Miller has formed a partnership with Specialty Program Group Canada (SPG Canada) and NormanMax Syndicate 3939 to launch a new binder agreement.
The arrangement grants SPG Canada full underwriting authority for a parametric earthquake insurance product targeting commercial property owners in British Columbia.
The agreement enables SPG Canada to underwrite coverage directly, offering an alternative to traditional earthquake insurance policies, which have seen rising deductibles and more complex claims processes in the region.
Miller says that the product is designed to provide a faster and more transparent claims experience by delivering agreed payouts when a specified shaking intensity is recorded, based on data from independent third-party sources.
Under the terms of the coverage, once the trigger threshold for seismic activity is met, payment is made promptly after simple proof of loss. This approach eliminates the need for traditional loss adjustment or extended negotiations, providing clients with near immediate liquidity to help offset their earthquake deductible.
Alice Glenister (pictured above), head of parametric solutions at Miller, said the company is focused on providing solutions for markets where earthquake insurance is becoming less accessible.
“With this innovative product, we are helping customers take control, giving them a fast, fair way to receive essential insurance coverage for an event without waiting months for traditional claims to be settled,” Glenister said.
Miller has also made moves to strengthen its leadership and international presence. In May, the broker appointed Paul Cumberland as its first chief broking officer, a newly created role aimed at enhancing Miller’s global broking capabilities and supporting continued growth in specialty and parametric solutions.
Earlier this year, Miller also completed the full integration of its Spanish operations, retiring the Bruzon Miller brand. This step is part of Miller’s broader strategy to streamline its European presence and deliver a unified service offering to clients across the region.
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