CAA Insurance : Everything you need to know

CAA Insurance: Everything you need to know
Founded: 1974
People protected: 200,000+ Canadian families

CAA Insurance Company was launched in 1974 by the Canadian Automobile Association (CAA), which is one of the largest consumer-based organizations in Canada. The insurance arm is part of the Canadian Automobile Association South Central Ontario (CAA SCO), the largest CAA club in Canada.

CAA offers a range of services to its more than six million members, including automotive and travel services, emergency roadside assistance, member savings, and, of course, insurance services. CAA can trace its roots back to 1903 when 27 motorists met in Queen’s Park to form the Toronto Automobile Club. The first item on the agenda was showing MPPs that it was safe to increase the speed limit from eight miles per hour to 10 miles per hour.

In 1913, the CAA took on its current name. Several motor clubs in Canada came together to form the non-profit federation, including the Manitoba Motor League, the Saskatchewan Motor Club, and the Ontario Motor League (OML), all of which became part of CAA at various points in their histories.

CAA was at the forefront of major developments on Canada’s roads, such as publishing the first official Road Guide of Canada, urging the federal government to build a Trans-Canada Highway in 1922, and establishing first-aid posts along key highways in Ontario.

Eventually, CAA got into the insurance business. In 1937, OML introduced personal accident insurance as a benefit to its members and, in 1974, the Ontario Motor Insurance Company was established, later becoming the CAA Insurance Company (Ontario) in 1982. The company then introduced property insurance in 1983. In 2012, CAA SCO formed the Orion Travel Insurance Company, in partnership with the Alberta Motor Association.

In 2015, CAA Insurance Company (Ontario) was renamed to CAA Insurance Company, and shortly after introduced its high-net worth insurance, CAA Distinct.

CAA in the news

2014: CAA introduces CAA Connect, a usage-based insurance program
2016: CAA South Central Ontario and CAA Manitoba merge to form CAA Club Group
2018: CAA Insurance releases pay-as-you-go auto insurance, CAA MyPace
2019: Echelon Financial Holdings announces that it received final regulatory approval to sell its subsidiary, Echelon Insurance, to a subsidiary of CAA Club Group

Key people as of 2019

Matthew Turack – President of CAA Insurance
Turack holds 18 years of experience in the insurance industry, and has successfully led teams of underwriters, actuaries, claims, and sales and service professionals in product design, rate-making, and the development of risk models. He frequently speaks at industry events about CAA Insurance products and services.
Turack completed the business design program at the Rotman School of Business, after getting his Bachelor degree in business management. He is also a Chartered Insurance Operations Professional.

CAA has a lot of sway with consumers, after being named the most trusted insurance brand in Canada, and the second most trusted brand overall in the annual Gustavson Brand Trust Index in 2019. By delivering innovative products and continuously taking the temperature of its customers on hot topics, such as cannabis and distracted driving, CAA has been able to maintain Canadians’ trust.

“It is one of our mandates that we continue to be involved with government and have great relations with all the different parties in government [as we] advocate for safe roads,” said Turack. “We’re one of the few organizations who can talk about advocating and being on the forefront of seatbelts when seatbelts came into play and the legislation around that, so it has been our mandate that we continue to advocate for consumers and their safety while they’re on the road.”

CAA Insurance : In the news