Economical wins high praise for pandemic preparedness

Best-in-industry pandemic strategy wins key award for second consecutive year

Toronto, ON – July 5, 2011 – The Economical Insurance Group® (TEIG®) cinched highest praise for its pandemic preparedness strategy two years running on June 21 at the World Conference on Disaster Management in Toronto.

The APEX Award, co-sponsored by Marsh Canada Limited and Roche Canada and designed to honour private or public organizations that build, execute and continually improve top-notch pandemic preparedness programs, was handed to TEIG for the property and casualty insurer’s industry-leading work in updating and improving its award-winning pandemic plan.

“Receiving this award last year was a great endorsement for our strategy,” said Jennifer Hubbard, Assistant Vice President, Corporate Human Resources Services at TEIG. “This year’s recognition runs deeper – it shows that employee safety and business continuity are long-term core priorities at TEIG, and that we’re delivering strong performance in pursuing them.”

The perceived importance of pandemic planning has skyrocketed in recent years, in the wake of the H1N1 crisis that hit Ontario and multiple regions of the globe in 2009-2010. “The lesson there is that we can never be complacent,” Hubbard said. “Ensuring staff safety, operational continuity and effective stakeholder relationship management during health crises is vital in securing long-term success and stability.”

TEIG, widely recognized for its progressive culture, employee support systems and community engagement, is preparing to demutualize and move toward public company reporting and operational standards. Its board of directors is considering whether an initial public offering or a strategic sale would best secure the insurer’s interests moving forward.

About The Economical Insurance Group

Founded in 1871, The Economical Insurance Group (TEIG) is one of Canada’s leading property and casualty insurers, with $4.6 billion in assets and a surplus exceeding $1.3 billion. Canadian owned and operated, TEIG provides a wide range of insurance products throughout North America. TEIG Member Companies include Economical Mutual Insurance Company. (including Western General. Farm Division), Waterloo Insurance Company., Perth Insurance Company., The Missisquoi Insurance Company., Federation Insurance Company of Canada., Family Insurance Solutions and The Mattei Companies.

Tags: ,