Zurich Canada names new Head of Liability

Marco Royer has been named Head of Liability for Zurich Canada.

Royer will be a member of the Zurich Canada Executive Team and will report to Zurich Canada CEO Saad Mered. His first day at Zurich will be July 1.

Royer will be responsible for leading the market-facing underwriting teams in Zurich Canada’s liability portfolio, including casualty, energy casualty, construction liability, environmental liability and commercial automobile.

Royer will also oversee Zurich Canada’s Alternate Risk Transfer team and will be responsible for the development and growth of the healthcare and public sector industry verticals.

He will also work closely with other Zurich Canada executives to coordinate effective execution of portfolio management, distribution management, risk services and claims management.

Royer comes to Zurich with more than 30 years of experience in the European and Canadian insurance marketplaces. He has a strong technical casualty underwriting background and has held ascending levels of leadership responsibilities, including 18 years at Gen Re, where he led teams in ParisLondon and Montreal. Following Gen Re, he joined Aon Benfield as vice president and casualty specialist, then Quebec regional manager and head of Facultative Operations, reporting directly to the CEO.

In this most recent position, Royer was the head of the Canadian-London team, responsible for all Canadian reinsurance placement in the London market.

“We are very excited to have a leader of Marco’s caliber and deep experience and relationships in the Canadian market joining us,” Mered said. “With his addition to Zurich Canada, we continue to build a diverse, experienced and proven senior leadership team that will enable the transformation and repositioning of Zurich’s presence in Canada.”

Marco has certified as a Chartered Financial Analyst and is a member of London UK CFA Society. He also holds a Master of Business Administration and a Bachelor of Arts in Economics from McGill University in Montreal. He is also a board member of La Fondation OLO in Montreal whose mission is to help low-income families bring healthy babies into the world and teach them healthy eating habits early on.

SOURCE Zurich North America

Arthur J. Gallagher Expands in Canada With Keyser Benefits Corp.

Arthur J. Gallagher & Co. AJG has acquired Keyser Benefits Corp. that will not only improve its employee benefits consulting and brokerage operations, but also strengthen its Canadian footprint. However, financial details of the transaction have been kept under wraps.

Over the past 45 years, Calgary, Alberta-based Keyser Benefits has been operating as a full-service benefits brokerage firm, providing life, disability, health and dental, critical illness, retirement and other services. The company caters to small to mid-sized businesses and individuals throughout Western Canada. The primary objective is to offer benefits that will enable the respective client businesses to enhance performance, develop loyalty and provide a better incentive to quality employees to join and stay on with the businesses. Post completion of the buyout, Keyser Benefits will be shifting to the acquirer’s benefits office in Calgary.

With this acquisition, Arthur J. Gallagher is likely to gain from Keyser Benefits’ client-focused, family-oriented and ethically strong business model. Apart from boosting the insurance broker’s employee benefits consulting and brokerage operations, the buyout is expected to expand its growing global team. Moreover, the accretion of Keyser Benefits’ operations will complement and fortify the acquirer’s already existing geographic footprint.

With respect to strengthening the Canadian footprint, Arthur J. Gallagher acquired broker Jones Brown Inc. and its subsidiaries on Jan 8, 2019. The buyout is likely to bring in substantial value addition to its business and clients across Canada.

Given the insurance industry’s all-time high capital level, insurers are aggressively pursuing mergers and acquisitions to ramp up growth, expand geographies, enhance capabilities and diversify operations. Moreover, its inorganic pipeline remains robust with about $130 million of annualized revenues in 2019. The company flaunts an impressive growth profile, driven by organic sales plus a slew of merger and acquisition (M&A) activities. It remains upbeat about its ability to tow in integration partners within its typical small tuck-in size at justifiable prices.

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

 

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The Co-operators acquires Credit Union Advantage Insurance Brokerage Ltd.

The Co-operators is pleased to announce that they have reached an agreement with Central 1 Credit Union (Central 1) to purchase Credit Union Advantage Insurance Brokerage Ltd. (CUAIB).  Concurrent with this, CUMIS, a fully owned subsidiary of The Co-operators, will become the insurer for coverages currently underwritten by CUPP Services Ltd (CUPP Services) upon expiry of the current policy terms.

This acquisition is part of an ongoing commitment by CUMIS to the credit union system and will provide a direct servicing relationship with British Columbia credit union partners for their corporate insurance needs.  The portfolio is a program of insurance protection, including coverage for property and casualty, financial coverage and professional liability.

“This is another step forward for CUMIS in strengthening and growing our relationship with credit unions in British Columbia” says Bob Hague, President Credit Union Distribution, CUMIS. “Our team is excited to work directly with the credit unions to ensure they have the risk management and insurance protection they require.  We’re committed to bringing the same exceptional service that the credit unions experienced with CUAIB.”

CUMIS has been the excess insurer for the insurance program for many years and is knowledgeable of the credit unions needs.

CUMIS will maintain a local office in BC to service the insurance program and will be working with the BC credit union system to create an insurance advisory committee.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $41.7 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

SOURCE The Co-operators

Beazley launches specialist design build liability insurance

Beazley has launched a comprehensive professional liability insurance offering designed to meet the needs of construction contractors and design/build firms in Canada.

Design Build provides comprehensive first- and third-party liability cover including full access to Beazley’s market-leading breach response team, BBR Services, in the event of a cyber or data breach.

The policy covers firms’ costs to rectify defects arising out of work carried out by themselves or their subcontractors and for emergency pollution clean-ups that occur during the course of the building work.

Third-party liability coverage protects policyholders against claims arising from design work done either by their team or a sub-contractor. In addition to contractor’s pollution liability, transportation pollution and non-owned site pollution are included in the policy as well as coverage for mould and technology and advertising.

The cover is available to Canada-domiciled firms on a primary and excess basis.

Coverage enhancements also include:

  • Consent to settlement (softened hammer) clause – enables Beazley and insured to equally share costs incurred after insurer settles a claim
  • Asbestos and lead paint coverage
  • Mediation credit
  • Definition of insured – to also include licensed or similarly qualified professionals
  • Waiver of subrogation against the insured’s clients here contractually required
  • Worldwide territorial coverage for Canadian domiciled firms

With the threat of a cyber-attack now a reality for all organisations, Design Build provides firms that suffer a breach with access to BBR Services’ team of cyber breach professionals to assist at every stage of an incident investigation and breach response.

Nancy Brady, Beazley underwriter and product lead, said: “Over three decades of underwriting liabilities for building and design firms, Beazley has developed a deep understanding of the liabilities that design professionals and construction contractors face. In Canada, and globally, we help firms of all sizes, from sole proprietors to some of the country’s largest design firms, to manage the evolving risks they face. Bringing together underwriting, claims and risk management expertise across cyber, pollution and construction risk, the Design Build coverage provides extensive coverage to protect contractors and design/build firms in today’s highly regulated and often litigious environment.”

Note to editors:
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations 
in Europe, the US, CanadaLatin AmericaAsia and Australia. Beazley manages six 
Lloyd’s syndicates and in 2018 underwrote gross premiums worldwide of $2,615 million. All Lloyd’s syndicates are rated A by A.M. Best.

Beazley’s underwriters in the United States focus on writing a range of specialist insurance 
products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., 
an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

SOURCE Beazley

Insurance giant Great-West Life changing name to Canada Life

By  | Global News

An iconic Winnipeg insurance company is changing its name.

Great-West Life, which had its start in the city 128 years ago, is undergoing a rebrand under the Canada Life name, which is set to encompass all of the organizations under the current Great-West Life, London Life, and Canada Life brands.

Canada Life’s president said Wednesday the change isn’t expected to impact any of the group’s 11,000 employees in Winnipeg and four other Canadian cities.

Great-West made the news in 2017 after slashing 1,500 jobs across Canada, including 450 here in Winnipeg.

“Our employees are central not only to our companies’ growth, but to the relationship of trust that we’ve built with our customers, advisors and consultants,” said Jeff Macoun.

“Under the new Canada Life brand, we’ll make it easier for them to deliver for our customers, advisors, consultants, and their communities.”

The rebranding is expected to take place over the next year, with the three companies’ offices across the country – including Winnipeg’s Osborne Street landmarks – taking on the new name and logo.

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