Industry
VANCOUVER – The Insurance Corporation of British Columbia says it’s temporarily delaying the delivery of COVID-19 rebate cheques due to a cyberattack on a third-party vendor contracted to provide printing and distribution services. ICBC says in a statement the vendor held customer names and addresses, as well as the dollar amounts and numbers of the […]
By The Canadian Press | March 18, 2021
1 min read
If Ernest Mashingaidze has one piece of advice he could share with his early career self, it would be to not fear the mystical creature. “How many times have people looked at a job application and it says you need 10 years of experience or education, things you might not necessarily have at the time,” […]
By Jason Contant | March 17, 2021
3 min read
Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A deals as those worth $500 million or higher, of which there were 30 in 2021 […]
By David Gambrill | March 17, 2021
Facility Association has announced a reduction in deductibles for the trucking industry. In her remarks at Facility Association’s recent annual general meeting, FA’s president and CEO Saskia Matheson said the 25% deductible rule for high-valued commercial vehicles will be dropped to 5%. “This will go in as absolutely soon as it is possible, and we’ll […]
By Adam Malik | March 17, 2021
2 min read
A key step in Economical Insurance’s demutualization process, the third and final policyholder vote, is scheduled May 20, the Waterloo, Ont.-based insurer announced this week. If a client had a policy – either mutual or non-mutual – with Economical in late 2015, they would likely be eligible to vote at that May 20 webcast, which […]
By Greg Meckbach | March 17, 2021
TORONTO – Canada’s main cybersecurity watchdog has issued another warning that organizations of all sizes need to protect themselves from a recently discovered vulnerability in Microsoft Exchange email servers. The Canadian Centre for Cyber Security said it has received reports that some Microsoft Exchange servers in Canada haven’t been updated with software patches that close […]
Seven in 10 consumers and small business owners want home protection and usage-based insurance policies for the current remote working environment, a recent survey from Ernst & Young found. “With consumers spending more time at home and online, new concerns are mounting over things such as protection against cyber fraud or paying insurance for a […]
By Jason Contant | March 16, 2021
Defining your personal brand early in your insurance career path can pay dividends in the long-run, viewers attending an Insurance Institute of Canada webinar heard recently. Three-quarters of lifetime earnings are defined within the first 10 years of a person’s career path, so it’s important to be deliberate about what your brand is and what […]
Nova Scotia’s insurance regulator has approved RSA Canada’s proposed introduction of a “Quality Rating Factor” (QRF), which uses credit scoring for rating auto insurance. RSA Canada’s proposed QRF, obtained with the client’s consent, will only apply to writing new auto business, not existing business. The board noted that it has already approved the use of […]
By David Gambrill | March 16, 2021
Legal expense insurance company ARAG Group has announced that it will be acquiring competitor DAS Legal Protection in Canada. The deal was announced Tuesday in a move that will see the German-based company acquire the Canadian MGA. Terms of the deal were not disclosed. DAS managed premiums of about $29.3 million in 2019, according to […]
By Adam Malik | March 16, 2021
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