Hub International Acquires Ontario-Based Proteus Performance Management Inc.

 Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Proteus Performance Management Inc. (Proteus). Terms of the transaction were not disclosed.

Headquartered in Toronto, Ontario, Canada, Proteus provides specialized pension plan governance and investment consulting to corporate plan sponsors, not-for-profit organizations, trusteed plans, public plans, foundations and endowments. Proteus has ranked in the top decile for overall quality of investment consulting services in the 2017 Greenwich Associates Survey for U.S. and Canadian Institutional Investors Research.

“Proteus is considered among the leaders in the field of governance and investment consulting, and prides itself in providing trusted advice to clients,” said Gregory Belton, Executive Chairman of Hub Ontario. “They have a talented team whose experience will bring a unique perspective and substantially strengthen our Canadian pension consulting capabilities.”

The move further demonstrates Hub’s ongoing Canadian employee benefits and pension consulting growth strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution.

Peter Henry, President of Proteus, and Senior Vice Presidents Gord Lewis and Ryan Kuruliak, will join Hub Ontario and report to Mr. Belton.

“This is an exciting and significant move for Proteus,” said Mr. Henry. “Proteus can continue to focus on our core mission – providing award winning pension plan governance and investment consulting services to our clients, but now with the added benefit of Hub’s leading corporate reputation, presence across the country and similar entrepreneurial culture. Our partnership with Hub will further strengthen the quality of service we provide our clients and the confidence our clients have with our firm.”

About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.  For more information on the Hub M&A experience, visit WeAreHub.com.

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.

SOURCE Hub International Limited

OTIP’s Chris Floyd appointed new President of the Insurance Brokers Association of Canada

OTIP (the Ontario Teachers Insurance Plan) is pleased to announce that Chris Floyd, President of Individual Insurance Services for the OTIP Group of Companies, has been appointed President of the Insurance Brokers Association of Canada (IBAC) for 2018-19.

Chris began his career in insurance as a claims adjustor at Gore Mutual Insurance in 1986. He joined OTIP in 1994 as a Service Manager, and advanced to the role of Vice-President shortly after. Chris has been serving as the President of Individual Insurance Services since 2004, overseeing operations for both the OTIP/RAEO Insurance Brokers Inc. and TW Insurance Brokers Inc. companies.

“We are honoured to have Chris take on this very important role as president of IBAC,” says Vic Medland, OTIP CEO. “Chris is a natural leader and is well respected across the industry. His hands-on and innovative approach will be an asset to brokers across the country.”

Chris is a Chartered Insurance Professional (CIP) and a graduate of the Institute of Corporate Directors Program from the University of Toronto’s Rotman School of Management. In addition to his work with IBAC, Chris also served as President of the Insurance Brokers Association of Ontario from 2013 to 2014.

“There is an urgent need for IBAC to lead our fellow brokers in the areas of technology, advocacy and education,” says Chris. “I am excited for the year ahead, and I am grateful for the opportunity to work with the entire 2018-19 IBAC executive and board to help move our industry forward.”

About OTIP

Creating insured members for life. At OTIP (www.otip.com), we not only understand the education system, we believe in it. Across all lines of insurance, OTIP provides coverage to more than 200,000 education employees in the province. Owned by Ontario’s four education affiliates (AEFO, ETFO, OECTA and OSSTF/FEESO) and directed by a board of trustees, OTIP was built on the belief that educators would be better served by a not-for-profit insurance advocate that was part of the education community. This remains our philosophy today.

SOURCE OTIP (Ontario Teachers Insurance Plan)

Great-West Lifeco announces succession of the President and Chief Operating Officer

Great-West Lifeco Inc., has today announced that Stefan Kristjanson, President and Chief Operating Officer, Canada, has decided to retire on December 31, 2018. Stefan has been with the company for nearly 30 years, including the last two years as President and Chief Operating Officer, Canada. In that role, Stefan has guided the company through the first phase of its transformation, strengthening its position for continued success. Knowing this, Stefan decided the time was right for a new leader to carry the organization forward through the next phase of its transformation and growth.

“On behalf of the Board of Directors and the entire organization, I want to thank Stefan for his vision, dedication and leadership, as well as his nearly 30 years with the company,” said Paul Mahon, President and Chief Executive Officer, Great-West Lifeco. “I would also like to express my gratitude for the work Stefan has done to help build a strong foundation for our next phase of growth in Canada.”

As a result of Stefan’s retirement, the company announced that Jeff Macoun has been appointed the President and Chief Operating Officer, Canada, effective immediately. Jeff began his career with the company more than 30 years ago and has held senior leadership positions in both Group and Individual Customer – most recently serving as Deputy Chief Operating Officer, Canada and Executive Vice-President, Group Customer.

“Given Jeff’s strong leadership track record with the company, he is well-placed to deliver on the next phase of our growth strategy,” said Paul Mahon, noting that to ensure a smooth transition, Stefan has been appointed to the role of Special Advisor to the CEO and COO until he retires at the end of 2018. “I look forward to working closely with Jeff as we continue to implement our transformation journey.”

Macoun says he will draw upon his diverse experience with the company as he steps into the new role.

“Over the years, I’ve built strong relationships with customers, advisors and employees,” said Macoun. “I’m very excited to continue forward with the second phase of our transformation and the overall growth strategy of the company.”

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 Canadathe 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 over $1.4 trillion in consolidated assets under administration as at June 30, 2018 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.

On-demand insurance now available to home-share & short-term rental hosts in BC & AB

 Today, duuo by co-operators, The Co-operators new digital insurance brand, launched its on-demand, pay-per-use insurance product in British Columbia and Alberta.

The first insurance product to launch under the duuo brand is an on-demand insurance product for hosts who rent their properties using popular platforms like Airbnb®, HomeAway®, VRBO® and others. The duuo product, which is purchased only for the nights that guests are renting a property, is intended to cover the additional risks hosts face with short term rentals or homesharing, which are typically not covered by their standard home insurance. At an average of $8 per night, the policy provides coverage for the full replacement cost of a home and its contents, plus additional protection specific to homesharing including vandalism, infestation, liquor liability, loss of income, and more. This insurance solution fills a growing gap in the marketplace and provides greater flexibility for an expanding segment of the population who rent out their premises as participants in the sharing economy.

Duuo was designed to both identify and fill gaps where Canadian’s needs are not being met by traditional insurance models. The new homeshare insurance solution offered by duuo is unique in that it is a fully digital, mobile self-serve model. Customers simply input their name, email address and property address to obtain a policy, and coverage is purchased to match the term of the rental stay. Currently available to residents of OntarioBritish Columbia and Alberta, the new product will be available in the Prairies and Atlantic provinces later next month with Quebec to follow in early 2019.

“As more Canadians participate in the sharing economy, new unmet insurance needs will continue to emerge,” said Rob Wesseling, President and CEO of The Co-operators. “Our commitment to provide financial security and peace of mind while meeting the rapidly evolving needs of Canadians has driven us to innovate, and this insurance solution is a direct result of that. With duuo, we have built a collaborative platform to provide on-demand insurance solutions with a high degree of agility and flexibility.”

Duuo is powered by Slice Insurance Cloud Services (ICS), providing a simple and fast application process, AI-powered claims processing, and comprehensive cyber security protection of homeshare host and insurer information. “Slice has proved that innovating with cloud insurance technology works as evidenced by significant positive homeshare host feedback across the U.S,” said Tim Attia, CEO of Slice Labs. “This is a groundbreaking moment for the Canadian insurance industry and more importantly enables The Co-operators to build more meaningful relationships with Canadians by supporting new chapters of profitable entrepreneurship. We look forward to seeing what other digital insurance products The Co-operators will launch with ICS.”

Slice manages all ICS technology development from their Ottawa, Canada office.

For more information on the product, visit www.duuo.ca

Co-operators:
The Co-operators is a Canadian insurance and financial services co-operative with more than $41 billion in assets under administration. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products.
The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca.

About Slice:
Slice Labs is a leading on-demand insurance cloud platform provider that empowers insurers to deliver new value to customers through direct insurance or insurance agent models without investing in infrastructure to provide customized on-demand, pay-as-you-go insurance products.  The Slice Insurance Cloud Services platform (ICS) is powered by machine learning and advanced big data technologies along with Ph.D. behavioral science expertise. ICS is the foundation for new digital insurance products being released globally by top insurers, and is also the base for Slice’s own digital insurance products serving the new economy. Slice operates in the U.S., Canada, and the U.K. To stay up to date with Slice, visit http://www.slice.is and follow @SliceLabs on Twitter.

For more information on the product, visit duuo.ca

duuo™ and duuo by co-operators™ are trademarks of The Co-operators Group Limited. Insurance products and services branded duuo by co-operators™ are offered by Co-operators General Insurance Company (CGIC).
Airbnb® is a registered trademark of Airbnb, Inc.
VRBO® is a registered trademark of HomeAway.com, Inc.
HomeAway® is a registered trademark of HomeAway.com, Inc.
Reference to these home sharing platform providers is by way of example only and is not an endorsement of The Co-operators, duuo by co-operators™ brand, Slice Labs Inc., or their respective products or services.

SOURCE duuo

Majority of Canadians worry about drug-impaired driving

As Canada approaches marijuana legalization many stakeholders have been raising serious concerns with drug impaired driving. A new Desjardins survey supports these concerns as the majority of Canadians (86%) are worried about drug impaired driving. In fact, 75% are concerned with progress in crucial areas like legislation, testing and awareness.

Most respondents (71%) believe there will be an increase in impaired driving when marijuana becomes legal and more (77%) still worry that there has not been enough driver education on the topic. In a new report from the Traffic Injury Research Foundation (TIRF), the percentage of fatally injured drivers who tested positive for marijuana rose to 20.9% in 2015 from 15.9% in 2000.

When it comes to which age group is most associated with marijuana-impaired driving, 90% of respondents stated 16-34-year-olds. According to TIRF, the two biggest age brackets for fatally injured drivers who tested positive for marijuana in 2015 were 16-19-year-old drivers (32.1%) and 20-34-year-old drivers (35.9%). Also, the percentage of 35 to 49-year-old drivers who tested positive is substantial at 16.9% and 14.9% among 50 to 64-year-old drivers.

According to Statistics Canada’s National Cannabis Survey, one out of every seven marijuana users with a valid driver’s licence is getting behind the wheel within two hours of consuming marijuana. This is especially alarming because Canadians are not confident that law enforcement has the means to deal with the challenge; 81% of respondents believe we lack the tools and resources necessary to identify marijuana-impaired drivers.

“As a leading insurer, committed to our communities, we have concerns regarding any form of impaired driving,” said Denis Dubois, President and Chief Operating Officer of Desjardins General Insurance Group. “Cannabis and drugs can impair your ability to stay focused and alert on the road. It endangers yourself and others and we firmly support laws against its consumption while behind the wheel.”

A collective effort
“Government, law enforcement and other stakeholders are all working hard to address this issue. This is a collective effort and Desjardins will continue to invest in awareness and education to mitigate injury and help save lives. We’ve always encouraged Canadians to drive responsibly and safely and we’ll continue to do so,” he added.

Marijuana isn’t the only drug-impaired driving Canadians are worried about. Three in four respondents are also concerned about those driving under the influence of prescription drugs:

  • One in six Canadians say they have driven under the influence of an over-the-counter drug (for example, medication that can cause drowsiness).
  • One Canadian driver out of five has driven at least once under the influence of a prescription drug.

Partners with a common goal
Desjardins works closely with national partners, like the Traffic Injury Research Foundation, to better inform Canadians about the risks of the road.

“Desjardins’ survey results are very much in line with other studies and illustrate the importance of education campaigns for the public and stakeholders alike,” says Dr. Ward Vanlaar, COO from the Traffic Injury Research Foundation. “That’s why we created the Drug-Impaired Driving Learning Centre, a web-based resource that summarizes the latest research about drug-impaired driving in several key areas.”

Desjardins is proud to share two additional resources that will help combat drug-impaired driving:

  • Drug-Impaired Driving Learning Centre is a web-based resource that was designed to share the latest research about the problem, increase awareness, and inform the development of effective strategies to tackle drug-impaired driving.
  • A new Traffic Injury Research Foundation report on Marijuana Use Among Drivers in Canada examines the role of marijuana in collisions involving fatally injured drivers between 2000 and 2015.

About the Survey
The online survey, conducted in March 2018, polled 3,020 respondents of driving age across Canada.

About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world, with assets of $290.1 billion. It has been rated one of the Best Employers in Canada by Aon Hewitt. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Counted among the world’s strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and credit ratings in the industry.

About the Traffic Injury Research Foundation (TIRF)
Established in 1964, TIRF’s mission is to reduce traffic-related deaths and injuries. As a national, independent, charitable road safety institute, TIRF designs, promotes, and implements effective programs and policies, based on sound research. TIRF is a registered charity and depends on grants, contracts, and donations to provide services for the public. Visit us online at www.tirf.ca.

SOURCE Desjardins Group

Totten Acquires New Brunswick-Based Anderson McTague & Associates Ltd.

Totten Insurance Group Inc. (Totten), a leading national insurance managing general agency, announced today that it has acquired Anderson McTague & Associates Ltd. (Anderson McTague). Terms of the transaction were not disclosed.

Headquartered in Saint John, New Brunswick, Canada, Anderson McTague has served Atlantic Canada’s independent insurance brokers since 1937. Anderson McTague is Canada’s longest-standing MGA coverholder for Lloyds, as well as Canada’s 2017 “MGA of the Year” award winner. The company provides customized solutions to a broad range of hard-to-place and standard risks. Totten plans to leverage Anderson McTague’s experience with Lloyds and their detailed knowledge of Atlantic Canada to further support its broker partners.

Anderson McTague is the region’s most trusted MGA when it comes to hard-to-place-risk insurance products,” said Denis Dei Cont, President of Totten. “They have a team of experienced professionals that provide high-quality service and innovative solutions, and we are eager to leverage this combination of expertise and creativity to meet the needs of Atlantic Canada’s independent brokers.”

Anderson McTague PresidentChuck McTague, will join Totten and report to Denis Dei Cont.

“The service commitment that we provide to our broker partners has always been our focus,” said Mr. McTague. “Joining Totten will not only help us continue to provide quick, efficient and customized products that our broker partners will appreciate, but it will also deepen our resources and capabilities.”

About Totten
Totten Insurance Group is a leading Canadian MGA with the expertise to handle complex accounts, as well as specialty risks. With offices across Canada, Totten supports the broker community in key segments, including Commercial Property and Casualty, Commercial Casualty, Healthcare, Hospitality, Construction, Forestry, Mining, Professional Liability and Personal Lines. Visit www.tottengroup.com

SOURCE Totten Insurance Group

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