Updated October 2026

Ontario insurance policyholders who previously purchased coverage through Travelers Canada may notice some changes to their insurance documents as their policies come up for renewal.

These changes follow Definity Financial Corporation's acquisition of Travelers Canada's personal insurance business and the majority of its commercial insurance operations.

The acquisition was completed on January 2, 2026.

For existing policyholders, the most important question is not simply who owns the insurance company. It is what happens to their insurance coverage when their policy renews.

Although the acquisition itself did not automatically change existing policy coverage, policies transitioning to Economical or Definity Insurance may have differences in wording, coverage limits, deductibles and endorsements.

At L.D. Dermody Insurance Brokers, we want our clients to understand what this transition means and why reviewing their renewal documents is important.

1. What Happened to Travelers Canada?

On January 2, 2026, Definity Financial Corporation completed its acquisition of Travelers Canada's personal insurance business and most of its commercial insurance business.

The transaction included the acquisition of The Dominion of Canada General Insurance Company and Travelers Insurance Company of Canada.

The businesses acquired by Definity include personal automobile and property insurance, along with a broad range of commercial and specialty insurance products.

However, Travelers Canada did not leave the Canadian insurance market entirely.

Travelers retained its surety and new home warranty businesses, which continue to operate separately.

For most Ontario homeowners, automobile owners and businesses insured through the acquired Travelers operations, Definity is now the parent organization responsible for those insurance businesses.

2. What Is Definity Financial Corporation?

Definity Financial Corporation is a Canadian property and casualty insurance organization.

Its insurance businesses include Economical Insurance and other established Canadian insurance brands.

Economical has a long history in the Canadian insurance market and distributes its broker-based products through licensed insurance brokers.

Definity is also introducing Definity Insurance as its refreshed insurance brand, replacing Economical branding over time.

As a result, policyholders may encounter several familiar names during the transition:

• Travelers Canada.

• The Dominion of Canada General Insurance Company.

• Travelers Insurance Company of Canada.

• Economical Insurance.

• Definity Insurance.

Although this can be confusing, these names reflect the acquisition, existing policy arrangements and ongoing transition of insurance products and systems.

3. Does the Acquisition Automatically Change My Insurance Policy?

No.

Definity has confirmed that the acquisition itself did not automatically change the coverage, premium or deductible on an existing Travelers Canada policy.

The existing policy remains in effect until its scheduled renewal date, subject to its terms and conditions.

Policyholders generally do not need to purchase a replacement policy immediately simply because of the acquisition.

However, the situation is different when the policy comes up for renewal.

At renewal, the policy may transition to an Economical or Definity Insurance product.

This is when reviewing the new policy becomes particularly important.

4. What Happens When My Travelers Policy Renews?

As Travelers Canada policies reach their renewal dates, they may be transitioned to insurance products administered through Economical or Definity Insurance.

The insurer has indicated that the transition is being completed through the renewal process.

For example, a homeowner who previously held a policy issued by The Dominion of Canada General Insurance Company may receive a renewal package showing Economical or Definity Insurance.

The replacement policy may have a different policy number, updated documents and revised coverage wording.

It is important to understand that a policy conversion is not necessarily identical to renewing the same insurance contract with the same wording.

Although the replacement product may provide similar protection, there can be differences.

Policyholders should carefully review the renewal information and contact their insurance broker with any questions.

5. Will My Insurance Coverage Stay the Same?

Not necessarily.

Definity has advised that replacement coverage is intended to be similar in scope, but differences may exist in:

• Policy wording.

• Coverage limits.

• Deductibles.

• Optional endorsements.

• Special limits for certain property.

• Conditions and exclusions.

Some differences may be relatively minor.

Others could be important depending on the insured property, vehicle, business or individual circumstances.

For example, a homeowners policy may contain different wording concerning water damage, replacement cost or additional coverage extensions.

An automobile policy may include different optional endorsements or insurer-specific features.

Commercial insurance policies can have more extensive differences because coverage is often tailored to the nature of the business.

Do not assume that every coverage provided by the previous Travelers policy is automatically included on identical terms under the replacement policy.

Your renewal documents should identify important changes, and your broker can help explain them.

6. Will My Insurance Premium Increase Because of the Acquisition?

Definity has indicated that premiums are not being increased simply because the acquisition occurred.

However, this does not mean that every policyholder's renewal premium will remain unchanged.

Insurance premiums can change for many reasons, including:

• Changes in repair and rebuilding costs.

• Claims experience.

• Inflation.

• Changes in the insured risk.

• Updated insurer rating factors.

• Changes to coverage or deductibles.

• General market conditions.

A replacement policy may also be rated under a different insurance product or rating structure.

The important distinction is that a change in premium at renewal should not automatically be attributed to the acquisition itself.

If your renewal premium increases, ask your broker to review the available information and explain the factors affecting the cost.

Depending on the circumstances, it may also be appropriate to consider alternative coverage options.

7. Will My Policy Number Change?

It may.

As policies transition to new systems and insurance products, policy numbers may change at renewal.

The new number should appear on the renewal documents.

Policyholders should update their records and use the correct policy number when making inquiries or payments.

If you have an automobile policy, check that the insurance documents kept in your vehicle reflect the current policy.

Businesses should also review any insurance certificates or documents that refer to an old policy number.

8. Will My Payment Arrangements Change?

Possibly.

Definity has indicated that payment options and arrangements may change during the transition.

Policyholders who previously paid Travelers Canada directly may receive updated payment instructions with their renewal.

Depending on the policy, changes could involve:

• The name of the company receiving payment.

• Available payment methods.

• Payment schedules.

• Monthly payment arrangements.

• Billing documents.

It is important to review these details carefully.

Do not assume that a payment arrangement established under your old policy will continue unchanged without checking your renewal documents.

If you receive unfamiliar payment instructions, contact your insurance broker through a known telephone number or email address before making changes.

This is particularly important because criminals sometimes use company transitions and payment changes as opportunities for fraudulent communications.

9. What Happens if I Have an Outstanding Claim?

An insurance claim is generally handled according to the policy in effect when the loss occurred.

For example, if a homeowner experienced a covered loss while insured under a Travelers Canada policy, the claim would continue to be assessed according to the applicable policy terms.

The fact that the insurance company was subsequently acquired does not automatically replace the wording that applied on the date of the loss.

Definity has indicated that existing claims will continue to be handled during the transition.

However, policyholders may notice changes to the name of the company or department communicating with them.

If you have an outstanding claim, continue to work with the assigned claims representative and keep your insurance broker informed of any concerns.

10. What if I Have an Accident or Property Claim After My Policy Converts?

If a loss occurs after your policy has renewed onto an Economical or Definity Insurance product, the claim will generally be handled under the policy in effect on the date of that loss.

This is another reason to understand the replacement policy's coverage.

For example, the deductible or endorsement wording that applies to a new loss may differ from what appeared on the previous Travelers policy.

Follow the claims reporting instructions included with your current insurance documents.

If you are unsure where to report a claim, contact your broker.

11. Will My Claims History Transfer to the New Insurer?

Yes.

The acquisition and policy conversion do not erase a policyholder's previous insurance history.

Definity has confirmed that claims and loss history remain relevant during the transition.

For automobile insurance, previous accidents and convictions may continue to affect premiums and eligibility according to the applicable rules.

For property and commercial insurance, prior claims may also be considered when the insurer assesses the risk.

The precise effect depends on the nature of the claim, when it occurred and the insurer's rating and underwriting requirements.

A change in insurance company branding does not provide a new claims-free history.

12. Will My Insurance Broker Change?

No, not simply because of the acquisition.

Definity has confirmed that existing broker relationships continue.

If your insurance was arranged through L.D. Dermody Insurance Brokers, our office remains your point of contact for questions about your coverage and renewal.

We can help you understand the documents received from the insurer and discuss any changes that may affect your insurance needs.

This is one of the advantages of dealing with an independent insurance broker.

Your broker can assist you through changes involving insurance companies, products and underwriting requirements.

13. What Should Homeowners Look for When Their Policy Converts?

Home insurance policies can contain important differences even when the overall coverage appears similar.

When reviewing a replacement policy, homeowners should pay attention to:

Dwelling Coverage

Confirm the amount of insurance provided for rebuilding the home and whether the policy includes any guaranteed replacement cost or other enhanced rebuilding provisions.

Water Damage Coverage

Review overland water, sewer backup and other water-related endorsements.

These coverages may have different definitions, limits or deductibles.

Deductibles

Check whether the standard deductible or any special deductible has changed.

Personal Property

Review coverage limits and any special restrictions applying to jewellery, collectibles, bicycles or other valuable belongings.

Additional Living Expenses

Confirm the coverage available if an insured loss makes the home unfit for occupancy.

Optional Endorsements

Review any additional coverages purchased under the previous policy and determine whether comparable protection is included under the replacement policy.

A homeowners policy should be reviewed based on its actual protection, not simply its premium.

14. What Should Automobile Insurance Policyholders Review?

Ontario automobile insurance includes mandatory coverages, but drivers can also purchase optional protection.

When a policy transitions, review:

• Third-party liability limits.

• Collision coverage.

• Comprehensive coverage.

• Deductibles.

• Loss of Use coverage.

• Rental vehicle damage coverage.

• Accident forgiveness or driving record protection.

• Other optional endorsements.

• Listed drivers and vehicle information.

Some optional features are insurer-specific.

For example, accident forgiveness programs may have different eligibility requirements and conditions.

Do not assume that an optional benefit provided under a previous Travelers policy operates in exactly the same way under a replacement Definity product.

Ask your broker to explain any differences that are important to you.

15. What Should Commercial Insurance Policyholders Review?

Commercial insurance can be particularly complex because coverage varies widely between businesses.

A business owner should review the replacement policy to confirm that it continues to reflect the company's operations and exposures.

Important considerations may include:

• Commercial general liability limits.

• Property insurance limits.

• Business interruption coverage.

• Equipment and tools coverage.

• Professional liability.

• Cyber liability.

• Commercial automobile coverage.

• Additional insured requirements.

• Contractual insurance obligations.

• Special exclusions and endorsements.

Business owners should also advise their broker of any changes in operations, revenue, payroll, employees or services.

A policy conversion is a useful opportunity to confirm that the insurance remains appropriate for the business as it operates today.

16. What if I Have a Travelers Canada Surety Bond or New Home Warranty Policy?

Travelers Canada's surety and new home warranty businesses were not included in the Definity acquisition.

These businesses remain with Travelers Canada.

Customers with these products should continue to work with Travelers and their insurance broker or other authorized representative.

This distinction is important because the acquisition did not involve every part of Travelers Canada's operations.

17. Why Am I Receiving Documents Showing Different Insurance Company Names?

During a corporate acquisition and insurance system transition, policyholders may receive documents referring to more than one company.

For example, correspondence may refer to Travelers, The Dominion, Economical or Definity.

This does not necessarily mean that the policyholder has multiple overlapping insurance policies.

The names may reflect the original issuing company, the acquired business or the new insurer administering the replacement product.

Nevertheless, policyholders should review their documents to confirm:

• The named insurance company.

• The policy number.

• The insured property or vehicle.

• The policy effective and expiry dates.

• The premium and payment instructions.

• The coverage and deductibles.

If anything appears inconsistent, contact your broker before making assumptions.

18. Should I Shop Around Because My Insurance Company Has Changed?

Not necessarily.

A change in insurance company ownership does not automatically mean you should move your coverage elsewhere.

However, every renewal provides an opportunity to review your insurance needs.

If the replacement policy includes significant changes or the premium is no longer competitive, your broker can help determine whether alternative insurance options should be considered.

The best policy is not always the one with the lowest premium.

Coverage differences, deductibles, underwriting requirements and the insurer's suitability for your particular circumstances should all be considered.

19. What Should You Do When You Receive Your Renewal?

If you are an existing Travelers Canada policyholder whose coverage is transitioning to Economical or Definity Insurance, we recommend the following:

1. Read the renewal documents. Do not assume the replacement policy is identical to the previous one.

2. Check the insurance company and policy number. Update your records where necessary.

3. Review the premium and payment arrangements. Confirm when and how payment is required.

4. Compare coverage limits and deductibles. Pay particular attention to important optional coverages.

5. Review endorsements and exclusions. Some wording may differ from the previous policy.

6. Confirm the information about your property, vehicles or business. Advise your broker of any changes.

7. Ask questions before renewal. Contact your broker if anything is unclear.

Taking time to review the renewal can help prevent misunderstandings if a claim occurs later.

20. What Does This Mean for L.D. Dermody Insurance Brokers Clients?

For clients insured through Travelers Canada or The Dominion of Canada General Insurance Company, the transition is an important change in the insurance company providing coverage.

However, L.D. Dermody Insurance Brokers remains your insurance broker.

Our role is to help you understand your insurance, review your renewal and address questions about the coverage available.

As policies transition, we encourage clients to read their renewal documents carefully and contact us if they have questions about changes to coverage, deductibles, payment arrangements or other policy details.

We also encourage clients to advise us whenever their insurance needs change.

This includes renovations, vehicle changes, changes in household drivers, business activities and other circumstances that may affect coverage.

Looking Ahead

Definity's acquisition of Travelers Canada's personal and most commercial insurance businesses represents a significant change in the Canadian insurance industry.

For policyholders, the transition will generally become most noticeable when their policies renew.

Although the acquisition itself did not automatically change existing policies, replacement insurance products may contain differences that deserve careful attention.

The most important step is to understand the coverage being offered at renewal.

At L.D. Dermody Insurance Brokers, we are committed to helping our clients navigate insurance company changes and make informed decisions about their coverage.

If you have received a Travelers, Dominion, Economical or Definity Insurance renewal and have questions about the transition, please contact L.D. Dermody Insurance Brokers.

We would be pleased to review your insurance arrangements and explain any important changes affecting your policy.

This article provides general information as of October 2026. The timing and details of policy conversions may vary by product and policyholder. Insurance coverage, premiums, deductibles, endorsements and renewal terms are governed by the applicable policy documents and insurer requirements. Always review your individual renewal documents.