LONGUEUIL, Quebec, March 23, 2022 – RCCAQ Insurance, a subsidiary of the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ), is proud to announce the recent acquisition of the professional liability insurance portfolio for brokers at Pistagnesi-Doyon, an underwriting agency. This new acquisition will strengthen RCCAQ Insurance’s leadership position while enhancing its legitimacy in the area of professional liability insurance for brokerage firms in Quebec. The transaction will take effect on May 1, 2022.
“This really is excellent news for us. In addition to giving us a major market share, this acquisition positions RCCAQ Insurance as a leader in this segment. In addition, when they sign up with RCCAQ Insurance’s program, Pistagnesi-Doyon’s clients will receive value added. They stand to benefit from two types of expertise, not only in terms of errors and omissions liability insurance, but also in the area of civil liability for directors and officers. We are also able to assist with all ethical and legislative matters,” said Richard Giroux, CIB, Director of RCCAQ Insurance. “In addition, we offer professional legal assistance free of charge to all RCCAQ Insurance policy holders. They will be advised by highly qualified experts whenever they have questions concerning their obligations and rights or the management of their firm,” said Mr. Giroux.
“This is an opportunity to focus on our core business, i.e. P&C insurance and civil liability,” said Johanne Pistagnesi, President of Pistagnesi-Doyon.
Ms. Pistagnesi added: “At the same time, this is an opportunity for my daughter, Catherine Dufresne, to put her management skills to good use and to devote her time to administration and managing our organization’s staff. Since she joined the company, Catherine quickly won the trust of her clients and our employees thanks to her combination of resourcefulness, proactivity and hard work. Rigorous, organized and business savvy, Catherine has been involved in various major projects within our company and will no doubt help to bring them to fruition.”
It should be noted that in 2022, the firms covered under RCCAQ Insurance’s program are expected to report a total of nearly $4.5 billion in written premiums, representing $1.2 billion in liability coverage provided by the insurer Westport. In addition, since RCCAQ Insurance is an RCCAQ subsidiary, all revenues generated by its programs are reinvested in the RCCAQ’s member services, as well as being used to fund initiatives aimed at defending RCCAQ members’ interests in dealings with lawmakers, regulatory organizations and the public.
ABOUT PISTAGNESI-DOYON
With over 30 years of experience in the area of specialized risks, Pistagnesi-Doyon also offers regular risk coverage. All its markets are authorized in Canada and are covered by errors and omissions insurance. Thanks to agreements signed with major insurers, the company offers diversified client service, backed by an integrity-based professional approach and the most up-to-date technology in the insurance sector.
ABOUT THE RCCAQ
The RCCAQ represents 3,000 certified insurance brokers working at over 400 firms and branch offices across Quebec. In 2017, the economic benefits associated with the province’s brokerage industry totalled $630 million, while government revenues generated by related goods and services taxes were estimated at $52 million. Striving to protect consumers, the RCCAQ seeks to promote and defend the socioeconomic interests of brokerage firms and individual brokers by giving them a voice in dealings with lawmakers, regulatory organizations and the public.
CONTACT PERSON
Organization: RCCAQ
Name: Richard Giroux, CIB
Title: Director, RCCAQ Insurance
Telephone: (450) 674-6258, ext. 235
Email: rgiroux@rccaq.com
