Brief History

A Wealth of Experience in Insurance

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    With roots that go deep into Canada's past and a vision of the future, HSB Canada has been a leader in providing specialized insurance products since 1875.

    As The Canadian Steam Users Insurance Association we were incorporated on April 8, 1875. The organization was founded by a group of individuals with interests in law, politics and business in order to provide insurance on Steam Boilers. Although the inaugural records of the company make no reference to accident prevention by means of Inspection, this critical aspect of the business soon became a cornerstone of our success. The name was changed to The Boiler Inspection and Insurance Company of Canada on May 17, 1882 to "more closely reflect the actual purpose and operations of the Company and in 1893 the Company obtained a license to write Machinery Insurance".

    As the years passed and our reputation grew, the company gradually expanded its services to businesses and institutions both large and small from coast to coast across Canada. The reputation we earned is one of engineering knowledge and specialized underwriting expertise.

    Now, alongside our colleagues in the US and UK, we’re going to market as a new, unified global brand: HSB, a Munich Re company.

    Today,  we have the advantage of being able to offer services on a worldwide basis. Our mission is a commitment "to be Canada's leading provider of engineering-based insurance products and related technical services."

    Driven by technology and fueled by innovation, we’re accelerating, changing the future of specialty insurance and risk solutions to unlock new opportunities for our clients and partners, as we build on our strong heritage of engineering expertise and insurance leadership.

    For years, we have been undergoing a strategic evolution that’s helping clients stay ahead of risks in a changing world.

    Today we’re investing in technologies such as IoT, machine learning, artificial intelligence, proprietary algorithms and data science.

    This aligns with our forward-thinking technology strategy in Canada to establish us as a client-centric digital leader.

    Increased investments in digital processes and enabling technologies are driving innovation and greater value for our stakeholders.