Nicol Insurance

What Nicol Insurance does

Nicol Insurance Inc. is a privately held, family-owned insurance brokerage registered with the Registered Insurance Brokers of Ontario (RIBO), headquartered in Owen Sound, Ontario, and operating seven offices across Southwestern Ontario and the Greater Toronto Area (Owen Sound, Port Elgin, Kincardine, Orangeville, Mississauga, Woodstock, and Windsor/LaSalle). The firm acts as an intermediary between consumers and a broad panel of insurance carriers — including Intact, Aviva, Economical, Wawanesa, Echelon, Ecclesiastical, Commonwell, Edge Mutual, Sovereign General, and others — earning commissions on placed personal, commercial, agricultural, and group benefits coverage. Product lines span twelve personal insurance categories (home, auto, high-value homes, condo, cottage/seasonal, hobby farm, boat/yacht, tenant, personal umbrella, recreational vehicles, motorcycle, antique/classic auto), eleven commercial lines (commercial property, business interruption, CGL, excess/umbrella, cyber, D&O, professional liability/E&O, environmental, bonding/surety, special events, agricultural), and group benefits distributed exclusively through the Chambers Plan (1-50 employee businesses) and Integratis Group ASO (30+ employees) partnerships.

The business is built on a dedicated-broker service model: each client is assigned a team of two brokers with no call-centre routing, supplemented by annual renewal reviews, in-house claims assistance, and a client portal/mobile app (kioskassist.com) for 24/7 policy access. Underlying technology is conventional for the brokerage vertical — Applied Systems rating platform for quoting, third-party portal/app for self-service — with no proprietary technology assets. GTM is hybrid: a sales-led broker model in physical offices and via phone/email, a direct-to-consumer online quote funnel for auto and home, and a community-led referral/word-of-mouth layer reinforced by local sponsorships and testimonials.

Nicol Insurance traces its roots to Carruthers Insurance Brokers, founded in 1953 in Owen Sound by C.H. 'Joe' Carruthers, and to Nicol Insurance, founded independently in 1978 by Robert F. Nicol (Bob Jr.). The two firms merged in 2000 to form Carruthers Nicol Insurance & Investments, and the combined entity was rebranded as Nicol Insurance in 2013 to reflect the current leadership team. Growth since has been driven primarily by tuck-in acquisitions — MacKenzie Nicol (2001), McTavish (2003), Landry Mellow and James Washington (2019), and Grey Bruce Insurance (2021) — which added the Mississauga/GTA office and scaled the Group Benefits practice. The company is led by CEO Tim Nicol (CAIB) and CFO/Principal Broker Adam Barfoot (CPA, CA, CAIB) and remains under family ownership with no external venture capital or private equity investors identified.

Name

Nicol Insurance

Legal name

Nicol Insurance Inc.

Website

https://nicolinsurance.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

11–50 employees

Short description

Nicol Insurance is a privately held, family-owned RIBO-licensed insurance brokerage operating seven offices across Southwestern Ontario and the GTA, Canada. The firm distributes personal, commercial, agricultural, and group benefits insurance as a multi-carrier broker serving individuals, families, farms, and small/mid-market businesses.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industry

Retail (Personal Lines) Insurance Brokerage (FSAEADAA)

Keywords

• Personal insurance brokerage
• Commercial insurance solutions
• Group benefits advisory
• Property casualty insurance
• Insurance risk management

Headquarters

HQ city

Owen Sound

HQ country

Canada

HQ region

North America

Offices7 records

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 a registered licensed insurance broker with RIBO, Nicol Insurance acts as intermediary between consumers (buyers of insurance) and insurers. They earn commissions and/or fees payable by the insurer for providing this service.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Nicol Insurance is a registered licensed insurance broker (RIBO) that intermediates between clients and insurance providers, offering personal insurance, commercial insurance, and group benefits products. The brokerage shops coverage from multiple carrier partners to find the right policy at competitive pricing, and provides a full-service approach including annual renewal reviews and claims assistance. Operations are supported by seven physical offices across Southwestern Ontario plus a client portal and mobile app.

Product overview

Nicol Insurance is a full-service insurance brokerage offering a comprehensive portfolio of personal, commercial, and group benefits insurance products. Personal insurance products include Home, Auto, High Value Homes, Condominiums, Cottage/Seasonal Homes, Hobby Farm, Boat/Yachts, Tenant, Personal Umbrella Liability, Recreational Vehicles, Motorcycle, and Antique/Classic Automobiles coverage. Commercial insurance encompasses Commercial Property, Business Interruption, Commercial General Liability, Excess and Umbrella Liability, Cyber Insurance, Directors and Officers Liability, Professional Liability/E&O, Environmental/Pollution Insurance, Bonding/Surety, Special Events, and Agricultural Insurance. Group Benefits include the Chambers Plan for small businesses (1-50 employees) and Integratis Group benefits for larger organizations (30+ employees). The company also provides digital services through a Client Portal and Mobile App for policy access and claims management.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Insurance Protects homes and contents from unexpected loss or damage, covering furnishings and personal items. Targeted at homeowners in Southwestern Ontario.
• Auto Insurance Vehicle protection coverage tailored to individual needs and budget, finding the right type at the most affordable rate. Available via online quote calculator.
• High Value Homes Insurance Superior coverage for extraordinary homes requiring a higher level of protection than standard policies offer.
• Condominium Insurance Personal property and liability coverage for condominium residents in apartment or townhouse complexes.
• Cottage/Seasonal Homes Insurance Coverage for cottages and seasonal homes addressing risks and perils unique to seasonal properties.
• Hobby Farm Insurance Coverage for small farms including equipment, outbuildings, livestock, and products produced for sale.
• Boat/Yachts Insurance Protection for personal pleasure crafts and executive yachts for water activities.
• Tenant Insurance Coverage for tenant contents and personal liability protection against unforeseen events.
• Personal Umbrella Liability Extra liability coverage over and above home or auto insurance policies for large liability claims or judgments.
• Recreational Vehicles Insurance Coverage for snowmobiles and ATVs for on-road or trail protection.
• Motorcycle Insurance Protection for motorcycles including liability, repair costs and accident benefits.
• Antique/Classic Automobiles Insurance Specialized coverage for classic or antique automobiles as investments requiring special attention.
• Commercial Property Insurance Coverage for commercial buildings, equipment, and stock that allow businesses to continue operating after unexpected events.
• Business Interruption Insurance Coverage replacing lost income when business suffers physical property loss, supporting recovery to pre-loss operations.
• Commercial General Liability Protection for businesses from bodily injury or property damage liability to third parties.
• Commercial Excess and Umbrella Liability Higher limits of liability insurance beyond standard policy limits for higher-risk businesses.
• Cyber Insurance Protection against data breaches, cyber extortion, payment information compromises, and e-crimes.
• Directors and Officers Liability Personal liability protection for directors and officers for decisions made in running the business.
• Professional Liability/Errors and Omissions Coverage for professionals who provide life-altering services to protect against mistakes and negligence claims.
• Environmental (Pollution) Insurance Coverage for pollution losses at both own location and third-party locations resulting from business operations.
• Bonding/Surety Guarantee agreements for contractors ensuring fulfillment of contracts to prevent financial loss to contracting parties.
• Special Events Insurance Short-term event coverage for activities excluded under standard Commercial General Liability policies.
• Agricultural Insurance Tailored insurance for farms covering buildings, machinery, livestock, and products with coverage tailored to agricultural operations.
• Chambers Plan Group Benefits Canada's leading Group Benefits plan for 1-50 employees, offered at rates not normally available to small and medium-sized businesses. Available in Owen Sound, Saugeen Shores, Mount Forest, Meaford, Hanover, and surrounding areas.
• Integratis Group Benefits Administrative Services Only Employee Benefits provided through partnership with Integratis Group for groups of 30 employees or larger.
• Client Portal and Mobile App Online platform and mobile application for clients to access policy information, liability slips, FAQs, documents, broker contact details, submit claims and track claim progress.

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core and minor.

• Aviva InsurancecoreOthersInsurance provider partner; one of the trusted insurance providers Nicol Insurance shops for clients to get best coverage and value
• CAA Insurance CompanycoreOthersInsurance provider partner offering group benefits to CAA members through Nicol Insurance
• The Commonwell Mutual Insurance GroupcoreOthersMutual insurance provider partner serving Ontario communities
• Ecclesiastical InsurancecoreOthersInsurance provider partner specializing in unique coverage solutions
• Echelon InsurancecoreOthersInsurance provider partner offering various commercial and personal insurance products
• Economical InsurancecoreOthersOne of Canada's largest property and casualty insurers; insurance provider partner
• Edge Mutual InsurancecoreOthersMutual insurance provider partner serving Ontario communities
• Intact InsurancecoreOthersCanada's largest property and casualty insurer; insurance provider partner. After hours claims: 1-866-464-2424
• Intact Public EntitiesminorOthersSpecialized insurance provider for public entities and municipalities
• Premier Group of CompaniesminorOthersInsurance provider partner offering specialized coverage options
• Wynward InsuranceminorOthersInsurance provider partner offering specialty insurance products
• Sovereign General InsurancecoreOthersInsurance provider partner offering commercial and personal insurance products
• Tottenham Group InsuranceminorOthersInsurance provider partner offering specialized coverage
• Wawanesa InsurancecoreOthersMutual insurance company partner serving Canadian communities
• Sound Life InsuranceminorOthersLife insurance provider partner offering additional coverage options
• Chambers PlancoreChannel Partner/ Reseller/ DistributorCanada's leading Group Benefits plan for 1-50 employees. Nicol Insurance is the exclusive advisor of the Chambers Plan for clients in Owen Sound, Saugeen Shores, Mount Forest, Meaford, Hanover, and surrounding communities. Non-profit program offering affordable employee benefits.
• Integratis GroupcoreChannel Partner/ Reseller/ DistributorAdministrative Services Only (ASO) employee benefits provider. Nicol Insurance is partnered with Integratis Group to provide ASO benefits to groups of 30 employees or larger

Scale indicators4 records

Recent moves12 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nicolinsurance
• YouTubeyoutube.com/@nicolinsurance
• Facebookfacebook.com/nicolinsurance
• LinkedInlinkedin.com/company/nicolinsurance
• Instagraminstagram.com/nicol_insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 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 Nicol Insurance