Zenith Insurance Canada Car Insurance Rates Review & Ratings

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Zenith Insurance Canada
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Zenith Insurance Services Inc is rebranded as TruShield Insurance Services Ltd. They offer personal and business insurance services and products. The McLennan Group Insurance Inc offers small business policies and Northbridge General Insurance Corporation underwrites those policies. TruShield Insurance Services Ltd offers personal lines insurance and Northbridge General Insurance Corporation, Zenith Insurance Company or Northbridge Personal Insurance underwrites those policies too as per the provinces.

TruShield Insurance is a partner of many organizations such as Soho, Canadian Franchise Association, Enterprise Toronto, Direct Sellers Association, Small Business BC, Mompreneurs etc.

With the way that insurance companies grow through merger and acquisition, it can sometimes get a bit byzantine trying to follow the ins and outs of which companies are connected and how. Add to that agreements in which underwriting companies issue policies in the background for a marketing company, well, it gets very confusing. Such is the case with Zenith Insurance in Canada. There’s a group insurance company also called Zenith in the United States, and that American company is in turn owned by a Canadian firm that, on the surface, seems to have no connection to Zenith Canada.

Lombard Canada

Lombard Canada Limited is a holding company with subsidiaries Zenith Insurance, Lombard Insurance and the Lombard General Insurance Company of Canada. With a history going back to 1804, Lombard is one of the longest-serving insurance companies in Canada, issuing their first policies in Halifax, Nova Scotia. In turn, Lombard Canada Limited is a subsidiary of Northbridge Financial Corporation, located in Toronto.

Northbridge Financial Corporation

Insurance companies wholly owned by Northbridge Financial Corporation include Northbridge General Insurance Corporation, Northbridge Personal Insurance Corporation and Northbridge Commercial Insurance Corporation. Along with Zenith, some of these entities underwrite personal insurance for yet another company.

TruShield Insurance

Finally, we come to TruShield Insurance. Focusing on small business insurance, including home based small businesses, TruShield is the face of the complex corporate structure that includes Zenith Insurance. TruShield offers:

  • Home-based business insurance
  • Professional services insurance
  • Contractor’s insurance
  • Retail and shop insurance
  • Personal insurance for home and auto

The commercial and small business policies available from TruShield are offered by The McLennan Group Insurance Inc., and underwrittend by Northbridge General Insurance Corporation. Personal insurance is offered by Trushield Insurance Services Ltd., and underwritten by the Northbridge Personal Insurance Corporation, Northbridge General Insurance Corporation and Zenith Insurance Company.

Fairfax Financial Holdings

Financial Holdings

Though it seems that Northbridge Financial Corporation is the top of the pyramid, it is in fact wholly owned by Fairfax Financial Holdings. Northbridge brings assets of $5.6 billion to Fairfax, while writing $1.3 billion annually in premiums.

Remember Zenith, USA, the group insurance company mentioned in the intro? You’re right if you guessed that Zenith in the U.S., called “The Zenith” in that market, is also owned by Fairfax. The Zenith provides agribusiness insurance in California, as well as worker’s compensation insurance.

Fairfax is a holding company intended to earn a high rate of return on its subsidiary businesses for the purpose of building investment capital and long term value for its shareholders. Its primary focus is property and casualty insurance and reinsurance, and investment management. Its subsidiary companies work autonomously to keep markets separate, and therefore managing investment risk for the parent company.

Zenith Car Insurance Market Share Review

Zenith Insurance Company  Market ShareQuarterYear
0.33%Q32016
0.37%Q12016
0.35%Q42015
0.39%Q12015
0.41%Q42013
0.41%Q22013
0.41%Q22012
0.41%Q12012
0.41%Q32011
0.40%Q42010
0.40%Q22010
0.37%Q12010

2010-2011 Market Share Review

Zenith Insurance did not have any rate filing approval in the 3rd quarter of 2010. The market share was 0.37% in the 1st quarter of 2010. This marginally increased to 0.40% in the 2nd quarter of 2010 and was stable in the 4th quarter of 2010. They did not have any rate filing approval in the 1st, 2nd and 4th quarters of 2011. Their market share was stable at 0.41% in the 3rd quarter of 2011.

2012-2013 Market Share Review

They did not have any rate filings in the 3rd and 4th quarters of 2012. The market share still stayed stable at 0.41% in the 1st and 2nd quarters of 2012. This trend continued for the 2nd and 4th quarters of 2013. There were no rate change approvals filed in the 1st and 3rd quarters of 2013.

2014-2016 Market Share Review

There was no rate change approval in 2014. The market share declined to 0.39% in the 1st quarter of 2015 and continued to marginally decline to 0.35% in the 4th quarter of 2015. They did not file for rate change approvals in the 2nd quarter of 2015. Their market share marginally increased to 0.37% in the 1st quarter of 2016. Zenith market share dropped to 0.33% in the 3rd quarter of 2016.

Zenith Car Insurance Rate Changes Review

QuarterYearZenith Insurance Company Rate Change Approved %
Q32016-0.28%
Q12016-4.48%
Q420153.79%
Q12015-0.53%
Q42013-0.44%
Q220131.01%
Q220120.00%
Q120125.02%
Q320111.97%
Q420103.04%
Q22010-0.03%
Q120100.00%

2010 – 2011 Rate Change Review

Zenith Insurance did not file for rate changes in the 3rd quarter of 2010. There was no change in rates approved in the 1st quarter of 2010. The rate change approved in the 2nd quarter of 2010 declined by 0.03%. There was an increase in the rate change approved in the 4th quarter of 2010 by 3.04%. They did not file for rate change approval in the 1st, 2nd and 4th quarters of 2011. Their rate change approval increased by 1.97% in the 3rd quarter of 2011.

2012 – 2014 Rate Change Review

There was no change in the rate change approved in the 2nd quarter of 2012. The rate change approved in the 1st quarter of 2012 increased by 5.02%. They did not file for rate change approvals in the 1st and 3rd quarters of 2013. In the 2nd quarter of 2013, the rate change approval increased by 1.01%. There was a marginal decline by 0.44% in the 4th quarter of 2013. Zenith did not file for rate change approval in 2014.

2015 – 2016 Rate Change Review

They did not file for rate change approval in the 2nd and 3rd quarters or 2015. Their rate change approved in the 1st quarter of 2015 declined by 0.53% and in that quarter 39 insurance companies filed for rate change approvals. They were representing 73.48% of the insurance industry. There was an increase in the rate change approval by 3.79% in the 4th quarter of 2015 and about 21 insurance companies filed for a rate change in the same quarter. They represented 51.23% of the market.

There was no rate change approval in the 2nd quarter of 2016. In the 1st quarter of 2016, the rate change approval decreased by 4.48% and 50 insurance companies filed for rate changes. They were representing 83.36% of the industry. Zenith rate change approved declined by 0.28% in the 3rd quarter of 2016 and about 25 insurance companies filed for rate changes. They represented 63.56% of the insurance market. There is no data yet for the last quarter of 2016.

Zenith Auto Insurance Discounts

Zenith Insurance gives you discounts on your car insurance policy for several criteria. If you are a driver with the good driving record then you may get a discount for being a safe driver. When you insure all your cars with Zenith then you may get a discount. If you have a clean record with no convictions for past 3 years then you may get a discount. When a driver progresses to a G or G2 license and is aged less than 25 years then that driver may get a discount. In case you bundle your home and car insurance policies then you may get a discount.

Optional Coverage You May Consider Buying With Zenith

Zenith Insurance offers mandatory car insurance coverage. All insurance policies have legal and trauma assistance at no extra charge. You may also purchase additional coverage for more protection in case of a loss. Accident Forgiveness coverage protects the driving record even if you have an at-fault collision for the first time. Depreciation waiver protects the value of your new car. Roadside assistance coverage pays for towing and roadside assistance costs.

Zenith Car Insurance Cancellation Policy

If you wish to cancel your auto insurance policy then you may inform your broker. As per your policy term they may issue a refund. When you cancel your policy at midterm then you may pay a cancellation fee.

Making Zenith Car Insurance Claim

To report a car insurance claim you may call 1855-629-1213 and the claims department is available 24/7. You may also submit you claim online using the form on the website.

How Can I Get Zenith Car Insurance Quote

You may call 1844-429-9480 to get an auto insurance quote from an advisor. The advisor may ask for some information such as vehicle details, address, annual mileage, driver license, the number of drivers, vehicle use etc. There is also an option to fill a form online to get a quote and a representative will call you with your quote.

Contact Methods For Zenith Insurance

Phone: You may call 1844-429-9480.

Mail: The mailing address to send your documents is 105 Adelaide Street West, Toronto, ON   M5H 1P9.


Disclaimer

We are not affiliated and make no representations or warranties, recommendations or endorsements of Zenith Insurance. This article is our review of Zenith Insurance for information purposes only.  The logos, trademarks, and copyrights mentioned in this article belong to the Zenith Insurance.


References:

https://www.fsco.gov.on.ca/en/auto/rates/pages/default.aspx

http://www.privilege50.com/

https://www.trushieldinsurance.ca/home-and-auto-insurance/car-insurance/


 

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