New BC-based 2-5-10 Home Warranty Company
to be named “WBI Home Warranty Ltd.”
Burnaby, BC – January 11, 2011 – Today, Wilson M. Beck Insurance Services Inc., a market leader in construction insurance and surety in British Columbia, announced that its new 2-5-10 Home Warranty company will be named WBI Home Warranty Ltd. (WBI).
Last summer, Wilson M. Beck and RSA, a leading Canadian property and casualty insurer, announced that they will be forming a new partnership. Under the proposed terms, WBI will act as the exclusive distributor and administrator in B.C. of the 2-5-10 Home Warranty product, which will be underwritten by RSA.
“This is a natural pairing of two strong insurance players in the BC marketplace” said Shawn DeSantis, Senior Vice President RSA. “It will return RSA to the 2-5-10 Home Warranty market and further our existing commitment to residential construction in the province”.
WBI will open for business early in 2011 and will target established multi-family, subdivision, and single family builders and developers as well as building envelope contractors and engineers. WBI will provide clients with a seamless platform to navigate through the entire development insurance and home warranty process from sign up and project enrollment to the reporting and management of inspections and claims.
About Wilson M. Beck Insurance Services
Wilson M. Beck Insurance was incorporated in 1981 as a general insurance broker with an emphasis on providing bonding and insurance to the construction industry. Today, we have expanded to include an office in the Okanagan and we are one of the largest privately-held brokers in British Columbia specializing in providing insurance and surety solutions to the construction and development industry in Canada.
RSA Canada includes Roins Financial Services Limited, Royal & Sun Alliance Insurance Company of Canada, Quebec Assurance Company, Johnson Inc., Western Assurance Company, Ascentus Insurance Ltd., Canadian Northern Shield Insurance Company and is part of RSA Insurance Group plc. RSA Canada employs approximately 3,200 people and is represented by a large network of brokers across the country. In 2009, the Canadian Group wrote $1.9bn in direct premiums with assets exceeding $5.5 billion. Internationally, RSA Insurance Group plc employs about 21,000 people and has the capability to write business in 130 countries and in 2009 its net written premiums were £6.7bn.
RSA is a trade name of Royal & Sun Alliance Insurance Company of Canada.
For more information contact:
Grant Bettesworth - Wilson M. Beck
Chris Haag - Wilson M. Beck
Sarah Kennedy - RSA
416-366-7600 ext. 2987