CHES Special Risk: Everything you need to know

About CHES Specialty Risk

CHES Special Risk was founded in the midst of a hardening marketplace, with specialties in the entertainment and hospitality sectors. While originally, the managing general agent/wholesale broker was backed by Canadian insurers, it later became a Lloyd’s approved coverholder in 2009.

Today, CHES Special Risk offers products in more than 300 different classes, including property and general liability, construction, high-end homeowners, landlord, transportation and cargo, and many more.

CHES Special Risk in the news

June 2018: CHES Special Risk unveils new suite of active assailant products
August 2018: CHES Special Risk expands footprint in Quebec
July 2019: Apollo Insurance partners with CHES Special Risk
February 2020: CHES Special Risk launches life, travel, and employee benefits subsidiary
May 2020: CHES Special Risk launches insurance offering for the cannabis industry
September 2020: CHES Special Risk launches miscellaneous professional risks E&O offering
February 2021: CHES Special Risk launches special event liability insurance
September 2021: CHES Special Risk launches new insurance product for cryptocurrency exchanges
September 2021: CHES Special Risk introduces livestock and animal mortality insurance
November 2021: CHES Special Risk expands West Coast presence with appointment of branch manager
January 2022: CHES Special Risk introduces intellectual property insurance offering
March 2022: CHES Special Risk attains Great Place to Work certification for 2022
April 2022: CHES Special Risk recognized as a top SME employer
April 2022: CEO shares why an MGA's independence is both a challenge and a source of strength
May 2022: CHES Special Risk becomes Gold Sponsor of national anti-theft database

Key people

Gary Hirst – President and CEO, CHES Special Risk

Hirst’s insurance career dates back to the early 1980s, when he started working at a Lloyd’s broker, running policy endorsements into the market. He eventually climbed the ladder to become a director, a role that led to his participation in the management buy-out and subsequent floatation of the broker on to the London Stock Exchange.

At this time, Hirst decided to set out on his own with three other partners, and launched a boutique Lloyd’s brokerage in 1998 that then expanded into North America with the founding of two Lloyd’s coverholder MGAs – one in Canada and one in the US. In 2011, he moved to Canada to run the company’s North American interests, though it was sold in 2012.

Hirst joined CHES Special Risk two years later and has overseen the MGA’s growth in the marketplace as well as its various accomplishments, such as its many Insurance Business recognitions. Hirst is also a founding member of the Canadian Managing General Agents, a national association that represents more than 140 commercial insurance MGAs in the Canadian marketplace.

Culture

CHES Special Risk is always looking at new products that can benefits brokers and in turn, their insureds. In June 2018, the MGA launched a whole suite of offerings that included the active assailant insurance package, terrorism insurance package, threat of terrorism package, and loss of attraction cover, a standalone product for large clients such as stadiums, and shopping malls to address a threat of an incident that would force an event venue to close for investigations, which could lead to loss of revenue for businesses.

The MGA’s broker-focused sentiment came through during its expansion in Quebec in 2018. Speaking about the hiring of Gabriel Morneau as director and senior underwriter for CHES Solutions Spécialisées, Hirst said, “His strong experience in developing new and innovative products will be invaluable to CHES Solutions Spécialisées as we continue to provide our broker clients with one of the most expansive product offerings in the industry, especially at this time where there is market movement and uncertainty.”