Our Cross Border Expertise is Yours to Leverage

Flexible, Compliant Cross Border Insurance

For more than 2 decades, Excel Insurance Group has forged strong relationships with many leading independent brokers in the United States and beyond North America, both within and outside the Assurex Global Partnership we maintain. These relationships help us to collectively secure the best cross border insurance cover for our clients. Some of the independent brokers include:

Commercial insurance and risk management strategy, partners and advocates. Partners in Canadian and international commercial insurance.

Our approach to defining service scope, key roles and reporting requirements with cross border clients is highly collaborative. This enables Excel Insurance Group to be flexible and highly adaptive to the preferences of our Canadian clients and/or their U.S. or internationally-based parents.

For example, Excel Insurance Group’s role may simply involve the placement and service of a narrow set of coverage lines, or it may encompass a brand range  of technical services, such as program design, development of marketing strategy, and risk management program design and implementation.

In each Case, we adopt a communication and reporting protocol that meets the requirements of our client and our partners broker’s service team.

We Understand Canadian Regulatory Requirements

You Don’t Have to Know it All

Cross Border & Canadian Regulatory Expertise

As our cross border partners have increasingly become aware, unlicensed (non-admitted) insurance placements for Canadian risks may trigger a complex set of provincial and federal regulations, with each jurisdiction being covered by unique requirements. This has significant implications for multinational companies seeking to insure Canadian risks with non-admitted master programs.

Through careful research, experience and ongoing dialogue with regulators, Excel Insurance Group has developed a clear understanding and awareness of the requirements and potential pitfalls related to cross border businesses. We are experts at international insurance requirements at the local Canadian level.

This critical expertise enables Excel Insurance Group to provide our clients and broker partners with a valued resource to help them ensure full regulatory compliance at the lowest cost.

Fines & Penalties Are Steep

To help understand the expense, we can use an example. Unlicensed placements for risks in Alberta are typically subject to an additional provincial fee equal to 50% of the premium, along with substantial late reporting penalties. However, our tats us a licensed Special Broker can permit clients to reduce their compliance cost to 3% of the Alberta premium, when legislative requirements can be met.

Additionally, unlicensed insurance is subject to Federal Excise Tax equal to 10% of the Canadian premium. We have assisted clients with securing a full exemption of the Excise Tax from Canada Revenue Agency (CRA).