Industry
HALIFAX – The Nova Scotia government has declared a localized state of emergency in part of downtown Halifax in order to speed up removal of a construction crane blown down during post-tropical storm Dorian. Labour Minister Labi Kousoulis said Wednesday the step shifts the liability for potential damage during the crane’s removal to the province. […]
By The Canadian Press | September 19, 2019
2 min read
Insurance rates on renewal are up nearly 4% in the Lloyd’s market, which has returned to profitability. “While market conditions generally remain at historically competitive levels, price increases have been witnessed across all major lines, most notably in property and aviation,” the Corporation of Lloyd’s said in its financial report for the first six months […]
By Greg Meckbach | September 19, 2019
Now is a good time for brokerages to sell their businesses and in some cases, the buyers come from outside the industry, speakers told insurance professionals at the recent A.M. Best briefing. “If I was in the [P&C] business I would love to be acquired by Intact, Aviva or RSA,” said Ron Stokes, EY Canada’s […]
By Greg Meckbach | September 17, 2019
Despite the hoopla over insurtech, the Amazon model of commerce is not about to replace the broker any time soon, analysts with A.M. Best Company Inc. told Canadian insurance professionals. “A lot of what these insurtech companies are getting to realize is that they hit this wall called regulation. They have never heard of it […]
By Greg Meckbach | September 16, 2019
3 min read
CALGARY – A Calgary judge who has ordered a lengthy prison term for a woman convicted in a drunk-driving crash that killed a young man says Canadians are not getting the message about the dangers of driving impaired. Court of Queen’s Bench Justice Keith Yamauchi made the comment Thursday when he sentenced Jaylene Lagrelle to […]
By The Canadian Press | September 16, 2019
HALIFAX _ Nova Scotia’s Labour minister says work will begin this weekend to remove a huge construction crane that collapsed in Halifax during Hurricane Dorian. Labi Kousoulis says a structural engineering report has been completed and approved by his department and Halifax Regional Municipality Fire Department. The twisted, yellow structure is draped over a building […]
By The Canadian Press | September 13, 2019
Remarkable product innovation can occur without really ever changing the core coverage of the product, Marc Lipman, chief operating officer at AIG Insurance Company of Canada, said Tuesday at the Connected Insurance Canada conference. He used the example of travel insurance as one traditional, staid product that has gone through a “renaissance” in innovation. “It […]
By Jason Contant | September 13, 2019
TORONTO – A woman who rented a minivan is on the hook for thousands of dollars after her son, who had a suspended licence, got behind the wheel and crashed, an Ontario judge has ruled. The Superior Court ruled that Tricia Richards must cover the costs of replacing the vehicle – said to be a […]
By Greg Meckbach | September 12, 2019
The launch of Canadian National Insurance Crime Services [CANATICS] was a good move in the fight against auto claims fraud, but Canada is still at a disadvantage to other countries, a former police detective and senior Aviva claims executive said Wednesday. “It’s a great start,” Gordon Rasbach said of CANATICS during a panel discussion at […]
Quebec’s eighth largest property and casualty insurer has a new president. François Blais is now president of Industrial Alliance Auto and Home Insurance and Prysm General Insurance, parent company iA Financial Corporation Inc. announced Tuesday. Blais, who joined Industrial Alliance in 2004, was already chief operating officer of Quebec City-based iA Auto and Home and […]
By Greg Meckbach | September 10, 2019
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