Travelers Canada: Everything you need to know
Corporate headquarters: 165 University Avenue, Toronto, ON M5H 3B9
Year established: 1988
Office locations: Vancouver, Calgary, Toronto, Ottawa, Montreal
Net written premiums (Travelers Companies): $31.959 billion (2021)
Total revenue (Travelers Companies): $34.816 billion (2021)
Financial strength rating: A++ (A.M. Best), AA- (Standard & Poor’s)
Key people: Heather Masterson (president and CEO), Doug Hogan (chief financial officer), Scott Gill (chief operating officer), Michael Lin (chief information officer), Erika Schurr (chief actuary), Cristina Marchio (VP, operations), Rich Carty, business insurance international lead), Theresa Teixeira, chief underwriting officer), Robert Burns (SVP, surety), Steve Smith (VP, specialty insurance), Kareem Sandid (director, strategic initiatives), Joanne Carmody (VP, claims), Caleb Earnest (VP personal insurance), Marc Gorbet (general counsel and head of legal), Kathleen Thomas (chief risk officer), Paul Stone (VP, personal insurance - sales, distribution and marketing)
As the Canadian arm of The Travelers Companies, Travelers Canada combines the Canadian-licensed insurers' Dominion of Canada General Insurance Company, St. Paul Fire and Marine Insurance Company, and Travelers Insurance Company of Canada under one umbrella. With offices spread across Canada, from Vancouver and Calgary to Montreal and Dartmouth, with a presence in Edmonton, Winnipeg, London, Toronto, and Ottawa in between, Travelers Canada services individuals and businesses from sea to shining sea.
Personal lines insurance offerings include car, home, boat, and group insurance, while on the commercial insurance side, Travelers Canada’s sector specialties range from construction to entertainment, ocean marine to the public sector, and retail to technology, alongside others. The company also offers management and professional liability as well as surety.
In June 2018, Travelers Canada announced a suite of services tailored to the needs of small businesses, which included human resources and legal assistance at no extra cost to help small business owners manage the everyday activities that are fundamental to their success. The specific new services and solutions now offered are business legal telephone assistance, designated human resources assistance, and emotional support assistance.
Travelers Canada holds a strong belief in getting consumers access to independent, professional advisors, and distributes products exclusively through the broker channel. According to the company, “Our broker agreements require that brokers and Travelers Canada exercise the utmost diligence, honesty and good faith in performing their duties, in properly and promptly servicing policies, and in our communications and dealings with policyholders.”
Travelers Canada’s broker compensation works in two ways: the company pays brokers a fixed percentage of the premium a policyholder pays, which varies by type of business, and it also has a contingent commission program, which recognizes brokers for helping Travelers Canada to write profitable business.
Prime ministerial history
Travelers Canada has its roots buried deep in Canadian history. Canada’s first Prime Minister Sir John A. MacDonald was also the first president of Dominion of Canada General Insurance Company, which was founded in 1887. Travelers acquired the company in 2013.
The other key business components of Travelers Canada came together a few years before when, in 2009, St. Paul Fire and Marine Insurance Company and Travelers Guarantee Company of Canada merged their property-casualty and surety operations under the name Travelers Canada. St. Paul Fire and Marine Insurance Company launched its operations in Canada in 1928, while Travelers Guarantee traces its roots in the country back to 1988.
In 2012, Travelers Guarantee Company of Canada changed its name to Travelers Insurance Company of Canada.
Keeping an eye on distracted driving
Travelers Canada doesn’t just offer auto insurance. The company also takes part in thought leadership on driving risks to reveal key and relevant insights. A 2018 poll, conducted by The Harris Poll on behalf of Travelers Canada, discovered that millennials are more likely to ask drivers to stop using their mobile phones while on the road when compared to other age groups.
According to the survey, 42% of respondents have asked a driver to stop using their mobile device while they were a passenger in the automobile. Meanwhile, a breakdown of those who asked drivers to stop using their phones showed that millennials (or those individuals between the ages of 18 and 34) were the age group that was most likely to caution motorists about using their mobile devices while driving, at 59%.
“It is particularly compelling – and encouraging – to see that the demographic most comfortable with asking a driver to put down their mobile device is Canadian youth,” said then Travelers Canada group general counsel and vice-president of claim Jordan Solway. “Distracted driving is a deadly habit, and we should all be advocates when it comes to speaking up about its dangers and our safety.”