Industry
Your clients may be paying higher rates but hard market may not be the right way to describe it, speakers suggested at a recent insurance conference. “I don’t personally know if I would call it a hard market yet. What I would call it is pricing coming back up to something that is a long-term […]
By Greg Meckbach | April 5, 2019
2 min read
OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking Monday to a business audience in Iqaluit, Nunavut, noted the difficulties related to the late-2018 […]
By Greg Meckbach | April 2, 2019
3 min read
Auto coverage is changing for British Columbia motorists effective today. Accident benefits coverage from Insurance Corporation of B.C. has more than doubled from $300 per week to $740 a week. That is one of several changes – for claims made on or after April 1, 2019 – ICBC said last week in a release. ICBC […]
By Greg Meckbach | April 1, 2019
The healthcare industry continued to be the most targeted sector by cyber criminals in 2018, accounting for 41% of attacks, according to the Beazley 2019 Breach Briefing, released Tuesday. “Healthcare records are more valuable to attackers and sell for significantly higher than financial data on the dark web,” explained Lauren Winchester, privacy breach response services […]
By Jason Contant | March 30, 2019
AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that came to light late last week. The decision does not affect AIG’s commercial business, which […]
By Jason Contant | March 28, 2019
Toronto-based Fairfax Financial Holdings is among the insurers who own Lloyd’s syndicates that were shut down at the end of 2018. The Corporation of Lloyd’s released Wednesday a list of the eight syndicates that stopped trading as of Dec. 31. Among them are syndicates ultimately owned by Paris-based AXA-XL and Bermuda-based Axis Capital Holdings Inc. […]
By Greg Meckbach | March 27, 2019
Nearly half of Canadian consumers would be willing to share “significant personal information,” such as location data and lifestyle information, with their insurer or bank in exchange for lower pricing on products and services, according to a new report from Accenture. Globally, more than half of consumers would share that data for benefits, including things […]
By Jason Contant | March 22, 2019
Economical Insurance is a step closer to demutualization and becoming publicly traded on the stock exchange. An overwhelming majority (99%) of the insurer’s mutual policyholders voted Wednesday in favour of a demutualization proposal released in January. Several more steps are necessary before Economical could demutualize, but the insurer described Tuesday’s vote in Kitchener, Ont. as […]
By Greg Meckbach | March 20, 2019
Trisura Guarantee Insurance Company has appointed Chris Sekine as president and CEO. He succeeds Mike George, who will continue to work with Trisura Guarantee on a consulting basis. Sekine has led Trisura Guarantee’s surety group since its inception. He has helped to set the company’s executive and strategic direction, and played a role in its […]
By David Gambrill | March 19, 2019
A Calgary-based Lloyd’s coverholder has re-launched its website to make it easier for brokers to bind policies for special events without having to deal with a lot of paper forms. PAL Insurance Brokers Canada Ltd. has allowed clients to apply for policies online for at least four years, said Matthew Taylor, general manager of PAL, […]
By Greg Meckbach | March 19, 2019
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