CAA Insurance : Everything you need to know

CAA Insurance: Everything you need to know

About CAA Insurance

CAA Insurance Company was launched in 1974 by the Canadian Automobile Association (CAA), which is one of the largest consumer-based organizations in Canada. The insurance arm is part of the Canadian Automobile Association South Central Ontario (CAA SCO), the largest CAA club in Canada.

CAA offers a range of services to its more than six million members, including automotive and travel services, emergency roadside assistance, member savings, and, of course, insurance services. CAA can trace its roots back to 1903 when 27 motorists met in Queen’s Park to form the Toronto Automobile Club. The first item on the agenda was showing MPPs that it was safe to increase the speed limit from eight miles per hour to 10 miles per hour.

In 1913, the CAA took on its current name. Several motor clubs in Canada came together to form the non-profit federation, including the Manitoba Motor League, the Saskatchewan Motor Club, and the Ontario Motor League (OML), all of which became part of CAA at various points in their histories.

CAA was at the forefront of major developments on Canada’s roads, such as publishing the first official Road Guide of Canada, urging the federal government to build a Trans-Canada Highway in 1922, and establishing first-aid posts along key highways in Ontario.

Eventually, CAA got into the insurance business. In 1937, OML introduced personal accident insurance as a benefit to its members and, in 1974, the Ontario Motor Insurance Company was established, later becoming the CAA Insurance Company (Ontario) in 1982. The company then introduced property insurance in 1983. In 2012, CAA SCO formed the Orion Travel Insurance Company, in partnership with the Alberta Motor Association.

In 2015, CAA Insurance Company (Ontario) was renamed to CAA Insurance Company, and shortly after introduced its high-net worth insurance, CAA Distinct.

CAA in the news

April 2017: CAA recognized for insurance technology innovations
August 2019: CSIO certifies CAA Insurance for personal lines electronic documentation
April 2020: CAA Insurance offers rate reduction
April 2020: CAA Insurance launches CSIO's digital auto insurance proof solution
May 2020: CAA Insurance auto rate reductions now available in New Brunswick
August 2020: CAA Insurance wins five-star status with successful broker strategy
November 2020: CAA Insurance to offer additional auto insurance rate relief to Ontario drivers
December 2020: CAA on whether COVID-19 auto insurance rebates really paid off
January 2021: CAA brings pay-as-you-go auto insurance to PEI
February 2021: CAA Insurance reports significant take-up in pay-as-you-go auto insurance program
March 2021: CAA Insurance to offer another round of auto insurance premium relief
November 2021: CAA Insurance further expands pay-as-you-go auto insurance program
February 2022: CAA launches three-year annual donation program
October 2022: CAA Insurance, CAA Club Group of Companies launch wellness app for brokers

Key people

Matthew Turack – group president

Turack holds 18 years of experience in the insurance industry, and has successfully led teams of underwriters, actuaries, claims, and sales and service professionals in product design, rate-making, and the development of risk models. He frequently speaks at industry events about CAA Insurance products and services.

Turack completed the business design program at the Rotman School of Business, after getting his Bachelor degree in business management. He is also a Chartered Insurance Operations Professional.

Culture

CAA has a lot of sway with consumers, after being named the most trusted insurance brand in Canada, and the second most trusted brand overall in the annual Gustavson Brand Trust Index in 2019. By delivering innovative products and continuously taking the temperature of its customers on hot topics, such as cannabis and distracted driving, CAA has been able to maintain Canadians’ trust.

“It is one of our mandates that we continue to be involved with government and have great relations with all the different parties in government [as we] advocate for safe roads,” said Turack. “We’re one of the few organizations who can talk about advocating and being on the forefront of seatbelts when seatbelts came into play and the legislation around that, so it has been our mandate that we continue to advocate for consumers and their safety while they’re on the road.”