The Ostic Group and Economical Insurance
At The Ostic Group, we take pride in our commitment to supporting the communities we’re in. From community events and charitable organizations to local educational programs and sports teams, we take every opportunity possible to make a difference where we work. The Ostic Group’s relationship with Economical Insurance began in 1907 with the predecessor of our operation. It is this mutual belief in improving the communities we work in that makes our century-long partnership so rewarding.
Since being founded in 1871, Economical Insurance has made one promise to their customers: they’ll be there when you need them most. It is their commitment to this promise that has helped them grow to be one of Canada’s leading property and casualty insurance companies.
For Economical, their commitment to being there when you need them goes beyond just insurance. Each year, their team supports organizations that share Economical’s goal of making a difference in the communities they work in. To maximize their support, Economical has developed four areas of strategic focus organizations must fall in. These focus areas include: safety and security; youth and education; arts and culture; and health and wellness. By working with organizations that fall within these focus areas, Economical is able to invest $1 million to bettering communities they work in across Canada.
With the act of giving so deeply ingrained in the company culture, it’s no surprise that Economical employees are active volunteers themselves. Through their employee volunteer program, Economical employees have the ability to take up to two paid days off work each year to volunteer in their community. Last year, 338 employees took advantage of the program, contributing 2,440 hours of volunteer work to the charities they support. To encourage employees to make volunteering a part of their life, all full-time Economical employees who volunteer at least 40 hours at a registered charity have the opportunity to apply for a $500 grant each year for their chosen organization. Since it was implemented in 2012, the employee volunteer program has taken off and become a unique differentiating factor for the organization.
When it comes to making a difference in our communities, we believe that businesses have a critical role to play. The team at Economical shares this belief, setting the benchmark for what can be done when organizations make a promise to creating positive change where they work. It is this mutual commitment to community improvement that makes Economical Insurance and Ostic partners for life.