Industry
A trial to determine whether The Co-operators was negligent in distributing insurance funds contrary to the instructions of a mortgagee will be allowed to continue, the Ontario Superior Court of Justice has ruled. The court denied a motion for summary judgment by The Co-operators to quash the civil suit, with the insurer arguing that the […]
By David Gambrill | November 22, 2018
4 min read
Clients in Saskatchewan, Manitoba and Atlantic Canada who rent out their homes like hotels will soon get coverage options through an insurtech partnership involving Slice Labs. The Co-operators Group Ltd. announced Tuesday that Duuo is expanding to more provinces. Duuo is the “initial product” in Slice Labs’ partnership with Guelph, Ont.-based Co-operators, Slice Labs chief […]
By Greg Meckbach | November 20, 2018
2 min read
Editor’s Note: George Longo, president and CEO of commercial brokerage Towerhill Insurance Brokers, sold his Towerhill retail brokerage business to BrokerLink, as reported on Nov. 12, 2018. In a statement to his clients, Lloyd’s syndicates and colleagues, Longo said he sold his Towerhill retail brokerage and would be continuing to dedicate his full efforts to […]
By Jason Contant | November 12, 2018
CAA Club Group has agreed to buy non-standard auto insurer Echelon Insurance for $175 million, the companies said Friday. The deal will allow CAA Insurance to reach new markets and customers, CAA Club Group president Jay Woo wrote in an email to Canadian Underwriter. If the deal closes, CAA Club Group will be able to […]
By Greg Meckbach | November 9, 2018
3 min read
A US$6-billion deal that could form the world’s largest commercial brokerage is one step closer to reality. Britain’s Jardine Lloyd Thompson Group plc announced Wednesday that 99.9% of its shareholders voted in favour of having JLT acquired by Marsh & McLennan Companies Inc. Both firms have several commercial brokerage offices across Canada. The merger is […]
By Greg Meckbach | November 8, 2018
As both personal and commercial markets continue to show signs of hardening, Intact Financial Corporation will not pursue growth by lowering rates as 2019 approaches. “We’re not chasing growth by lowering rates as we move into 2019,” Darren Godfrey, Intact’s senior vice president of personal lines, said Wednesday during an earnings call discussing its Q3 […]
By Jason Contant | November 8, 2018
Canada’s largest insurer is supportive of one element of a private member’s bill that would rescind an Ontario regulatory bulletin that sets limits on territorial rating factors. Bill 42, the Ending Discrimination in Automobile Insurance Act, was tabled Oct. 15 by backbench Progressive Conservative MPP Parm Gill. The bill would amend the Automobile Insurance Rate […]
A merger agreement involving Sirius International Insurance Group Ltd., which sells reinsurance in Canada, has closed. Bermuda-based Sirius started trading Monday on the NASDAQ. Sirius America Insurance Company sells reinsurance through a Toronto office. In Canada, the firm had net premiums earned of $3.9 million in 2017, according to the Canadian Underwriter Statistical Guide. Sirius […]
By Greg Meckbach | November 6, 2018
Proposed regulations on deductibles for condominium insurance in Quebec need to be clear, affordable and consider the number of units in the building, the province’s self-regulatory body for brokers, agents and claims adjusters said Monday. “The government is saying, ‘Well, you shouldn’t be able to increase the deductible too much because otherwise if you do […]
By Jason Contant | November 6, 2018
Travel insurance and assistance provider Allianz Global Assistance Canada (AGAC) has appointed Chris Van Kooten as chief executive officer, effective immediately. Van Kooten brings extensive insurance industry experience to his new position, having held executive leadership roles with several Canadian insurance companies. In recent years, he held actuarial roles with increasing responsibility at both The […]
By Jason Contant | November 5, 2018
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