Park Insurance

What Park Insurance does

Park Insurance Agency Ltd. is a second-generation, family-owned independent insurance broker founded in 1950 and headquartered in Burnaby, British Columbia. The company does not underwrite insurance itself; rather, it operates as an intermediary connecting customers with national and international insurance carriers, earning commissions on placed policies. Its product portfolio spans five pillars: Home Insurance (homeowners, condo, tenant, mobile home, cottage, contents, personal cyber, high net worth), Auto Insurance (ICBC Autoplan, private auto, motorcycle), Business Insurance (small business, commercial property, CGL, equipment breakdown, business interruption, cargo, E&O, builders risk, D&O, cyber, crime, plus 30+ industry-specific programs), Life Insurance (term, permanent, critical illness, disability, mortgage, group health benefits), and Miscellaneous Insurance (travel medical, boat/marine, RV, off-road, sports equipment, pet, identity theft, special events, hole-in-one, associations). Distribution is sales-led through licensed brokers reachable via phone, online quote forms, and in-person office visits.

The company's core technology is a brokerage platform connecting customers with multiple carrier partners; there is no proprietary AI, no public API, and no mobile app. Revenue mechanics are commission-based on a recurring (policy-renewal) basis, with pricing varying by product type, coverage level, and customer profile. The firm operates two exclusive group insurance programs that function as captive distribution channels: the Engineers and Geoscientists BC (EGBC) Insurance Program since 1989, underwritten by Northbridge Insurance, and the Real Estate Investment Network (REIN) Ultimate Insurance Program covering BC, Alberta, Saskatchewan, Manitoba, and Ontario. Additional carrier partnerships include ICBC (mandatory auto), Hagerty (classic cars), Tugo (travel medical), Pets Plus Us (pet), and Boxx Insurance (personal cyber via Cyberboxx).

The company serves individuals, families, and SMBs primarily across British Columbia, with mid-market reach into four additional provinces via the REIN channel. Its operating geographies are domestic Canada only, with no claims of international footprint beyond carrier relationships. Ownership has remained within the founding family across two generations, with no external private equity or venture capital involvement. Leadership includes President Bryan Fitzpatrick, VP of Commercial Lines Chris Westrop, and AVP of Commercial Lines Cathy Su. Park Insurance has received regional recognition as "Business of the Year" and markets itself as "Burnaby's Top Insurance Broker Since 1950."

Name

Park Insurance

Legal name

Park Insurance Agency Ltd.

Website

https://park.ca

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

Park Insurance is a second-generation, family-owned independent insurance broker based in Burnaby, BC, operating since 1950. It connects individuals, families, and SMBs across Canada with national and international carriers across home, auto, business, and life insurance lines.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Umbrella Insurance (FSAJAMAK)

akta.pro secondary industries

Personal Umbrella Insurance (FSAJANAA), General Liability Insurance (FSAJAKAD)

Keywords

• Independent insurance brokerage
• Home and auto insurance
• Commercial business insurance
• Group insurance programs
• ICBC Autoplan broker

Headquarters

HQ city

Burnaby

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: As an independent insurance broker, Park Insurance earns commissions from insurance companies for placing customer policies. The company assesses multiple national and international insurance providers to find the best coverage and premium for customers.
2. REIN Group Insurance Programs: Administering exclusive group insurance programs for Real Estate Investment Network members, including Investor Guard and Strata Guard products for investment properties.
3. EGBC Group Insurance Programs: Administering specialized insurance programs for Engineers and Geoscientists BC members including HomePlan, AutoPlus, HomeWork, and Umbrella Liability products.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Park Insurance is an independent insurance brokerage that connects individuals and businesses with multiple national and international insurance carriers to source personalized coverage across home, auto, commercial, life, and specialty insurance lines. The firm also administers exclusive group insurance programs for Engineers and Geoscientists BC (EGBC) members and Real Estate Investment Network (REIN) members, distributing products through licensed brokers via phone, online, and in-person channels.

Product overview

Park Insurance is a second-generation family-owned independent insurance broker based in Burnaby, BC, operating since 1950. The company does not underwrite insurance itself; rather, it acts as an intermediary connecting customers with national and international insurance carriers. Its product portfolio is organized across five main pillars: (1) Home Insurance (home, condo, tenant, mobile home, cottage/seasonal, contents/storage, personal cyber, and high net worth), (2) Auto Insurance (ICBC Autoplan mandatory basic coverage, private optional auto, and motorcycle), (3) Business Insurance (small business, home business, commercial property, CGL liability, equipment breakdown, business interruption, cargo, E&O/professional liability, builders risk, D&O, cyber, commercial crime, glass breakage, contractors, and 30+ industry-specific programs), (4) Life Insurance (term, permanent, and combination life, critical illness, disability, mortgage, financial planning, and group health benefits), and (5) Miscellaneous/Other Insurance (travel medical via Tugo, boat/marine, RV/motorhome, off-road vehicles, sports equipment, pet via Pets Plus Us, identity theft, special events, hole in one, and group associations). The company also administers two exclusive group programs: the Engineers and Geoscientists BC (EGBC) Insurance Program (HomePlan, AutoPlus, HomeWork, Umbrella Liability — underwritten by Northbridge Insurance) and the Real Estate Investment Network (REIN) Ultimate Insurance Program (Investor Guard for rental properties and Strata Guard for condo units). All products are distributed through licensed insurance brokers with both online and in-person service options.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance Comprehensive homeowner's insurance for detached homes, townhouses, and condos covering property damage, liability, personal property, additional living expenses, and other structures.
• Condo Insurance Condominium unit insurance covering personal contents, unit improvements, personal liability, loss assessment, and deductible assessment for condo or apartment owners and townhome residents.
• Tenant Insurance Renter's insurance protecting personal property from fire, theft, and named perils, with liability coverage for accidents in the rental residence. Many renters obtain adequate coverage for less than $1 a day.
• Mobile Home Insurance Insurance coverage tailored for manufactured and mobile homes, addressing unique risks such as wind damage, fire exposure, and transit-related considerations.
• Cottage / Seasonal Property Insurance Insurance for vacation cottages, cabins, and seasonal residences, with coverage terms and exclusions that differ from standard homeowners policies.
• High Net Worth Insurance Bespoke insurance solutions for high-value homes, estates, collector cars, fine jewelry, and excess liability, with concierge-level service and personalized coverage.
• ICBC Autoplan Insurance Mandatory basic auto insurance in British Columbia through ICBC, covering third-party legal liability, accident benefits, underinsured motorist protection, and hit-and-run coverage. Park Insurance is a licensed ICBC Autoplan broker offering multiple transaction channels.
• Private Auto Insurance Optional auto insurance beyond mandatory ICBC Autoplan, covering collision, comprehensive, specified perils, replacement cost, collector vehicles, and extended third-party liability.
• Motorcycle Insurance ICBC Autoplan and private insurance coverage for motorcycles, including off-season storage, agreed-value policies, trailer and riding gear coverage, and classic bike options.
• Small Business Insurance Flexible insurance package for small businesses covering property, liability, equipment breakdown, business interruption, cargo, E&O, cyber, and commercial crime.
• Home Business Insurance Insurance for home-based businesses, providing business equipment and inventory coverage along with liability protection for clients and employees visiting the residence.
• Commercial Property Insurance Insurance for business physical assets against loss or damage from fire, theft, smoke, water, and vandalism, available as named-perils or all-risks policies.
• Commercial General Liability (CGL) Insurance Business liability coverage protecting against financial loss from lawsuits for property damage, bodily injury, personal injury, advertising injury, medical payments, and tenant legal liability.
• Equipment Breakdown Insurance Coverage for accidental breakdown of equipment from internal causes such as mechanical failure, electrical short circuits, motor burnout, and boiler overheating.
• Business Interruption Insurance Coverage protecting earning power when business operations are halted, reimbursing salaries, rent, taxes, projected profits, and temporary premises costs.
• Cargo & Freight Insurance Insurance covering damage to goods, products, and equipment in transit by air, land, or sea, and liability exposure for property under the insured's care, custody, or control.
• Errors & Omissions (E&O) / Professional Liability Insurance Professional liability coverage protecting engineers, architects, lawyers, consultants, accountants, and other professionals from claims of negligence, flawed performance, or omissions.
• Builders Risk Insurance Course of construction insurance covering buildings during construction, protecting materials, fixtures, and appliances from fire, lightning, wind, and vandalism.
• Directors & Officers (D&O) Liability Insurance Coverage protecting directors and officers from personal liability for alleged wrongful acts in their governance capacity, including defense costs and damages.
• Commercial Cyber Insurance Insurance coverage for businesses facing cyber attacks, data breaches, network security incidents, privacy law violations, intellectual property infringement, and social media risks.
• Commercial Crime Insurance Insurance covering losses from employee dishonesty, money and securities disappearance, check forgery, counterfeit currency, credit card forgery, and computer fraud.
• Glass Breakage Insurance Coverage for breakage of exterior glass, falling glass, and illuminated signage on commercial properties due to theft, vandalism, or other covered perils.
• Contractors Insurance Coverage providing general liability for contractors including electricians, plumbers, drywall installers, janitorial services, and other trades.
• Industry-Specific Business Insurance Tailored insurance programs for more than 30 specific industries including accountants, bakeries, cannabis businesses, caterers, e-commerce, financial planners, fitness stores, furniture makers, general contractors, grocers, interior designers, landscapers, law firms, metalworkers, plumbers, property managers, real estate agents, retailers, restaurants, tech companies, dentists, optometrists, tour guides, pharmacists, wineries, breweries, electricians, HVAC contractors, pet stores, textile manufacturers, software developers, marketing agencies, and video production companies.
• Life Insurance Life insurance products including term, permanent, and combination policies to provide financial security and death benefits for dependents.
• Critical Illness & Disability Insurance Income protection insurance covering long-term disability and critical illness diagnoses (cancer, stroke, heart attack), providing monthly income or lump-sum payouts.
• Mortgage Insurance Mortgage protection insurance that pays off the outstanding mortgage balance upon the policyholder's death or illness, positioned as a superior alternative to bank- or lender-offered mortgage life insurance.
• Group Health Benefits Group medical, dental, and health benefit plans for employers to attract and retain talent, with tax advantages and preventive healthcare components.
• Travel Medical Insurance Travel health insurance for Canadians traveling abroad, visitors to Canada, international students, and expatriates offered through partner Tugo at rates starting as low as $1.15 per day, with optional coverage for baggage, accidental death, trip interruption, and rental car collision.
• Boat & Marine Insurance Insurance for pleasure boats and watercraft covering replacement/repair, personal belongings, marine perils, towing, and liability, available as a rider on home insurance.
• RV & Motorhome Insurance Comprehensive coverage for motorhomes, travel trailers, fifth wheels, and tent trailers, including standard equipment, contents, comprehensive, emergency expenses, and campsite liability.
• Off-Road Vehicle Insurance Insurance coverage for ATVs, dirt bikes, snowmobiles, and other off-road vehicles.
• Sports Equipment Insurance Coverage for bicycles, kayaks, paddleboards, skis, snowboards, surfboards, golf clubs, and other sports gear, supplementing home insurance policy limits.
• Pet Insurance Pet insurance covering accidents, illness, and wellness care for dogs and cats, offered through partner Pets Plus Us with accident plans under $20/month and accident & illness plans starting from $28/month.
• Identity Theft Insurance Identity theft protection covering credit card forgery, fraudulent fund transfers, telephone expenses, legal costs, lost wages, and credit restoration following identity theft, providing $15,000 of coverage for less than 10 cents a day.
• Cyberboxx Personal Cyber Insurance Personal cyber insurance protecting individuals from cyber attacks on personal devices, identity theft, and digital threats, offered through partner Cyberboxx/Boxx Insurance starting at $9 per month.
• Contents & Storage Insurance Coverage for personal property stored at professional storage facilities, available for short-term or long-term storage needs.
• Special Events / Event Liability Insurance Liability coverage for social events, business events, entertainment, and sporting events including weddings, tournaments, and conferences.
• Hole in One Insurance Specialized insurance for golf tournament hole-in-one prizes, enabling organizations to offer exciting prizes with insured coverage.
• Associations & Groups Insurance Group insurance programs for professional associations, businesses, non-profits, universities, and employee groups providing customized coverage through collective purchasing power.
• Engineers and Geoscientists BC (EGBC) Insurance Program Exclusive group insurance program for members of Engineers and Geoscientists BC offering HomePlan, AutoPlus, HomeWork, and Umbrella Liability products underwritten by Northbridge Insurance.
• REIN Ultimate Insurance Program Exclusive insurance program for Real Estate Investment Network members providing REIN Investor Guard (rental properties up to 6 units) and REIN Strata Guard (condo/townhouse units) with enhanced replacement cost coverage and broad all-risks policies, available in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario.

Named customers7 records

Segments7 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Engineers and Geoscientists BCcoreStrategic or Co-development PartnerExclusive group insurance program for members of BC Society of Engineering & Geoscience and Engineers and Geoscientists BC registrants. Park Insurance has provided services since 1950 and developed the program to meet unique needs of engineers and geoscientists. The program offers excellent coverage at competitive rates with buying power benefits. Underwritten by Northbridge Insurance.
• Real Estate Investment Network (REIN)coreStrategic or Co-development PartnerExclusive REIN Ultimate Insurance Program for Real Estate Investment Network members providing specialized insurance coverage for investment (rental) properties. Includes Investor Guard for residential dwellings up to six units and Strata Guard for condo/townhouse units. Available in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario.
• Northbridge InsurancecoreTechnology or IntegrationPrimary insurance underwriter for the Engineers and Geoscientists BC Insurance Program. Northbridge Insurance is described as one of the country's largest insurance companies with a history of innovative insurance solutions.
• Hagerty Classic Car InsuranceminorChannel Partner/ Reseller/ DistributorPark Insurance is a proud broker for Hagerty Classic Car Insurance, the global leader in classic/vintage car insurance. Provides access to specialty coverage for collector and vintage vehicles.
• TugominorChannel Partner/ Reseller/ DistributorOnline travel medical insurance provider partner. Tugo insures over 1 million trips per year and is #1 insurance provider for adventure travellers and visitors to Canada. Park Insurance offers Tugo products through their travel insurance section.
• Pets Plus UsminorChannel Partner/ Reseller/ DistributorPet insurance partner offering comprehensive pet coverage through Pets Plus Us. Park Insurance offers 5% preferred rate for customers using offer code PARKINS.
• ICBC (Insurance Corporation of British Columbia)coreChannel Partner/ Reseller/ DistributorLicensed Autoplan broker for ICBC, the mandatory auto insurance provider in British Columbia. Park Insurance processes ICBC Autoplan renewals and changes, offering multiple convenient options for customers to manage their mandatory vehicle insurance.
• Boxx Insurance (Cyberboxx)minorChannel Partner/ Reseller/ DistributorPersonal cyber insurance provider. Park Insurance offers Cyberboxx personal cyber insurance starting at $9 per month to protect individuals from cyber attacks and identity theft.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Westland Insurance Group: One of the largest independent insurance brokers in Western Canada, headquartered in BC. Closely comparable to Park Insurance in independent broker model, multi-line P&C focus, and BC/Western Canada geographic concentration, but at materially greater scale.
• BrokerLink: Canadian independent insurance broker operating across personal and commercial lines with multi-channel distribution. Directly comparable in broker-led model, multi-carrier access, and Canadian geographic footprint.
• Western Financial Group: Western Canadian insurance and financial services network with personal and commercial lines. Comparable regional broker serving similar small-business and consumer segments across the same provinces as Park Insurance's REIN program.
• Acera Insurance: Western Canada-focused independent insurance brokerage offering personal, commercial, and specialty lines. Comparable independent broker model with regional Canadian concentration and multi-carrier placement.

Emerging players

• Mitchell & Abbott Insurance Brokers: Smaller BC-based independent insurance broker. Directly comparable independent broker model and BC concentration, but smaller scale and narrower product portfolio than Park Insurance.

Broad incumbents

• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with Canadian operations. Comparable as a multi-line insurance intermediary but operates at vastly larger scale with institutional client focus.
• Intact Financial Corporation: Canada's largest P&C insurer, which also owns broker distribution (including broker acquisitions). Represents both a key carrier partner for Park Insurance and a competitive threat via direct-to-consumer channels and owned brokerage.
• Hub International: Large global insurance brokerage with significant Canadian operations including commercial lines, personal P&C, and benefits. Overlaps Park Insurance on commercial and personal lines but serves enterprise/mid-market with much broader portfolio.
• Cooperators Group: Canadian-owned multi-line insurer and distributor with group benefits and P&C. Comparable multi-line product breadth across home, auto, commercial, and life, with national distribution that overlaps Park Insurance's Western Canada footprint.

Others

• Insurance Brokers Association of British Columbia (IBABC) member firms: Industry association representing BC independent insurance brokers. Park Insurance operates as a member firm of this association ecosystem; comparable through shared regulatory and carrier-relationship infrastructure but not a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ParkInsurance1
• Facebookfacebook.com/ParkInsurance
• LinkedInlinkedin.com/company/park-insurance-agency

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Park Insurance