BC roofers form own insurance company

The Roofing Contractors Association of B.C. (RCABC) announced Wednesday that it was establishing its own insurance company, The RCA Indemnity Corp.The new insurer will be wholly owned by RCABC members and has received its license by the F.C. Financial Institutions Commission (FICOM). RCA Indemnity has been writing policies since the beginning of December.The new company responds to the lack of available, affordable insurance coverage for roofers in the province. “The RCA Indemnity Corporation was formed to provide cost effective, long-term liability insurance stability for the professional roofing contractors who meet and uphold the stringent requirements of membership in the RCABC,” notes an association release.RCABC says this is the first time a B.C. professional trade association has been able to meet FICOM’s criteria to set up an insurer. “In doing so, RCABC Members have joined the ranks of other forward thinking professional organizations that have created standards, established policies and implemented procedures designed to manage risk within their own unique industries.”