Two US insurers announced in the Canada Gazette that they would be entering the Canadian market.
Property and casualty insurer Privilege Underwriters Reciprocal Exchange and pet insurance specialist Trupanion Inc. both published notices in the Canada Gazette conveying their intention to begin insurance business in Canada.
Privilege Underwriters Reciprocal Exchange plans to file an application with the Superintendent of Financial Institutions to "insure risks.” It made the announcement on Jan. 9.
In the published notice, the Fort Lauderdale, Florida-based company said it plans to file the application on or after Jan. 30.
"Privilege Underwriters Reciprocal Exchange is a property and casualty reciprocal exchange and intends to insure personal lines property and casualty risks in Canada, including those falling under the classes of property, liability and automobile insurance," the government publication says.
Its chief agency would be located in Toronto, Ontario. It would operate under the same name in Canada, but would be known as PURE Assurances in French.
Trupanion has announced that it intends to apply to the federal Minister of Finance to incorporate a new insurance company.
To do so, the company would need to obtain "letters patent,” the notice states. The company "intends to carry on a specialty property insurance (pet insurance) business.”
Trupanion would operate in Canada under the name GPIC Insurance Company, with its head office in North Vancouver, British Columbia.
The US insurer, however, points out that "the publication of this notice should not be construed as evidence that letters patent will be issued to incorporate the insurance company.”
