Aviva Canada

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Aviva Canada Inc.
IndustryInsurance
HeadquartersMarkham, Ontario
Key people
Colm Holmes, CEO[1]
ServicesHome, Auto, Specialty and Business Insurance
Number of employees
approx. 4,000 (2016)
ParentAviva plc
Websitewww.aviva.ca
Aviva Canada's headquarters in Markham

Aviva Canada Inc. is a Canadian property and casualty insurance company and a wholly owned subsidiary of the UK-based Aviva plc.[2] It provides home, personal, automobile, recreational vehicle, group and business insurance to more than three million customers.[3] The group has around 4,000 employees, 30 locations and 1,700 independent broker partners.

History[edit]

Aviva Canada came to fruition as a result of multiple acquisitions and rebranding, including the rebranding of Pilot Insurance Company and Scottish & York Insurance Co. Ltd. In 2008, the company announced that these companies will now operate as Aviva Pilot and Aviva Scottish & York.[4] Other companies in the Aviva Canada group of companies include: Elite Insurance Company (also known as Aviva Elite), Traders General Insurance Company (also known as Aviva Traders) and S&Y Insurance Company.[5] The company also has financial ownership of insurance intermediaries including Ontario Insurance Service Limited (OIS), Insurance Agent Service Inc. and Wayfarer Insurance Brokers Limited.[6] In April 2009, Aviva Canada announced its agreement to acquire the business of National Home Warranty Group of Companies[7]

On 26 February 2014, the company announced that it would be relocating its headquarters to a new 12-storey office building located in Downtown Markham.[8] The building is slated to be completed in June 2017.

In June 2013, Aviva Canada was faced with one of the costliest natural disasters in Canadian history: "days of torrential rain inundated the city of Calgary, Alberta, and surrounding areas. The Bow and Elbow Rivers overflowed their banks, causing the evacuation of 26 neighborhoods and 100,000 people. Four died, and a state of emergency was declared in 32 communities."[9] Insurable damages amounted to more than $1.7 billion.

On January 21, 2016, the company announced the acquisition of RBC General Insurance Company, for CAD$582 million.[10] Since that time, Aviva Canada has been criticized for its ruthless bottom-line approach to dealing with its customers' home and auto insurance claims. In contrast to RBC Insurance, customers have alleged that Aviva routinely and knowingly undervalued total loss auto claims, and plotted to terminate tenured RBC Insurance policies despite their good standing allegedly due to their lower deductibles and premiums.[11][12][13]

Nonstandard insurance products[edit]

Hole-in-one insurance[edit]

In March 2007, Aviva Canada began to offer "hole-in-one insurance" to organizations that sponsor golf tournaments across Canada.[14] The Hole-in-One insurance product allows tournament organizers to offer a cash (or equivalent) prize to anyone who makes a hole-in-one on one of the par 3 holes. The product is coupled with an online quoting tool that can provide a quote in less than 15 seconds for insurance limits from C$5,000 to C$50,000.[15]

Hybrid vehicle discount (Quebec only)[edit]

Effective June 1, 2006 Aviva policyholders in Quebec who drive hybrid vehicles received a 10% discount. [16]

References[edit]

  1. ^ https://www.aviva.com/newsroom/news-releases/2018/01/ColmHolmesandRobTownendtakeupnewAvivaroles/
  2. ^ "Archived copy". Archived from the original on 2010-10-04. Retrieved 2009-05-21.
  3. ^ http://www.insurancego.ca/insurance-reviews/aviva-insurane-reviews.php
  4. ^ http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=44058&cat=149&IdSection=149&PageMem=&nbNews=&IdPub=
  5. ^ "Archived copy". Archived from the original on 2006-10-23. Retrieved 2009-05-21.
  6. ^ "Archived copy". Archived from the original on 2006-10-23. Retrieved 2009-05-21.
  7. ^ http://www.insurance-canada.ca/business/canada/2008/Aviva-acquires-National-Home-Warranty-804.php
  8. ^ http://www.newswire.ca/en/story/1313467/aviva-canada-selects-downtown-markham-for-new-head-office
  9. ^ Get the full picture when disaster strikes, SAS Institute. Retrieved, 5 November 2015
  10. ^ https://www.avivacanada.com/article/aviva-canada-announces-acquisition-rbc-general-insurance-company
  11. ^ https://insureye.com/Reviews/Auto-Insurance-Reviews/2-Aviva
  12. ^ http://aviva-insurancecomplaints.com/
  13. ^ https://www.bbb.org/ca/on/markham/profile/insurance-companies/aviva-canada-inc-0107-1133528/complaints
  14. ^ http://www.insurance-canada.ca/poladmin/announce/2007/Aviva-hole-one-insurance-704.php
  15. ^ http://www.avivaholeinone.com/
  16. ^ http://www.insurance-canada.ca/auto-products/auto-providers/Aviva-hybrid-discount-605.php[permanent dead link]

External links[edit]