The Product Concept
This is a specialized glass replacement and repair insurance product designed exclusively for residential and commercial premises. Coverage provides for the free replacement of exterior plain glass windows and glass panels in doors at the covered premises.
Coverage Scope: Applies solely with respect to accidental breakage of glass, or breakage caused by criminal vandalism.
Target Market
The primary target market consists of residential and commercial premises across the Province of British Columbia. This product is structured to be distributed efficiently through networks of licensed insurance brokerages.
Program History
This fundamental product model has been successfully sold in British Columbia for more than 10 years, originally as an unlicensed warranty-style product. Pending FSTOM requirements dictate that all glass repair and replacement contracts must transition into fully licensed insurance products, establishing the immediate strategic necessity for this captive formation.
Key Program Advantages
Low Combined Ratio
Historically tight underwriting leading to exceptionally profitable margins.
Highly Predictable
Pricing and models are backed by 10+ years of local, concrete loss history.
Experienced Participants
Built and managed alongside proven, sophisticated regional operators.
Minimal Administration
Streamlined operations require minimal overhead for the fronting company.
Program Details
Actuary Review
Aon Risk Solutions
Projected Combined Ratio
67%
Average includes 10% fronting estimate.
Managing Agent
JT Insurance Services (Canada) Inc.
Initial Participants
- JT Insurance Services Inc.
- Chelwood Glass Inc.
- Kristo’s Glass Services Inc.