Economical Insurance Board Names Rowan Saunders President and CEO Effective Nov 1, 2016

"Our new look is very distinct and will help to further differentiate our brand in the marketplace," said Economical's President and CEO Karen Gavan

WATERLOO, ON, July 27, 2016 – The Board of Directors of Economical Insurance today announced that it has named Rowan Saunders as President and CEO effective November 1, 2016. This follows the announcement on February 19, 2016, that current President and CEO, Karen Gavan, will retire from the company and the board this year.

“Economical is at an exciting moment in its history with strong plans in place to accelerate our growth and enhance our competitiveness in the market,” said John Bowey, Board Chair of Economical. “We are extremely pleased to have attracted a leader with Rowan’s track record of success to advance our goals.”

Having served as President and CEO of RSA Canada since 2003, Mr. Saunders will further the vision of Economical to be one ofCanada’s top P&C insurance companies and advance the company’s strategic initiatives, including:

  • Canada’s first P&C demutualization (http://joininourfuture.com)
  • Becoming a publicly-traded company with access to new sources of capital to make strategic investments that will drive growth and increase our market share
  • Continuing to invest heavily in the company’s partnership with broker partners across Canada
  • Expanding its digital direct channel (http://sonnet.ca) to service a segment of Canadians that prefer to self-manage their home and auto insurance online
  • Potential future acquisitions

“I am very pleased to join Economical at such a critical moment in its evolution. There are so many exciting things underway and I am honoured to have the opportunity to join a high-performing leadership team to build on the success they’ve achieved during the last few years,” said Rowan Saunders. “Economical is on an ambitious journey to unlock its full potential and emerge as a national leader. I look forward to working with the team, driving the strategy, and taking this great company to the next level.”

Ms. Gavan will remain as President and CEO until Mr. Saunders assumes office.

In her five years at the helm of Economical, Karen Gavan successfully led the company through a period of transformational change. Under her leadership, the company established a bold vision and strategy for profitable growth and long-term success. It grew significantly while transforming its operating platform, positioning itself as a strong competitor in the Canadian P&C industry.

About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with $2.0 billion in premiums during 2015 and$5.3 billion in assets as at March 31, 2016. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Economical Financial, and Family Insurance Solutions.

SOURCE Economical Insurance

For further information: Doug Maybee, Manager, Public and Media Relations, Economical Insurance, (T) 519-570-8249, (C) 519-404-0989; David Bradfield, Vice President, Communication, Economical Insurance, (C) 647-223-5192

Cornerstone Insurance Brokers Ltd. has joined BrokerLink.

Cornerstone Insurance Brokers Ltd. has joined BrokerLink.

NEWS RELEASE

TORONTO, July 5, 2016 – BrokerLink, one of Canada’s largest property and casualty insurance brokerages announced today the successful acquisition of Cornerstone Insurance Brokers Ltd. All four brokerage operations located in Woodbridge, Markham, Aurora and Barrie, Ontario, will integrate under the BrokerLink brand. The terms of the transaction were not disclosed.

Cornerstone Insurance Brokers is a well-established name in Southern Ontario,” said Paul Meyer, Head of Acquisitions for BrokerLink. “Similar to our organization, Cornerstone Insurance Brokers has built their business on a service-oriented and professional culture which has created long-term and high-quality customer relationships. It was easy to see that this acquisition was the right fit for us and we look forward to welcoming their team to BrokerLink.”

“When we founded Cornerstone, our goal was to provide access to exceptional insurance coverage through an
exceptional customer experience,” said Wendy DaSilva, Chief Executive Officer of Cornerstone Insurance Brokers Ltd. “BrokerLink’s focus on innovation, value, and excellent customer service align with the core values of our organization.”

With this acquisition, BrokerLink will also acquire the brand rights to BeWiser Insurance Brokers Inc. owned and
operated by Cornerstone Insurance Brokers Ltd. Through the lead generation website BeWiser.ca, hard to place customers can work with insurance professionals to find insurance products that are right for them.

“The synergies between our organizations were also evident in the way Cornerstone has leveraged digital media to
connect with customers,” added Meyer. “At BrokerLink, we strive to offer diverse products and services through a variety of distribution channels, including social media and through our website.”

Through the acquisition, BrokerLink welcomes 90 employees. Wendy DaSilva, Chief Executive Officer and Peter DaSilva, President and Chief Operation Officer will be joining BrokerLink to assist during the transition.

About BrokerLink
Established in 1991, the BrokerLink companies, which include Canada Brokerlink Inc., Canada Brokerlink (Ontario)
Inc. and Macdonald Chisholm Trask Insurance, together constitute one of the largest Canadian property and casualty insurance brokerage operations with over 115 offices supported by more than 1,400 employees across Ontario, Alberta and Atlantic Canada. The BrokerLink companies are subsidiaries of Intact Financial Corporation
(TSX: IFC).

Media Inquiries:
Paul Meyer
Head of Acquisitions
416-860-5253
pmeyer@brokerlink.ca

Economical commits $109,500 to the fight against cancer

WATERLOO, ON – Today, 63% of adults and 83% of children survive at least five years from their cancer diagnosis, compared to 25% in the 1940s when the Canadian Cancer Society first began funding research. Tremendous progress has been made against the disease but overall cancer cases are increasing because of Canada’s growing and aging population.

For 16 years, Relay for Life, the national signature event of the Canadian Cancer Society, has been the biggest cancer fundraising event in Canada. In 2015 alone, 331 communities across the countries united at these events raising $34 million to advance cancer research and support Canadians living with cancer.

This June, Economical Insurance is proud to once again support the Canadian Cancer Society with a commitment of $109,500 in title sponsorship of 10 Relay For Life events in Ontario — three in Ottawa, two in Toronto and one in Mississauga, Waterloo, Cambridge, and Woodstock — in addition to an event at Quartier DIX30 in Brossard, Quebec.

“Corporate sponsorships are essential to the success of our Relay For Life events,” says Lesley Ring, vice-president, development and marketing for the Canadian Cancer Society in Ontario. “We deeply thank Economical Insurance and its employees for generously supporting us for the past 10 years.”

“At Economical, we have proudly sponsored Relay For Life events since 2006,” said Karen Gavan, Economical’s president and chief executive officer. “This year, we have raised our sponsorship commitment toward the fight for life and against cancer. Relay For Life helps to fund life-saving cancer research and promote healthy lifestyles which can help stop cancer before it starts. It’s also good to know that the Canadian Cancer Society offers compassionate services and support to those living with cancer and their families and friends.”

These events are six-or 12-hours long and challenge teams to fundraise and take turns walking or running around a track for 5 km, 10 km or more. People can participate in these events at any age or fitness level. Teams go the distance to show support for people who have experienced cancer. Since 1999, Relay For Life has raised more than $496.5 million in Canada for cancer research and support programs.

This June, join Economical Insurance and its employees by registering for a Relay For Life event. Learn more at relayforlife.ca

About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with $2.0 billion in premiums during 2015 and $5.3 billion in assets as at March 31, 2016. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Economical Financial, and Family Insurance Solutions.

For further information, contact:
Doug Maybee
Economical Insurance
(T) 519.570.8249
(C) 519.404.0989
doug.maybee@economical.com

Langley’s B&W Insurance Brokers honoured as one of Canada’s best

Langley Times

A Langley insurance brokerage had been recognized as one of the leading firms in all of Canada.

B&W Insurance Brokers was named one of Canada’s top brokerages by Insurance Business Canada.

To determine the best in the industry, Insurance Business Canada collected both quantitative and qualitative information from the nominees, comparing client counts, analyzing client retention rates and new business development, as well as revenue figures.

“Beyond purely reviewing numbers, we assessed nominees on attributes such as innovation, client relations and strategic leadership. And to some degree, we looked at the character and culture inherent in a successful brokerage,” said Donald Horne, the associate editor of Insurance Business Canada.

“Because at the end of the day, it’s easy to forget the importance of that human touch and the impact it has in today’s hyper-digitized world — especially in a client-focused service industry like insurance.”

The whole process narrowed down the nominee pool to a select group of 31 brokerages that exemplify success and a well-rounded approach needed to get ahead in the market.

The Co-operators wins Canadian Analytics Carrier of the Year

Cooperators-logo-blue-2X

The Co-operators has been named the Canadian Analytics Carrier of the Year by Nexus Insurance at the Insurance Analytics Canada Awards. The award, which was presented as part of the Insurance Analytics Canada Summit in Toronto, acknowledges the insurance company that has made the biggest advances in implementing analytics in its business.

The business intelligence team at The Co-operators was created in 2011 with just two employees. Given its success in helping the insurer work smarter, the organization continued to invest in this area and the team grew to its current size of 70 business intelligence professionals. Its work was instrumental as The Co-operators became the first insurance company in Canada to offer homeowners comprehensive flood insurance coverage in 2015. Other areas of focus include the development of self-service analytics, usage-based insurance, the internet of things and price optimization, among other things.

“New technologies and the availability of data are changing insurance in a fundamental way, and this award recognizes our achievements in creating a data-driven organization,” said Carl Lambert, vice-president, national P&C business intelligence at The Co-operators. “Our accomplishments to date have been made possible by a team of incredibly talented business intelligence professionals and a leadership group with the foresight to make wise investments in this aspect of the business.”

The award ceremony brought together more than 200 people from leading insurers and service providers to recognize ground-breaking achievements in data and analytics. Expert judges evaluated entries based on how the companies have challenged the norms of the industry and pushed conventional boundaries.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $40 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 inCanada by Aon; Corporate Knights’ Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine. For more information visit www.cooperators.ca.

SOURCE The Co-operators

Economical Insurance provides $5,000 to help educate children in Grey Bruce on water conservation

News Release

From May 17 to 19, more than 2,000 Grade 4 students, 450 teachers and parents, and approximately 650 volunteers from across the county will be at the 15th Annual Grey Bruce Children’s Water Festival learning about water conservation practices and protection of natural resources to ensure a high quality water supply for future generations.

The need for better water stewardship is clear. Despite improvements in household water conservation, Canada remains one of the world’s largest per capita users of fresh water, second only to the United States. According to the Canadian Mortgage and Housing Corporation, in 2011, 43% of municipal water usage was residential.

In groups of five accompanied by a teacher/parent, students will go through as many as 46 interactive activity centres to learn about the wise use, conservation and protection of water and water sources. Each activity centre is hands on, educational and entertaining and compliments the Ontario Curriculum.

For the fourth consecutive year, Economical Insurance, one of Canada’s largest provider of home, auto and business insurance, has partnered with Miller Insurance Brokers, to support the festival with a gold-level sponsorship.

“Economical is honoured to be involved with the Grey Bruce Children’s Water Festival” said Robert Gow, Economical’s Vice-President of Sales and Distribution for Ontario. “We feel it is important to make children aware of the impact water usage has on our environment, and to encourage them to take action at an early age.”

“We are proud of our affiliation with a company like Economical Insurance, that continues to show their dedication to respecting and protecting our environment by supporting this year’s festival,” says Todd Farrell, President of Miller Insurance Brokers. “Educating youth about Canada’s high water usage, and providing them with resources to learn about water conservation, is a critical step towards a more sustainable future.”

The festival will focus on several key messages for students: use water wisely, protect our water supply, examine the interface between water and technology, and celebrate the overwhelming role of water in the ecosystem. Although the festival caters to Grade 4 students, the educational messages will be extended to the general public through educational radio ads, local radio talk shows, websites and media coverage.

About Economical
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with $2.0 billion in premiums during 2015 and $5.3 billion in assets as at December 31, 2015. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Economical Financial, and Family Insurance Solutions.

About Miller Insurance Brokers
Miller Insurance has brokered insurance to homes and businesses in Grey, Bruce and Wellington Counties for more than 100 years. Starting in 1899 as the Jackson Bros. Agency, it has operated under the name of Miller Insurance since 1985 and has grown to support 50 employees in its eight locations. Proudly active in the community, Miller Insurance continually strives to provide the best customer service, and the best products for its customers.

For further information, contact:
Doug Maybee
Economical Insurance
(T) 519.570.8249
(C) 519.404.0989
doug.maybee@economical.com

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