And the Excellence in Professional Liability Award Goes To…

And the Excellence in Professional Liability Award Goes To…

By Sara Ametrano

 

Over the last several months, Insurance Business Canada has been on a mission to determine the leading carriers for professional liability coverage in the country. Trisura is happy to report that we have made the inaugural list!

“We are thrilled to be recognized as a Five-Star Carrier for professional liability,” Marilyn vanGansewinkel, Trisura’s senior vice president of specialty insurance solutions says. “Trisura always strives to create positive experiences for our broker partners, providing tailored solutions to meet their unique needs.”

To determine the winners, the magazine conducted extensive research, surveys and one-on-one interviews with brokers to determine the nation’s leading professional liability providers. Information was gathered for a variety of categories, and Trisura is one of just two organizations to be selected as a top carrier for all of the categories:

  • Private E&O
  • Private EPLI
  • Private D&O
  • E&O Lawyers
  • E&O Design
  • E&O Accountants
  • E&O Medical
  • E&O Construction
  • E&O Non- profit
  • Public E&O
  • Public EPLI
  • Public D&O
  • Claims
  • Underwriting

What is professional liability insurance?

Professional liability insurance protects against allegations of negligence in the performance of a business’ professional services. The client may seek financial compensation if they believe the organization failed in their professional services that caused a financial loss.

What Trisura can do:

As we do with our other products, Trisura can tailor the professional liability coverage to fit each specific class of professional that we insure. Trisura takes a unique approach to all claims and provides expertise and solutions so organizations and individuals can quickly return to their business.

About the Insurance Business Canada Five-Star Carrier in Professional Liability Awards:

Over the span of 15 weeks, Insurance Business Canada conducted research, surveys and interviews with thousands of brokers to determine the country’s top carriers. The criteria used for scoring carriers included: relationships between parties, ability to handle claims, underwriting expertise and the products provided. Access the complete list of winners and more information on the awards here.

To learn more about Trisura’s professional liability coverage, click here. Or, talk to one of our experts today! Contact us.

Trisura Guarantee Insurance Company remains a Full Partner of the Broker Identity Program for 2021

Trisura Guarantee Insurance Company remains a Full Partner of the Broker Identity Program for 2021

The following is a press release published by the Insurance Brokers Association of Canada.

Toronto, February 22, 2021 – The Insurance Brokers Association of Canada (IBAC) is pleased to announce that Trisura Guarantee Insurance Company has maintained its support of the Broker Identity Program (BIP) at the Full Partner level.

Trisura’s sponsorship will support IBAC’s Broker Identity Program (BIP), a national advertising campaign that raises awareness of the significant value that insurance brokers provide for their clients – choice, advice and advocacy.

In addition, their investment will contribute to important IBAC initiatives including IBAC’s technology leadership, professional development of the broker workforce, and our strong and effective federal advocacy to maintain the separation of banking and insurance, which protects consumers and promotes a fair and competitive marketplace.

“For Trisura, Covid-19 has underscored the importance and value that brokers provide to insureds and insurers alike. Trisura strives to provide our brokers with an exceptional experience and to be their consummate partner, and today’s environment has intensified this critical mission,” said Chris Sekine, Trisura’s President & CEO. “We believe that IBAC’s Broker Identity Program plays a critical role in supporting insurance brokers across Canada and we are proud to continue our participation as a Full Broker Partner.”

“Now more than ever, insurance brokers are going above and beyond to assist their customers. Trisura’s renewed investment recognizes the essential role of the broker, and we greatly appreciate their continued partnership and support,‘’ said Peter Braid, IBAC’s Chief Executive Officer.

About Trisura Guarantee:

Trisura Guarantee Insurance Company is a Canadian specialty insurance and surety company with offices across Canada, providing customized solutions and expertise through a select broker network. Trisura Guarantee is uniquely positioned to satisfy Canadian risks in Contract, Commercial and Developer Surety, Directors’ and Officers’ Liability, Fidelity, Professional Liability including Media and Cyber Liability and Warranty products.

Trisura Guarantee Insurance Company is a subsidiary of Trisura Group Ltd., a leading international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company, Trisura International Insurance Ltd. and Trisura Specialty Insurance Company. Trisura is listed on the Toronto Stock Exchange under the symbol “TSU”.

About IBAC:

Founded in 1921, the Insurance Brokers Association of Canada is the national voice of over 38,000 property and casualty insurance brokers, advocating for the interests of both insurance brokers and consumers to the Government of Canada. The Broker Identity Program (BIP) was launched in 1988 to promote the value and professionalism of the insurance broker to consumers, insurers and governments.

For further information, please contact:
Denys Bégin, Manager, Marketing & Communications
Insurance Brokers Association of Canada
416-367-1831 ext. 160 or dbegin@ibac.ca
www.ibac.ca

Executive Outlook 2021: Chris Sekine, Trisura

Executive Outlook 2021: Chris Sekine, Trisura

Originally Published by Canadian Underwriter, December 23, 2020.

President and CEO, Chris SekineChris Sekine, President, CEO, Trisura Guarantee Insurance Company

COVID-19 has affected most businesses, and the insurance industry is no exception. Businesses are operating in a more uncertain environment than ever before. Insurers and reinsurers have adjusted underwriting appetites, which has influenced portfolios, available capacity, and pricing. Given current hardening conditions, we expect industry results to gradually improve. For many businesses, near-term results will be contingent on government support in response to the pandemic and the potential for further lockdowns.

Insureds are navigating challenging industry dynamics. The pandemic, combined with the hard market, amplified the need for brokers and their value. This is true for both insureds and insurers, and especially those with complex commercial risks. Trisura is a broker-driven company and we are working closely with our broker partners to navigate these turbulent times.

We expect the risk tolerance of businesses/insureds to evolve. Cyber risk is a good example of an exposure that businesses may not have appreciated. As cyber attacks have increased through COVID-19, businesses are looking to the insurance industry to help manage this risk.

We expect many business trends established before COVID-19 to return and business operations will resume much as they were pre-pandemic. For example, we anticipate a return to working in-office and in-person interactions with our brokers and partners. Although most companies successfully transitioned to working remotely, we don’t believe that is sustainable in the long run. Businesses rely on personal relationships. Virtual meetings are a great temporary measure, but they simply can’t replace in-person meetings.

That being said, the success of remote working arrangements will provide a broader tool set to employers and employees. For those with appropriate job functions, employers should offer flexible working arrangements.

Embracing technology will enhance productivity and collaboration of established operating norms. What hasn’t changed is that good people are the very core of a successful business.

Underwriter of the Year – Emily Thompson

Underwriter of the Year – Emily Thompson

Headshot of Sr. Underwriter Emily ThompsonThis year’s Insurance Business Canada awards may have taken on a different format, but there was no denying that the excitement could be felt through the entirety of the event. The event celebrates the insurance industry, recognizing organizations and professionals for their dedication and achievements. And we are proud that a member of Trisura’s talented team was selected as the 2020 Underwriter of the Year!

Emily Thompson, a senior underwriter for Trisura, has been in the insurance space for seven years. Throughout her career, she has been eager to learn and grow, and is now often consulted for her expertise in the surety space by both clients and peers alike. As 2020 has proven to be a year full of unique challenges, Emily has been integral in Trisura’s approach towards working through the pandemic, maintaining a sense of consistency and continuing to offer unique solutions for industry partners.

Congratulations, Emily, on this much-deserved accolade!

We chatted with Emily about her professional journey so far. Below, she delves into how she got started in the industry, the help she has received and her advice for potential industry newcomers.

Trisura: What is your favourite part about working as an underwriter in the surety space?

Emily: Without a doubt, the people. The surety industry is very people-driven and working collaboratively with great people across our industry makes the work exciting. Every client is unique, and we are often presented with scenarios where a traditional approach might not work. I find that through collaboration, both internally and with our external partners, we can arrive at a positive outcome for everyone. It’s exciting to deliver a tailored solution and enjoy in that success with others.

Trisura: What drew you to the industry?

Emily: As a math and business student in university, surety underwriting intrigued me with its combination of financial analysis, understanding a business’ health and the teamwork involved between the surety, broker and client. But while the numbers tell part of the story, listening to a client proudly tell the story of their business and their past successes builds a strong connection with the client, and gives me, as an underwriter, a glimpse into their world. Getting to know the people in a business provides a great insight into how they operate and how I can best support them. The analytical part of the job drew me in, but its the people I have met that make the industry a great field to work in.

Trisura: How has the pandemic impacted your role, and have you implemented a new approach in conducting business with your brokers?

Emily: The pandemic has had a big impact! To me, the most important thing has been maintaining strong communication. Everyone is managing more uncertainty than ever, while also navigating a new work environment and managing multiple priorities. Maintaining transparency and open communication has been important to me in conducting business. I also aim to ensure the way we operate continues to be consistent and offer stability.

Trisura: Do you have a mentor? If so, what sort of impact has he or she had on your professional development?

Emily: I have had a number of mentors over the past few years at Trisura. Each of them has taught me a lot about the industry, underwriting, communication–you name it. They’ve also given me a lot of room to practice new skills and throw myself into new projects, learning more along the way. I can’t thank those mentors enough for allowing me many opportunities to grow both as an underwriter and a person. There is always more to learn, and I am excited to continue to do so, with the support of some great people at Trisura and throughout the industry.

Trisura: What advice would you give to someone considering a career in insurance?

Emily: Dive in and be curious. For me, I was looking for a career in a field relating closely to my math and business background. I hadn’t considered insurance seriously, until my second co-op term with Trisura when I started in surety underwriting. In the first few days, I quickly saw how interesting the business was and began asking questions and soaking up information. As I immersed myself in the industry, it opened doors that I didn’t even know existed. There is always something more to learn, and I’m excited to see what more is in store!

Happy Holidays from Trisura!

Happy Holidays from Trisura!

Happy Holidays 2020

Dear friends,

Thankfully we are nearing the end of what has been a challenging year. Regardless of your traditions, we will all spend the holiday season differently this year. What will remain consistent is the holiday spirit and it being a time for hope, rest and reflection. There is much hope for 2021 as vaccines should be made available to many. Please encourage your friends, family and colleagues to remain resilient and to be patient as there is light at the end of the tunnel.

As Trisura looks to 2021, we are committed to our brokers and striving to be a step above. This past summer many of our brokers graciously completed our survey and provided us with valuable insights. Your message to us was clear:

  • You trust Trisura and rely on us for consistency, strong personal relationships, enthusiasm, our willingness to listen and collaborate, being solutions focused and remaining a broker-only company;
  • We must remember our roots and maintain the identity that has brought success as we continue to grow our specialty lines company, while keeping an entrepreneurial spirit that cares and provides unparalleled service;
  • You want more of Trisura, which includes capacity, products and great people.

As we create our roadmap for the future, your insights will form the foundation of our plans. Although 2020 has been a challenging year on many fronts, for Trisura it was transformative in many ways. The pandemic sharpened our focus, and my great colleagues at Trisura soldiered on and continued to deliver. We raised a significant amount of capital to facilitate the growth of our business, increased our revenue base in Canada by almost 60% through the third quarter, planned and announced our January 2021 entry into the U.S. surety market and facilitated new insurance capacity in Canada through unadmitted reinsurers, all while delivering an industry-leading combined ratio of 85%.

Last year at this time (pre-covid) I shared a passage entitled “Man in the Arena,” which was an address delivered by Theodore Roosevelt in 1910. In 2020 I have replaced the word man with person. As a reminder, it goes like this:

It is not the critic who counts; not the person who points out how the strong person stumbles, or where the doer of deeds could have done them better. The credit belongs to the person who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends themself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if they fail, at least fails while daring greatly, so that their place shall never be with those cold and timid souls who neither know victory nor defeat.

I can think of no better time to recite this passage. For Trisura, this passage rings true; especially during the pandemic. I hope it helps to inspire you as it has for us. Our team stayed in the arena and you can always count on us being there, helping you succeed and striving to create an exceptional experience.

Thank you for continuing to place your trust in Trisura and in our people.

There is much to look forward to in 2021 and I am hopeful there are better times ahead. May the holiday season provide you with some respite. From our families to yours, we wish you a happy and safe holiday season and good health and success in 2021.

Best wishes,

Chris

Trisura Group Ltd. Appoints George R. James to Lead U.S. Surety Operations

Trisura Group Ltd. Appoints George R. James to Lead U.S. Surety Operations

Oklahoma City, Oklahoma, NOVEMBER 30, 2020 – Trisura Group Ltd. (“Trisura”) (TSX: TSU) is pleased to announce the appointment of George R. James as Chief Underwriting Officer, Surety, for the organization’s new U.S. surety platform. This appointment will be effective January 4, 2021. George will lead Trisura’s entry into the U.S. surety market and head its U.S. surety operations.

George R. James to lead Trisura U.S. surety operations.

George is a seasoned surety leader with 25 years of experience, extensive market knowledge and deep-rooted relationships across the United States. George’s career includes 14 years in executive leadership positions at International Fidelity Insurance Company (“IFIC”), including the role of Executive Vice President and Chief Underwriting Officer. At IFIC, George was instrumental in the strategic positioning and operations of the company and delivered consistent and profitable underwriting results. In addition, George was a past Chair of the Commercial Surety Advisory Committee of the Surety & Fidelity Association of America. Trisura looks forward to drawing on George’s leadership capabilities as we expand in the U.S. market.

With the launch of Trisura’s U.S. surety operations, agents and brokers will be able to access a North American platform including Trisura’s Canadian operations, currently the third-largest surety provider in Canada. Trisura’s North American platform will leverage the strong underwriting track record and profitability of the Canadian group in addition to the established infrastructure including an innovative online portal and e-bonding platform. Consistent with Trisura’s strategy, the U.S. surety platform will partner with a select agent and broker network and will offer custom solutions and experiences that are always “a step above.”

Chris Sekine, responsible for Trisura’s global surety platform and President and CEO of Trisura Guarantee Insurance Company, expressed his excitement about the new addition: “I’ve known George for 15 years,” said Chris. “His passion for the surety industry has allowed him to consistently deliver above-market results over his career. George knows the importance of building and strengthening relationships and is committed to providing agents and brokers with an exceptional experience. I’m eager to see our U.S. surety operation launch and grow under George’s leadership.”

 

About Trisura:

Trisura is a leading international specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Specialty Insurance Company in U.S., Trisura Guarantee Insurance Company in Canada and Trisura International Insurance Ltd. in Barbados. Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol “TSU.”

Further information is available at https://www.trisura.com/group. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group Ltd. are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group’s SEDAR profile at www.sedar.com.

For more information, please contact:
Bryan Sinclair
Tel: (416) 607-2135
Email: bryan.sinclair@trisura.com