The managers & partners of LL Renaissance Insurance Brokerage Canada Limited are pleased to announce the establishment of the Automobile Dealers Insurance Exchange otherwise known as ADIX. This newly licensed insurance entity provides a long-term solution for the peril of hail for new automobile dealerships for Alberta.
The LL Renaissance Insurance team in conjunction with the Alberta Superintendent of Insurance, and working with a team of professional advisors created ADIX effective March 18, 2016.
The partners and management of LL Renaissance Insurance Brokerage have been involved in the insurance of automobile dealers in Canada since 1978 including extensive dealings in the province of Alberta. We have had the opportunity of working with private insurers/reinsurers and many clients in designing sophisticated property, casualty and automobile coverages for this industry. Unquestionably, the most challenging coverage to provide on a consistent basis has been for the peril of hail, particularly in provinces such as Alberta where very real exposures exist on an annual basis.
In this regard, LL Renaissance created a task force including LLR partners, legal advisors, financial and actuarial consultants to study this problem for our Alberta clients. This initiative included extensive discussions with the CEOs and CFOs of our clients and an actuarial study of losses over the past several years in Alberta to determine an appropriate course of action.
To obtain more information in regards to ADIX and how you may participate, please contact: