SUBMISSION
FAST
A LEADER IN INSURANCE IN QUEBEC
Promutuel is the leader in the property and casualty insurance market in Québec, with sales of $869 million. This insurer is one of the pioneers in the insurance industry with some 170 years of experience and expertise in this sector with insurance brokers.
The brand is established in the various regions of Quebec through a large network of 16 mutual insurance companies that have demonstrated over the years a real know-how in the protection of property and people in addition to their economic dynamism and their social commitment.
Values behind Promutuel brokers
At that time, traditional insurers did not provide enough protection for farmers who were under many threats, which increased the risk involved and made it difficult to cover them. And this is what has pushed several people in the region to come together to protect each other and preserve their heritage, equipment and livestock. They have put in place insurance mechanisms to deal with losses associated with the occurrence of any loss.
The beginnings of Promutuel
Promutuel was born in a very specific context, when farmers and villagers in the Huntingdon region decided in 1852 to create the Beauharnois County Mutual Fire Insurance Company. A mutual association that will be a great success throughout Quebec by meeting the real and specific needs of the agricultural sector.
It was between 1900 and 1956 that mutual insurance companies experienced unprecedented development. In fact, at the beginning they only offered protection against fire and lightning damage, before later presenting protection against wind. What has allowed these mutuals to succeed is the fact that policyholders know and trust each other, and the expenses associated with claims remain affordable. These elements have had a positive impact on fire prevention, with regard to the sense of responsibility towards the common good.
The birth of a federation
Some mutual insurance companies have decided to join forces within the framework of a federation in order to be able to defend their interests before the government and impose their presence more. The federation was founded on April 18, 1956.
In 1975, new legislation was enacted to make significant changes for mutual fire, lightning and wind insurance companies, which expanded their mandate to cover auto, home and commercial insurance. From then on, it becomes possible to take out different insurance and protection for different damages and claims.
Over the past 20 years, Promutuel Insurance has continued to grow by further consolidating its mutualist approach and by providing its insurance expertise and know-how to its clients throughout Québec.
Mutuality, a very lively model
The insured are also members or owners of the mutual insurance company. A legal form that establishes democracy between the insured members. The latter contribute to the decision-making process and have a right to vote that they can exercise at the annual general meeting, regardless of the shares held in the mutual.
A strong sense of community prevails among the mutual societies, not only in terms of the location of the head office, but also in their commitment to the various social aspects. This is reflected in the sponsorship and support operations for the benefit of organizations operating for the economic and social well-being in the different regions where they operate. From an economic point of view, they are a dynamic player in job creation, but also in investment, investments and the development of business partnerships with companies and their suppliers.
What insurance products does the mutual insurance company offer?
Promutuel offers a wide range of coverage, including:
- Car insurance: the mutual insurance company offers its customers high-level car guarantees at very competitive rates. The customer can select the coverage that meets their specific needs. In fact, this is one of the reasons why thousands of Quebecers trust the Promotuel brand through a broker.
- Home insurance: Promutuel helps its clients properly insure their homes, regardless of their status as an owner, co-owner or tenant, because they can access appropriate coverage at advantageous rates. For a homeowner, they can take out insurance with a Promutuel broker to protect their home and have peace of mind in the event of a loss. The co-owner also has the option of insuring his condo and protecting his property from various damages and types of damage that may occur. As for the tenant, he will have the opportunity to protect himself properly and to insure his goods and possessions in an optimal way.
