Named for the third year in a row in Training Magazine’s “Training Top 125” list of outstanding training organizations
WATERLOO, ON, February 15, 2012 – Economical, one of Canada’s largest property and casualty insurers, has been named a global leader in Training Magazine’s annual ranking of 125 organizations that offer outstanding employer-sponsored workforce training and development. The awards program recognized Economical for aligning training with corporate strategy through several key initiatives.
The award marks Economical’s third consecutive appearance in the prestigious international rankings, and its second consecutive placement in the top 10.
Training Magazine, the training industry’s premier publication, ensures the integrity of the high-profile awards program by partnering with an outside research and statistical data company. All candidate companies are scored based on quantitative and qualitative data sets including best training practices, evaluation methods and outstanding training initiatives.
“We are very proud to be recognized once again as a global leader in employee training, learning and development,” said Dean Bulloch, Economical’s senior vice-president and chief human resources officer. “Investing in ongoing employee development and success is essential to our company’s long-term competitiveness, and to recruiting and retaining the best and brightest talent available.”
Economical was hailed by the 12th annual Top 125 competition for initiatives launched in 2011, which include its national broker training program; a performance management program for company leaders; and its continued use of virtual training environments to launch programs.
“This award is excellent validation for our leadership development, training technology, and infrastructure,” said Mary Beth Alexander, the company’s assistant vice-president, organizational development and corporate marketing. “This achievement is a direct result of our dedicated staff in learning and organizational development that is helping Economical maintain its competitive advantage.”
About The Economical Insurance Group
Founded in 1871, The Economical Insurance Group is one of Canada’s largest property and casualty insurers, with $1.7 billion in premiums and $4.6 billion in assets. Based in Waterloo, this Canadian-owned and operated group services the insurance needs of more than one million customers through 19 branches and service offices across the country. In 2010, Economical announced its decision to become the first federally-regulated mutual property and casualty insurance company to demutualize. Economical is currently reviewing strategic options and will submit a comprehensive demutualization strategy for mutual policyholder approval after the federal government’s completion of regulatory development.
The Economical Insurance Group’s 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. Visit www.teig.com.