local farmers in response to a series of barn fires. Today, the firm is one of the largest property and casualty insurers in Canada, with more than 27,000 independent brokers serving consumers across the nation.
Tom Reikman, SVP and chief distribution officer of Economical Insurance, released a statement saying, “Today marks a milestone that reminds us why we’re in business and how customers rely on us, especially when the unexpected happens”.
The SVP discussed the company’s century-old longevity and services. He said, “Our company has withstood world wars, recessions, the Great Depression, and global pandemics, all of which are a testament to the longevity and success of Economical”. He expressed pride over the company’s progress and achievements. He added, “From our humble beginnings in the Kitchener-Waterloo region, to our current reach across the country and on the Internet, we take great pride in the journey and achievements Economical has made to date and look forward to helping our clients for years to come.”
Economical Insurance undertook two projects to mark its 150-year history. The business has invited students and graduates of the University of Waterloo’s faculty of fine arts to submit an original visual art creation commemorating the insurer’s accomplishments. Baz Kanold, a mixed media artist in the final years of his undergraduate degree, was named the winner. Kanold received $7,500 for the artwork, and copies of the art were handed to Economical workers as commemorative pieces.
The other endeavor is more introspective. Economical is collaborating with historian Dr Ulrich Frisse to conduct a historical examination of the firm. Dr Frisse will conduct research into Economical archives and compile his results in a commemorative book that will be released in April 2022. He is an international corporate lawyer and historian in Germany and Canada. He also taught modern history for eight years at Wilfrid Laurier University and the University of Western Ontario.
