurers to be ‘more receptive to the better mousetrap’
March 1, 2017 Greg Meckbach, Associate EditorThere are many ways in which technology can help insurers, but they need to be able to respond quickly and not be so “old school,” panelists at a recent conference told industry professionals. “I think there is lots of room…
Court appoints committees to represent Economical mutual and non-mutual policyholders
February 24, 2017 by Canadian UnderwriterAn Ontario court has appointed two committees to negotiate the allocation of benefits from a demutualization of Economical Insurance, the Waterloo, Ont.-based insurance carrier announced Friday. No federally regulated P&C insurers have demutualized yet. Canada did not have regulations allowing…
Economical Insurance gross written premiums up 4.8% in Q4 2016 to $521.8 million
February 22, 2017 by Canadian UnderwriterEconomical Insurance has reported that gross written premiums (GWP) for the fourth quarter of 2016 ending Dec. 31 grew by $23.8 million, or 4.8%, to $521.8 million from $498 million in Q4 2015. In particular, personal lines premiums grew by…
IBAO, Insurance Institute of Ontario hosting live webcast on driverless cars
February 7, 2017 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) and the Insurance Institute of Ontario announced on Tuesday that they will be hosting a live webcast on the insurance implications of automated vehicles on Feb. 16. The webcast, which will run from…
Economical Insurance completes acquisition of Canada’s largest pet insurer
January 3, 2017 by Canadian UnderwriterEconomical Mutual Insurance Company announced on Tuesday that is has completed its previously announced acquisition of Western Financial Insurance Company (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed its legal name to Petline…