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Intact Insurance Buys Jevco: What It Means to You

Posted in: News | by Riders Plus | December 14, 2012

SUMMARY:

The deal whereby Intact Insurance Company purchased Jevco Insurance Company formally closed in September, 2012. In a very swift transitional process, Intact has most of the pieces in place to begin issuing new motorcycle insurance policies in Ontario under the Intact name as of January 1, 2013, and to issue Jevco motorcycle renewal policies under the Intact name as of February 1, 2013. As with all deals of this nature, eras both begin and end with these developments. We make some observations on related issues that might be of value in the article below.

Jevco Insurance is a name well known to most Ontario motorcyclists who have been around for a while. From its beginnings in 1980, Jevco became one of the largest insurers of recreational vehicles in Canada. Purchased by Kingsway General Insurance in the 1990’s, they were later sold to a company called Westaim in 2010. The sale to Intact Insurance Company in September, 2012 means that after all those years we will cease to see the Jevco name on motorcycle insurance policies in Ontario as of 2013 when all existing bike policies will be renewed under the Intact name. However, many of the Jevco staff will remain with Intact to continue to contribute their motorcycle expertise on an ongoing basis. Jevco will continue to exist as a sub-company of Intact offering high risk automobile insurance.

Intact Insurance is the largest property casualty insurance company in Canada. Known as ING Canada until 2009, Intact can be traced back 200 years to the Halifax Insurance Company, one of many former companies that are now part of Intact. With 10,000 employees Canadawide, Intact has some of the most advanced and proficient systems to assist its broker network (which now includes Riders Plus Insurance) to service its products for an ever-expanding clientele.

As a brokerage that has had a successful and constructive relationship with Jevco Insurance, Riders Plus is pleased to be part of this process. The key people from Intact Insurance who are working with us are doing a great job of making the transition smooth and seamless for our clients. We see a lot of positive developments and ideas going forward, and we will share those ideas with Ontario’s motorcycle enthusiasts as time goes on.

If you have a Jevco Insurance policy through Riders Plus and have any questions about the transition, please don’t hesitate to contact us at 1-877-251-4504 Monday through Friday, 9 am to 5 pm. We welcome your input and will remain focused on taking advantage of every opportunity to serve you even better.

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