Dating back to 1804 as an insurance company based in Halifax, Nova Scotia, Lombard Insurance is one of the oldest insurance providers practicing in Canada. It continues today as part of a many-tiered international corporation with a mandate to earn high returns on its subsidiaries to both build capital for further investment and to provide its shareholders with long term value. Fairfax Financial Holdings is at the top of the ladder, and Lombard Canada is a mid-level insurance underwriter in the Fairfax family.
Under Lombard Canada Limited — itself a holding company — is Zenith Insurance Company, Lombard Insurance and Lombard General Insurance Company of Canada. Each company has its own niche in the Canadian insurance and reinsurance market.
Northbridge Financial Corporation
Lombard Canada Limited is subsidiary of Northbridge Financial Corporation, based in Toronto. Other insurance writing subsidiaries of Northbridge Financial include Northbridge Commercial Insurance, Northbridge Personal Insurance and Northbridge General Insurance. Each of these companies, along with Lombard’s insurance companies, underwrite insurance for TruShield Insurance, which seems to be the broker-level business entity for personal property and casualty insurance. Policies sold through brokers using the TruShield name are issued by some of the companies controlled by Lombard and Northbridge.
Adding to the confusion is a California based insurer called commonly, The Zenith. Specializing in insurance for agricultural businesses and worker’s compensation insurance in the California market, The Zenith is actually related to Zenith in Canada, though The Zenith is a wholly owned subsidiary of Fairfax Financial, and does not come under Lombard Insurance’s umbrella as Zenith Insurance does in this country.
TruShield is a personal and commercial insurance provider. Its commercial specialty is small business insurance. These policies are provided by TruShield through the McLennan Group Insurance Inc. In turn, the policies are underwritten by Northbridge General Insurance. Particular small-business products offered by TruShield include: home based business coverage; insurance for professional services, such as doctors and dentists; contractors’ insurance; retail outlet and shop insurance.
Personal policies are provided through TruShield Insurance Services LTD and underwritten by the Northbridge Personal Insurance Corporation, Zenith Insurance Company and the Northbridge General Insurance Corporation.
TruShield Auto Insurance
Personal auto insurance through TruShield is new to their line of products, as Zenith’s Privilege50 personal insurance products have been rebranded under the ThruShield name. This represents an expansion of TruShield’s core business, which has been on small business commercial insurance until recently. The company is known for its features that suit the specific needs of small business. Commercial vehicle insurance is tailored to specific industries within small business, without minimum coverage requirements, beyond those mandatory under vehicle licensing in individual provinces. Due to changes in vehicle insurance requirements between provinces, not all products are available in all provinces.