Industry
Consolidation in the insurance industry is reducing consumer choice and putting more pressure on employees, Steve Smith, president and CEO of Cambridge, Ont.-based Farm Mutual Reinsurance Plan Inc., said during his second last week on the job. “To me it’s kind of a sad thing,” Smith said of industry consolidation – without naming names – […]
By Greg Meckbach | August 26, 2019
3 min read
TORONTO – Five women and a baby were injured after a vehicle allegedly ran a red light in the heart of Toronto’s downtown core, city police said Thursday. Sgt. Brett Moore of the force’s traffic services division said the resulting three-car pileup sent at least four of those hurt to hospital, with one of them […]
By Greg Meckbach | August 23, 2019
2 min read
So long as a trade war and tariffs being thrown around, recessionary fears will always linger over the head of the economy. But that doesn’t mean it’s all storm clouds. One economist believes Canada is in good shape. The latest chapter in the trade war happened just before the weekend. China announced a tariff hike […]
By Adam Malik | August 23, 2019
A new managing general agency (MGA) offering optional auto insurance has launched in British Columbia, with the goal of moving into homeowners’ insurance within a year. Vancouver-based Stratford Underwriting Agency is the only MGA selling the complete private passenger suite of products for optional coverage, the company’s CEO, Colin Brown, told Canadian Underwriter Wednesday. Optional […]
By Jason Contant | August 23, 2019
4 min read
VICTORIA – New policies for ride-hailing services in British Columbia will allow companies such as Uber and Lyft to operate a limitless number of vehicles beyond geographical boundaries that are in place for the taxi industry. Chair Catherine Read of the Passenger Transportation Board said Monday the boundaries where passengers can be picked up must […]
By The Canadian Press | August 22, 2019
If your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more than 1,700 employees of healthcare organizations in the United States and Canada (including more than […]
By Jason Contant | August 21, 2019
Commercial clients looking for ways of managing wildfire risk should turn their mind at some point to flammable liquid storage. “You wouldn’t want a gas can right up against the building,” said Scott Steinmetz, global head of risk control, MidCorp at Allianz Global Corporate & Specialty, in a recent interview. MidCorp is a division of […]
By Greg Meckbach | August 19, 2019
Intact’s proposed $1-billion acquisition of The Guarantee and the managing general agent Frank Cowan is intended to bolster the company’s strength in specialty lines – primarily in the areas of surety, public entities, and high-net worth clients, company executives said in an investors’ call Thursday. “Overall, it would be difficult to find a better strategic […]
By David Gambrill | August 16, 2019
Risk managers using colour-coded heat maps may be pressed by their bosses for more specific information on their exposures, a new risk management expert at KPMG Canada suggests. Heat maps are a way for risk managers to report risks to stakeholders within the organization, Deloitte explains in a report. With a heat map, a risk […]
By Greg Meckbach | August 15, 2019
Canada’s largest property and casualty insurer, Intact Financial Corp. has agreed to buy The Guarantee Company of North America and MGA Frank Cowan Company Limited for about $1 billion from Princeton Holdings. Princeton will continue to own retail brokerage Cowan Insurance Group as well as other businesses, including Cowan Asset Management and Fountain Street Finance. […]
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