Bridging the Gap for Professional Associations in Canada

Professional associations advance industries and support careers by connecting people with similar interests and providing networking opportunities and resources for professional development. Members also receive group support and advocacy. Running an association comes with its own set of risks and challenges, however, which makes insurance essential.

The absence of a Canadian marketplace to bring together insurance specialists and program administrators creates a gap for organizations and professional associations alike. The lack of a national marketplace limits the options for association members and makes it harder to compare the expertise of those handful of insurers who have the capability to provide an insurance solution for programs. Like most businesses, associations prefer a single carrier that provides a comprehensive insurance product and customized program underwriting rather than partnering with multiple carriers for adequate insurance coverage.

Here’s what we know:

1. Trade and industry associations, franchises, buying groups and individual businesses are homogeneous in nature, but each has unique exposures.
2.  In Canada, there is a lack of consistent governance and administrative support for professional associations seeking insurance.
3. Professionals can span multiple industries and disciplines. That’s why it’s important for a carrier to have specialized expertise for each industry segment – to adequately protect the members of that association.

How does CNA Canada bridge this gap in insurance options?

1. We have a dedicated team that specializes in Programs business, developing customized coverage solutions that utilize multiple online platforms to support the underwriting and administrative processes.
2. We are backed by several trade and professional associations and provide national and regional programs across a range of industries, including healthcare, professional services, real estate and technology.
3. Each association is different. We understand how important the MGA/U model is and the need to prioritize individual program management. By working closely with our MGA/U partners, we create strategies that drive profitable performance.
4. Thinking big and long-term is key as we champion a broad risk appetite for businesses small to large.
5. We create our own confidence in the market with the support of Risk Control consultants, who hold specialized designations and certifications from accredited industry organizations, as well as Claims experts who provide fair, efficient and transparent resolutions.

By adapting to market needs and building consumer confidence through consistency and support, CNA Canada creates successful, comprehensive solutions for associations both growing and established. That way, professionals can focus on what matters most – their practice.