Navacord enters specialty insurance market

Navacord has announced that it has partnered with Travel Guardian Insurance, AwayCare, and Colibri Assurance Voyage – the brokerage’s first partnerships for 2023 – marking its entry into the Canadian specialty travel insurance market.

The group of companies that have partnered with Navacord are operated by chairman Tim Beaulieu and president Ryan Beaulieu. With offices in Ontario, Quebec, BC, and Alberta, the companies specialize in travel insurance, as well as home and auto insurance.

“We are proud to be the pathway for Navacord as they expand their presence in the travel insurance sector,” said Beaulieu. “The travel insurance industry requires specialized levels of knowledge, care and effort to operate exceptionally. We are confident we can continue to grow Navacord’s expertise, and our business in this area, with our partnership.”

“This partnership marks a significant step for Navacord, not only because it is our first in 2023, but also because this group allows us to deepen our expertise in travel insurance and create new offerings for our broker partners and clients across Canada,” added Navacord executive chairman T. Marshall Sadd.

“Travel Guardian, AwayCare and Colibri stood out to us because they have demonstrated substantial business growth both organically and through their own partnerships, and understand what it takes to diversify and develop,” said Navacord president and CEO Shawn DeSantis.

Last August, Navacord appointed Greg Irvine to serve as president of its MGA underwriting solutions division. Irvine will drive and facilitate the growth of Navacord’s existing and future MGA broker partners, build underwriting programs and products, access alternative insurance markets, and build out underwriting capacity for the Navacord group.