Westland Insurance acquires Farrell Agencies Ltd.

Westland Insurance Group Ltd. is pleased to announce the acquisition of Farrell Agencies Ltd., effective June 1st, 2019.

Farrell Agencies Ltd. is a full-service brokerage founded in 1974 with locations throughout South Eastern Saskatchewan.  The acquisition of Farrell Agencies Ltd. is the first for Westland Insurance Group in the province of Saskatchewan.

“We are delighted to enter the province of Saskatchewan and to add Farrell Agencies to the Westland family.  Jason Farrell and his team have built an outstanding operation with an unwavering commitment to the clients and communities they serve.  This is an exciting day for Westland as we continue our strategic expansion in Canada.”  – Jason Wubs, President & Co-CEO, Westland Insurance Group Ltd.

Jason Farrell will be staying on with Westland to help lead and grow the operation in Saskatchewan.

“Joining Westland strengthens our position in the market, and will ultimately allow us to better serve our clients with a broader range of expertise and products.  Westland’s core values are very much aligned with the culture we have built at Farrell Agencies over the past 45 years.  We are excited to become part of such a well-respected independent Canadian-owned insurance brokerage.” – Jason Farrell, President, Farrell Agencies Ltd.

The agency will continue to operate under the Farrell name to ensure a smooth transition.

About Westland Insurance Group Ltd.

Westland Insurance Group was established in 1980 in Ladner, B.C. and is one of Canada’s largest independent Property & Casualty insurance brokerages.  The Company has over 90 offices throughout British Columbia, Alberta and Saskatchewan and is considered a leader in Home, Business, Auto and Farm insurance.

About Farrell Insurance Agencies Ltd.

Since 1974 Farrell Agencies has strategically evolved and expanded to consistently provide unmatched products and services to their customers.  Putting our customer’s needs first has resulted in a growing customer base which requires more employees to service our expanding trading area.

Great-West Lifeco completes sale of U.S. individual life insurance & annuity business

All figures are expressed in Canadian dollars, except as noted.

WINNIPEG, June 3, 2019 /CNW/ – Great-West Lifeco Inc. (Great-West Lifeco) today announced its Colorado-based subsidiary, Great-West Life & Annuity Insurance Company (GWL&A), has completed the previously-announced sale, through reinsurance, of substantially all of its individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation (Protective).

The business sold includes bank-owned and corporate-owned life insurance, single premium life insurance, individual annuities and closed block life insurance and annuities. GWL&A retains a small block of participating life insurance policies which will be administered by Protective.

The reinsurance transaction with Protective includes business written in the U.S by GWL&A, Great-West Life & Annuity Insurance Company of New York and the U.S. branches of GWL&A’s affiliates, The Canada Life Assurance Company and The Great-West Life Assurance Company.

GWL&A’s retirement and investment management divisions, Empower Retirement and Great-West Investments, are not affected by this transaction.

For additional details on the transaction, please refer to the news release dated January 24, 2019, available here.

About Protective Life Corporation
Protective Life Corporation provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. The company traces its roots to the corporation’s flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. The company’s home office is located in Birmingham, Alabama, and its 3,000+ employees are located in offices across the United States. As of March 31, 2019, the Company had assets of approximately US$92 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750). For more information about Protective, please visit www.Protective.com.

About Great-West Life & Annuity Insurance Company
Established 125 years ago, Great-West Life & Annuity Insurance Company administers a total of US$638 billion in assets for approximately 9.5 million retirement, insurance and annuity customers, as of March 31, 20191. The company’s offerings range from investments, life insurance, annuities and executive benefits products marketed under the Great-West Financial brand to retirement savings products and services provided by Empower Retirement, the nation’s second-largest retirement plan record keeper by participants2.

Great-West Financial® is a registered mark of Great-West Life & Annuity Insurance Company. GWL&A is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and “A Member of the Power Financial Corporation Group of Companies” ®.

About Great-West Lifeco Inc.   
Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Great-West Lifeco has operations in Canada, the United States and Europe through Great-West Life, London Life, Canada Life, Irish Life, Great-West Financial and Putnam Investments. Great-West Lifeco and its companies have approximately $1.6 trillion in consolidated assets under administration as at March 31, 2019 and are members of the Power Financial Corporation group of companies. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO. To learn more, visit greatwestlifeco.com.

SOURCE Great-West Lifeco Inc.

Returning home to High Level, Alberta – Insurance tips from IBC

EDMONTON, June 3, 2019 /CNW/ – Thousands of residents of High Level and surrounding areas are returning to their homes following the evacuations triggered by the Chuckegg Creek Wildfire.

This will be a difficult time for many of the residents who were evacuated. They will likely have a number of questions. That’s why Insurance Bureau of Canada (IBC) is available with insurance tips and information to help residents over the coming days and weeks.

“We appreciate that residents may feel overwhelmed as they re-enter their community, and we are here to help,” said Celyeste Power, Vice-President, Western, IBC. “The insurance industry has mobilized to help residents manage what will be a very difficult time.”

When returning to a community after an evacuation, residents’ primary concerns typically relate to their living expenses, how to file an insurance claim, claims for smoke damage and how to dispose of spoiled food from fridges and freezers that have been without electricity.

IBC reminds residents to retain all receipts from food purchases, accommodation and other related expenses in case they are eligible for reimbursement under their insurance policy. Most homeowner’s and tenant’s insurance policies provide coverage for reasonable living expenses during an evacuation. Contact your insurance company for details.

If residents cannot remember or reach their insurance provider, they can contact IBC at 1‑844‑2ask-IBC or by email at askIBCwest@ibc.ca.

For information about understanding fire insurance coverage, visit IBC’s website.

For more on filing an insurance claim, read this IBC brochure.

About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada’s private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 126,000 Canadians, pays $9 billion in taxes and has a total premium base of $54.7 billion.

For media releases and more information, visit IBC’s Media Centre at www.ibc.ca. Follow us on Twitter @IBC_West or like us on Facebook. If you have a question about home, auto or business insurance, contact IBC’s Consumer Information Centre at 1-844-2ask-IBC.

If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE Insurance Bureau of Canada

An unexpected medical emergency could be an ‘astronomical expense,’ agent warns

Read more

RCMP were not called about the spill until 4 hours after it was detected and couldn’t find acid spots

Read more

75% of drivers distracted at the wheel – IBC

MONTREAL, May 29, 2019 /CNW/ – IBC is releasing the results of a survey on distracted driving in order to encourage drivers to adopt good driving habits.

The numbers say it all: 75% of drivers said they were distracted at the wheel in the past six months*. And yet, 90% of drivers were aware that accidents caused by distracted driving can drive up auto insurance premiums.

What does distracted driving mean? 
Distracted driving takes many forms: phoning, text messaging, eating, drinking, putting on make-up, even listening to music. Any activity that takes the driver’s attention away from the road is considered a distraction.

Drivers are distracted and these are not isolated behaviours. In fact, the drivers surveyed said they had on several occasions in the past six months:

  • Eaten or drunk: 55%
  • Phoned: 39%
  • Texted: 11%

The age 35-44 sub-group was over-represented among drivers who said they were distracted, with 87% having said they had been distracted in the past six months, compared to 75% for all respondents.

“We were very surprised to learn that 90% of drivers are well aware that how you drive can result in higher auto insurance premiums. And yet, we were surprised to note this did not discourage risky behaviour and distracted driving”, said Anne Morin, Supervisor, Public Affairs, at IBC.

Limit accidents through risk awareness
The campaign objective is to make drivers aware of the distractions around them and the need to minimize the risks. Note that responsible behaviour can only be positive for the driver’s driving record.

“We decided to tackle the subject taking a moving approach and a touch of humour. We hope the campaign will have an impact on drivers as well as passengers, who have their role to play, since distracted driving affects everyone”, noted Anne Morin.

* Based on a SOM inc. survey carried out for Insurance Bureau of Canada (IBC) in 2019. 

About Insurance Bureau of Canada
Insurance Bureau of Canada, which groups the majority of Canada’s P&C insurers, offers various services to consumers in order to inform and assist them when purchasing car or home insurance, or making a claim. For all other information, please visit www.infoassurance.ca.

SOURCE Insurance Bureau of Canada

For further information: Pauline Triplet, Communications Advisor, Tel.: 514 288-1537, ext. 2277

Related Links

http://www.ibc.ca/

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from ILSTV

You have Successfully Subscribed!

Pin It on Pinterest