Industry
Navacord expanded its group benefits and retirement solution business earlier this month when it acquired B.C.-based Arbutus Financial Services. Arbutus has offices in Vancouver and Nanaimo, and provides group benefits and retirement consulting, as well as personal financial services including financial planning, wealth management and life insurance. The firm has expertise within the mining, gaming […]
By Phil Porado | March 17, 2022
2 min read
With demand at an all-time high, cyber insurance is becoming increasingly hard to obtain. Indeed, the category in Canada is facing its first-ever hard market. “At the same time that more businesses are waking up to the technology-related risks they face, fewer insurers are able to write it, or at least at the pace the […]
By Phil Porado | March 16, 2022
3 min read
Facility Association (FA) announced the Newfoundland and Labrador rate board has approved the use of a profit provision for members’ capital. It is the last province to do so, said FA President and CEO Saskia Matheson. “FA member companies support the FARM [facility association residual market] and the guarantee of market availability through capital, […]
By Alyssa DiSabatino | March 15, 2022
Slip-and-fall claims, sewer backup and a hard market pre-dating COVID-19 are among the reasons you may find it difficult to find coverage for clients in the hospitality sector, such as restaurants and bars. “A handful of insurance companies are still willing to write hospitality, but it’s really difficult, and prices have definitely gone up,” said […]
By Phil Porado | March 15, 2022
Calendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center at The Bayes Business School, examines completed deals valued at or above US$100 million. It […]
MONTREAL — Pilots say a Transport Canada backlog is holding up medical certification, leading to months-long delays before they can return to the skies. A significant number of pilots who have been deemed fit to fly by aviation medical examiners have been waiting a year or more to have Transport Canada greenlight their approvals, says […]
By Alyssa DiSabatino | March 14, 2022
4 min read
If your client has rented out part of their home, there’s nearly the same likelihood that they’ve told their insurer as not, according to a recent survey from RatesDotCa and BNN Bloomberg. The survey of 1,511 Canadians found that 42% of homeowners that rent out rooms or a floor in their homes (including basements) don’t […]
By Jason Contant | March 11, 2022
Canadian digital insurance broker and MGA Apollo entered a strategic partnership with Definity Financial Corp. It includes a distribution relationship between Apollo and Definity’s affiliate, Definity Insurance Company. Definity has agreed to complete an initial minority equity investment in the insurtech, and Apollo simultaneously announced a Series B financing with Definity Financial Corporation. “This transaction […]
By Phil Porado | March 11, 2022
Police and small retailers are preparing for an increase in “gas-and-dash” thefts as gasoline prices across Canada soar following sanctions against Russia that have put the squeeze on global oil supply. The invasion of Ukraine just over two weeks ago has prompted some countries, including the United States, to ban imports of Russian oil or […]
Theresa Teixeira, Chief Underwriting Officer, Travelers Canada “The industry has really evolved to a wonderfully warm and inviting place for women to realize their full potential and is far more equipped to supporting varied family dynamics,” says Theresa Teixeira, Chief Underwriting Officer at Travelers Canada. “I have three children – my youngest two were adopted 12 […]
By David Gambrill | March 11, 2022
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