Roofing company launches captive insurance company
Penfolds Roofing, Vancouver, launched a standalone captive insurance company, PRI Warranty Corp., Aug. 1. The primary purpose of PRI Warranty Corp. is to provide full and complete support of all warranties issued by Penfolds Roofing to its customers. The insurance coverage is offered at no additional cost to Penfolds Roofing customers.
Penfolds Roofing is the first and only roofing company in Canada to form its own captive insurance company. PRI Warranty Corp. is managed by Aon Insurance Managers, Burlington, Vt., and is regulated by FICOM, the regulatory agency of the provincial Ministry of Finance that is responsible for regulating the pension, financial services and real estate sectors in British Columbia.
PRI Warranty Corp. will cover all the warranties that are issued by Penfolds Roofing Inc. for the entire period of the warranty.
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