Industry
VANCOUVER – Residents of a tiny community in northeastern British Columbia are suing the local and provincial governments over two slow-moving landslides they claim caused their property values to plummet. In a notice of civil claim filed in B.C. Supreme Court this week, 35 residents in Old Fort, B.C., allege negligence and breach of their […]
By Jason Contant | January 21, 2021
3 min read
Brokerage NFP has expanded its property and casualty brokerage presence in Ontario with the acquisition of EdgeHill Insurance Brokers Ltd. The deal is the latest mergers and acquisitions news in the Canadian P&C space. Also in the news, Canadian Broker Network acquired Quebec-based brokerage Invessa. NFP announced their acquisition of Edgehill last week in a […]
By Jason Contant | January 20, 2021
Six subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s Bench of Alberta has ruled that the insurers had simply made a mistake in referencing […]
By David Gambrill | January 20, 2021
4 min read
One prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that clients may try to hold their brokers responsible for not providing them with pandemic coverage, […]
By Adam Malik | January 20, 2021
OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in high-contact service industries will carry the burden of a new round of lockdowns, which the […]
Business interruption, the COVID-19 pandemic, and cyber are the top three risks facing businesses this year – and all three are connected to each other, says a new report. Allianz Global Corporate & Specialty (AGCS)’s Risk Barometer for 2021 found those three risks to be at the top of the list for its customers around […]
By Adam Malik | January 19, 2021
Intact Financial Corp.’s proposed takeover of RSA Canada has crossed two additional hurdles. The deal was approved Monday by a majority of shareholders of London-based RSA, Intact said in a release. Canada’s federal competition bureau has also approved the deal, Intact said Monday. Intact and Denmark-based Tryg A/S intend to form a consortium to jointly […]
By Greg Meckbach | January 18, 2021
2 min read
Heartland Farm Mutual Inc. and The Kings Mutual Insurance Company have reached an agreement to merge under the name Heartland Farm Mutual Inc. Waterloo, Ont.-based Heartland Farm Mutual and Berwick, N.S.-based The Kings Mutual Insurance Company announced the proposed merger Monday. Policyholder meetings are planned for May 2021, with a proposed effective date for amalgamation […]
By Jason Contant | January 18, 2021
Better engagement with customers and the ability to respond quickly to change are just two reasons why the leader of one of Canada’s biggest direct insurance companies sees an advantage for companies like his over competitors that sell through the broker channel, all of which is being enforced thanks to the COVID-19 pandemic. Better engagement […]
By Adam Malik | January 18, 2021
Betty Clarke recently received the highest honour for risk managers in Canada. One example of why she is deserving of such recognition lies in how she helped her employer prepare to absorb a drastic insurance rate increase. Clarke is the manager of corporate risk and recovery for the City of St. John’s. She prides herself […]
By Adam Malik | January 15, 2021
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