Canadian franchise owners and operators have enough stresses without wondering whether their insurance provider will protect against the array of damages that can befall their brand. This is why they turn to Wynward Insurance Group.
“There’s an incredible peace of mind captured when all outlets are on a standardized program with superior coverage that addresses their needs,” said Rick Swanarchuk, Vice President, Broker Distribution, Marketing and Regional Operations, Wynward Insurance Group.
While other carriers in this market offer just one customary solution, Wynward supplements its sophisticated platform with customizable policies tailored to each franchise’s segment of business and individual needs. This includes addressing any coverage gaps with extension supplements, and can even include negative publicity coverage to mitigate any reputational risks that may arise.
What is also reassuring for franchise owners is Wynward’s AM Best rating. While the A (Excellent) designation is impressive in and of itself, it also serves as a distinguishing factor for franchises requiring this financial strength standard in the marketplace.
“A lot of these franchise models are dealing with suppliers or vendors who make the request that if they’re going to do business together, the franchise be supported by a financially strong insurance provider,” Swanarchuk said.
For all of these reasons, the future is bright for Wynward Insurance Group.
“We’ve probably only scratched the surface here in these first two years of offering this coverage,” said Swanarchuk. “It’s a leading product, but it’s still in its infancy in the sense that there’s an entire magnitude of growth ahead of us.”
National Manager, Underwriting Operations Ken Bolt also sees a promising future for this commercial line.
“The franchise vertical is growing, which even beyond the published statistics, you can see these national and international brands popping up on streets in every Canadian city. As more and more of these brands, chains, and franchises enter the market, we’re excited to be there to partner with them,” said Bolt.