The Canadian Franchise Association (CFA) lists over 600 corporate entities in over 50 different sectors among its membership base. While these chains include many well-established business segments such as hospitality, quick service food, etc., it is by no means limited to conventional venues.
In fact, as a carrier specializing in franchise coverage, Wynward Insurance Group has written policies for such accounts as niche business and professional services and retail.
These enterprises not only vary drastically in operation, but also across Canada. While the vast majority of CFA members are headquartered in Ontario, 34% or more also operate from coast to coast.
“We are up against every insurer that operates in Canada due to the variety of types of business models that can fall under the franchise banner. It’s a pretty well-spread class,” said Rick Swanarchuk, Vice President, Broker Distribution, Marketing and Regional Operations, Wynward Insurance Group.
Wynward is well-suited to this market because of its prevailing emphasis on commercial lines. Unlike other insurers, Wynward is almost exclusively focused on business and enterprise, which allows it to establish a common platform for franchises while tailoring policies to each chain’s individual needs.
“Our commercial focus flows right down to the people and structure we have in place, and the culture we’ve set up surrounding experienced commercial underwriters with specialized knowledge,” said Ken Bolt, National Manager, Underwriting Operations, Wynward Insurance Group.
In fact, since Wynward is a committed CFA support services member, these underwriters are able to remain at the forefront of developments in the franchise arena. This one-of-a-kind partnership provides them with unique insights to stay ahead of the curve in product offerings and expertise.
“That’s really key. CFA members know that they’ve got an insurer supporting their cause, and we also make ourselves available to make sure we can answer any of their questions in tandem with our broker partners,” Swanarchuk said.