Commonwealth Insurance Company

Commonwealth Insurance Company
595 Burrard Street
Suite 1500
P.O. Box 49115
Bentall Tower III
Vancouver, BC V7X 1G4

Commonwealth Insurance Company, a Fairfax Financial Holdings, Ltd. and Northbridge Financial Corporation subsidiary, is an insurance firm composed of world-class and experienced professionals dedicated to aid business and industrial organizations, including assembly, manufacturing and processing, in Canada and the United States. It specializes in properties underwrites, industrial and commercial liability risks, as well as technical risks. In addition, it also offers risk management, loss prevention services, and competitive compensations such as comprehensive expanded dental, disability, health and life insurance.

Established in 1947, Commonwealth had already expanded its services to various property insurance, but not limited to conglomerates and multinational companies, such as commercial, construction, fishing, food production, forestry and woodworking, mining, institutions, transportation and distribution, tourism and recreation, and utilities markets.

“Insurance professionals dedicated to business and industry” – this is the philosophy of this Commonwealth and was made possible by its top executives and employees such as president and chief executive officer Tim Ius, chief financial officer Stewart Woo, Casualty senior vice president and Casualty Underwriting Division head William G. Stugis, executive vice president of Claims Dennis Shave, Canadian Property Underwriting Division Head Richard Still, to name a few. Also, the company’s philosophy was influenced by its three-core values, namely, integrity, responsiveness, and loyalty.

What makes the 200-man powered Commonwealth one-of-a-kind is its ability and commitment to manage three underwritings, namely, loss prevention, casualty and property claims, and brokers which enables it to provide quality and long-term protection and service to its clients.

In terms of loss prevention, Commonwealth has its Loss Control Consultants on call 24/7 to help clients identify and assess risks and possible solutions, plus a discussion on cost-effective tips and suggestions to prevent losses. On the other hand, settling claims, like casualty and property claims, is the top and utmost priority in order to restore the policyholder’s business as soon as possible, as well as to protect the stakeholder’s value. With experienced claims professionals on board, reviving claims will be a nutshell to clients, thus giving them the all-important satisfaction. Lastly, Commonwealth’s broker partners are scattered all throughout U.S. and Canada in order to help the insured develop solutions. They are trained to manage Special Risks operations.