BFL Canada has formed a partnership with Réseau Québécois des OSBL d’habitation (RQOH) to help ensure the financial stability of the Assurances Sékoia program, one of the largest non-profit housing portfolios in Quebec.
The two entities have committed to deliver a dependable insurance program for the social housing sector, covering nearly 50,000 housing units.
Assurances Sékoia is one of the most extensive insurance procurement groups within Quebec's non-profit sector. It was established in 2004 by RQOH to safeguard residential complexes that house individuals with low or moderate incomes or who are facing specific challenges.
A substantial number of these complexes are categorised as private senior’s residences (RPA), according to a news release from BFL Canada.
Commenting on the partnership, president and chief operating officer Lisa Giannone said BFL Canada has already assigned a team of professionals to Assurances Sékoia. The team is available to all Sékoia policyholders to provide advice and support for all their insurance and risk management needs.
“In addition to our extensive experience in insurance brokerage and risk management, our core values are strongly aligned with those of the RQOH and its members,” said Giannone. “This partnership sets the stage to significantly contribute to the long-term management and sustainability of Assurances Sékoia while safeguarding the interests of the RQOH and its members.”
At the time of this partnership, Assurances Sékoia has provided insurance coverage to approximately 1,600 buildings, with combined asset values of $4.57 billion, owned by nearly 730 organizations.
The non-profit housing sector represents more than a third of Quebec’s social housing, with almost 45,000 permanent housing units and 8,000 temporary or transitional units across the province.
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