Revealed – Canada’s five-star insurance carriers

Revealed – Canada’s five-star insurance carriers | Insurance Business Canada

Revealed – Canada’s five-star insurance carriers

It has been a testing year for the insurance industry. A hardening insurance market combined with a global pandemic, a mass shift to work-from-home, severe weather events, new socio-economic risks, and a dramatic increase in cyber threats, among other things, has really put pressure on the broker / carrier relationship.

In this challenging landscape, some insurance carriers in the Canadian market have gone above and beyond to build premium partnerships with brokers across the country. Now, the best in the business have been highlighted courtesy of Insurance Business Canada’s sixth annual Five-Star Carriers Report 2021.

Available to view now for free, the report was built by Insurance Business Canada asking brokers to rate their carriers’ performance across 10 categories on a scale of one (poor) to five (excellent). Those areas were:

  • Competitive rates
  • Overall service level
  • Underwriting expertise
  • Range of products
  • Claims processing
  • Quick quotes
  • Appetite for niche and emerging risks
  • Broker communication
  • Product innovation
  • Online platforms and services

Carriers that received an average score of 4.00 or higher were named a Five-Star Carrier for that category.

Among this year's winners are Unica Insurance and The Mutual Fire Insurance Company of British Columbia.

To find out who else came out on top, check out the full Five Star Carriers Report now.