Toronto, ON (July 18, 2016) – A number of foreign-owned commercial insurers operating in Canada have come together to form the Global Commercial Insurers Association (GCIA). The association will provide a platform through which foreign-owned commercial insurance carriers can become informed of current regulatory developments and advocate on issues relevant to the commercial insurance industry.
The Association, whose members represent 52% of all commercial insurance premiums in Canada, is positioned to become the voice of global commercial insurance companies operating in Canada. The founding members are AIG, Allianz Global Risks Insurance Company, CHUBB Insurance Company of Canada, Lloyds Underwriters and Zurich Insurance Company Ltd.
“In many instances, member companies have a unique view of market and regulatory issues arising from the complex nature of the coverages that they write and their ownership,” says Patrick Lundy, Chair of the newly formed Global Commercial Insurers Association. ” The association’s work will complement the efforts of other industry associations for the betterment of our members, benefitting the property/casualty insurance industry and our clients.”
About the GCIA
The Global Commercial Insurers’ Association is the voice of global commercial insurance companies operating in Canada. The association provides a platform through which foreign-owned commercial insurance carriers can become informed of current Canadian regulatory developments and advocate on issues relevant to the commercial insurance industry.
The association’s work complements the efforts of other industry associations for the betterment of our members, benefiting the property/casualty insurance industry and our clients.
GCIA provides a forum for discussion of various industry issues and allows foreign-owned commercial insurers to have a voice on these issues. GCIA facilitates research into areas of interest to its members and advocates on behalf of it’s members. GCIA members collectively represent 52% of all commercial insurance premiums in Canada (based on 2015 reported data).
