CHES Special Risk

What CHES Special Risk does

CHES Special Risks Inc. (operating as CHES Special Risk and, in French markets, CHES Solutions Spécialisées) is a privately held Canadian insurance intermediary founded in 2004 and headquartered at 130 King Street West, Toronto, Ontario. It operates as a Managing General Agent (MGA) and distributes exclusively through licensed insurance brokers rather than selling to end customers directly. The company underwrites and places specialized, non-standard commercial lines including Property, Liability, Errors & Omissions (E&O), Construction, Jeweler's Block, and Auto Physical Damage insurance, positioning itself against hard-to-place and complex risks that standard carriers may decline. It maintains a national footprint through regional offices in Toronto, Ottawa, Vancouver, the Montreal area (Saint-Hubert), Quebec City, and Edmonton, with a headcount of 11–50 employees.

The business model rests on intermediary economics rather than product technology. Revenue derives from three streams: commission income embedded in insurance premiums and paid by the carrier (governed by separate commission agreements per insurer that vary by line of business), contingent profit commissions tied to growth, loss ratios, volume, retention, and services provided, and negotiated client-paid placement fees for complex commercial programs disclosed upfront before binding. Pricing is quote-based and individualized to each risk; no standard pricing tiers are publicly disclosed. The go-to-market motion is broker-centric, with regional email and phone contacts supporting broker submissions and quote requests.

CHES is a member of Totalis Program Underwriters and is affiliated with NFP Insurance Services Corp., which together provide program underwriting capabilities and strategic support for its Canadian operations. The company positions itself as independent, stating it has no exclusive arrangements requiring placement with a single insurer. It has been recognized as a Great Place to Work and among Canada's Top Small & Medium Employers for 2026, marking its sixth consecutive year of these distinctions, and has announced an in-progress rebranding.

Name

CHES Special Risk

Legal name

CHES Special Risks Inc.

Website

https://chesspecialrisk.ca

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

CHES Special Risk is a Canadian Managing General Agent (MGA) that distributes specialized commercial insurance—property, liability, E&O, construction, jeweler's block, and auto physical damage—exclusively through licensed insurance brokers, operating via six regional offices nationwide.

Ownership category

akta.pro rank

Product category

Specialty Commercial Insurance Brokerage (MGA)

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty & Excess/Surplus Lines (E&S) (FSAJAMAH)

akta.pro secondary industries

General Liability Insurance (FSAJAMAE), Commercial General Liability (CGL) (FSAJADAA), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA)

Keywords

• Managing general agent services
• Commercial property insurance
• Liability insurance coverage
• Jeweler block insurance
• Construction insurance coverage

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commission Income: Compensation from commission is part of insurance premiums and is paid to the brokerage by the insurance company. CHES has separate commission agreements with each insurance company represented, with amounts varying by business line.
2. Contingency Income: Contingent Profit Commission contracts with insurance companies where payment depends on growth, profitability (loss ratio), volume, retention, and increased services provided. Called 'contingent commission' because it is not guaranteed income.
3. Client-Paid Fees: For complex business insurance programs, negotiated fees may be charged for placement of coverage and additional services. These fees are presented upfront in proposals and approved before binding coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

CHES Special Risk is a Managing General Agent (MGA) and specialty insurance brokerage operating in Canada, providing six core commercial insurance products — Property, Liability, Errors & Omissions, Construction, Jeweler's Block, and Auto Physical Damage Insurance — exclusively through licensed insurance brokers. The firm focuses on bespoke coverage for non-standard and complex risks that mainstream carriers may decline, with multi-carrier access and regional underwriting support across six Canadian offices.

Product overview

CHES Special Risk is a Managing General Agent (MGA) in Canada providing specialized insurance products for brokers and their clients. The company offers a comprehensive suite of six distinct insurance products: Property Insurance, Liability Insurance, Errors & Omissions (E&O) Insurance, Construction Insurance, Jeweler's Block Insurance, and Auto Physical Damage Insurance. These products are tailored for brokers to deliver bespoke insurance solutions covering property, liability, and professional lines, targeting today's challenging risks across Canada.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Insurance Protects brokers' clients' valuable assets from risks such as fire, theft, and natural disasters, covering commercial properties, multi-occupancy buildings, hospitality-sector assets, vacant properties, and high-value residences. Distributed exclusively through licensed insurance brokers.
• Liability Insurance Safeguards businesses from potential legal claims and financial losses due to accidents, injuries, or negligence. Includes third-party liability, completed operations liability, and tenant liability for small businesses, contractors, manufacturers, and service companies. Distributed through licensed insurance brokers.
• Errors & Omissions (E&O) Insurance Professional liability coverage protecting clients' professional services against claims of negligence, errors, omissions, or inadequate work. Targeted at medical, construction-consultant, IT, legal, accounting, and other professional service firms. Distributed through licensed insurance brokers.
• Construction Insurance Comprehensive protection for construction projects, covering equipment to third-party liabilities. Includes builder's risk, course of construction, contractor coverage, and wrap-up liability for owners, contractors, and developers of multi-party projects. Distributed through licensed insurance brokers.
• Jeweler's Block Insurance Specialized coverage designed for jewelers, protecting inventory and assets against risks in-store, in safes, in transit, and at trade shows. Targeted at retail jewelers, wholesalers, manufacturers, and pawnbrokers. Distributed through licensed insurance brokers.
• Auto Physical Damage Insurance Coverage for commercial vehicles against physical damage from collisions, theft, vandalism, fire, and other incidents. Targeted at commercial vehicle operators including fleets, owner-operators, long-haul trucking, and local delivery services. Distributed through licensed insurance brokers.

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Totalis Program UnderwriterscoreStrategic or Co-development PartnerCHES Special Risks Inc. is a proud member of Totalis Program Underwriters, an organization providing program underwriting capabilities. This affiliation enables CHES to offer specialized insurance solutions and access to markets for challenging risks.
• NFP Insurance Services Corp.coreStrategic or Co-development PartnerCHES Special Risks Inc. is affiliated with NFP Insurance Services Corp., a major insurance broker and advisory firm. This affiliation provides strategic support and resources for the organization's Canadian operations.

Scale indicators1 record

Recent moves6 records

Expansion highlights3 records

Direct peers

• Premier Marine Insurance Group: Canadian specialty MGA platform (now part of the broader Mitchell & Whale / Specialty Lines Group ecosystem) underwriting niche commercial risks through brokers. Closest Canadian MGA-model peer to CHES after Trisura.
• Risk Placement Services (RPS): National specialty wholesale broker and MGA distributing excess & surplus lines through retail agents. Directly comparable to CHES on the specialty MGA intermediation model, with overlap on commercial auto, property, and liability placements.
• Amwins Group: Largest US specialty wholesale distributor and MGA, placing hard-to-place risks through retail brokers. Operating model is functionally the same as CHES's: specialty underwriting authority delegated by carriers, distributed via brokers, compensated by commission.
• Trisura Guarantee Insurance Company: Canadian specialty insurer and MGA platform focused on commercial surety, specialty property & casualty, and warranty lines. A natural Canadian peer to CHES given shared specialty-MGA DNA and similar reliance on broker distribution in non-standard commercial lines.
• Burns & Wilcox: Specialty wholesale brokerage and MGA placing complex and surplus-lines risks through retail brokers. Burns & Wilcox is the closest structural analog to CHES's broker-distributed specialty model; the primary difference is geographic focus (US/UK vs Canada).
• CRC Insurance Group: Specialty wholesale brokerage representing carriers on complex commercial risks through retail broker networks. Comparable to CHES in its reliance on E&S carrier appointments and broker distribution, particularly in commercial property and casualty niche lines.

Broad incumbents

• Aviva Canada: Major Canadian P&C insurer offering personal and commercial lines including specialty commercial products. Functions as both a potential carrier partner and a competitor for specialty placements, similar to Intact's market role.
• Northbridge Financial Corporation: Canadian commercial P&C insurer (Fairfax-owned) underwriting mid-market commercial and specialty risks. Comparable to the carrier side of CHES's marketplace — relevant context for understanding CHES's carrier partners and competitive set.
• Intact Financial Corporation: Canada's largest P&C insurer with broad commercial and personal lines, including specialty units that overlap with CHES's hard-to-place product set. A broad incumbent against which CHES competes for specialty placements rather than a same-model peer.

Emerging players

• Ark Insurance: Canadian specialty insurance intermediary focused on niche commercial risks placed through broker relationships. Smaller and more niche than CHES but overlapping on the specialty-MGA-in-Canada model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/chesspecialrisk
• Facebookfacebook.com/CHESSpecialRisk
• LinkedInlinkedin.com/company/ches-special-risk-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 CHES Special Risk