Industry
VANCOUVER – British Columbia officials are reassuring residents that health and emergency services are ready to help people get through another heat wave this week. Public Safety Minister Mike Farnworth says Emergency Management BC is working with communities to ensure they have funding for measures such as cooling centres with targeted support for vulnerable people […]
By The Canadian Press | August 13, 2021
2 min read
Canada’s hard market in commercial P&C is showing no signs of letting up, with all major lines seeing average premium renewal rate increases in the second quarter of 2021. “Overall, the magnitude of rate increases across all segments included in the index relative to average premium renewals in the same quarter last year is 9.12% […]
By Jason Contant | August 11, 2021
Intact is probably not finished acquiring more Canadian insurers even with its recent acquisition of RSA Canada. On June 1, Intact closed a three-way deal in which Intact and Tryg A/S acquired London-based RSA plc. As a result, Intact now owns former RSA operations in several nations including Canada, Britain and Ireland. During an online […]
By Greg Meckbach | August 11, 2021
A Hub Canada executive says M&A is likely to heat up as serious buyers take renewed interest in P&C brokerages. In an interview with Canadian Underwriter, Greg Belton, executive chairman of Hub International Canada, said there is “no lack of new interest or real buying power that will continue to fuel acquisitions in Canada’s P&C […]
3 min read
A pattern of dry, hot weather across the Prairies over the past few years has resulted in a grasshopper infestation of epic proportions, with some experts saying the nuisance is negatively affecting every part of the agriculture industry. For several weeks, communities and rural areas across southern Alberta, Saskatchewan and Manitoba have been reporting a […]
Residents of nearly 400 properties on one flank of a destructive wildfire in British Columbia’s southern Interior are being allowed to head home. The Thompson-Nicola Regional District has downgraded an evacuation order to an alert. It has also issued an all-clear for hundreds more homes threatened by the 557-square kilometre White Rock Lake wildfire burning […]
By The Canadian Press | August 10, 2021
As the entertainment and events industry emerges from COVID-19, Canadian brokers are becoming more confident about securing coverage for their clients. Claims from cancelled or postponed events and productions have been a large source of pandemic-related losses for the global insurance industry, said Thomas Sepp, chief claims officer with Allianz Global Corporate & Specialty (AGCS), […]
By Jason Contant | August 10, 2021
It looks like this year’s wildfire season in British Columbia could be one for the record books. Between Apr. 1 and Aug. 9 of this year, the province saw 1,456 wildfires and nearly 650,000 hectares of area burned. This compares to the 10-year average of 1,356 wildfires and 347,104 hectares burned over a full fire […]
A recent report from Deloitte details the benefits and threats of blockchain technology in P&C insurance, from improving underwriting and reducing fraudulent claims to challenging the status quo. “Given its ambitious potential to drive simplicity and efficiency through the establishment of new financial services infrastructure and processes, this technology is rapidly gathering momentum within the […]
By Jason Contant | August 9, 2021
BrokerLink has doubled its presence in Atlantic Canada and is now one of the largest brokerages on the east coast following its acquisition of Archway Insurance and South Coast Insurance Agency Limited. BrokerLink, a subsidiary of Intact Financial Corporation, announced Thursday it had acquired Archway Insurance and its subsidiaries Upstairs Finance Inc. and C.D. Anderson […]
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