Industry
The Insurance Bureau of Canada (IBC) is calling for the creation and regulation of P&C group insurance in Quebec. P&C group insurance allows for a number of people, or a group, to be insured in a single contract. For example, a ridesharing company could use a group insurance contract to cover every driver while connected […]
By Jason Contant | August 24, 2018
3 min read
Auto insurance providers should remind motorists that in the event of an accident, it is usually the driver – not the tow truck operator – who decides where the car gets towed. Motorists often don’t know what rights they have if they are involved in a collision, Teresa Di Felice, assistant vice president of government […]
By Greg Meckbach | August 24, 2018
2 min read
The Hartford has signed an agreement to acquire specialty insurer The Navigators Group Inc. for US$2.1 billion in cash. Expected closing date is 2019.
By David Gambrill | August 22, 2018
Rissa Revin will be the new CEO of DAS Legal Protection Inc., effective Sept. 1. Revin has more than 27 years of experience in the legal, insurance and banking industries. She has held executive positions with a number of multinational and Canadian insurance companies, with a focus on the specialty markets. She succeeds Barbara Haynes, […]
1 min read
If the insurance industry wishes to sell more products to Millennials, the industry must adapt to what Millennials want, and not the other way around, according to a recent white paper from Cake & Arrow, a New York City-based agency that designs and builds digital products for the insurance industry. For example, the industry might […]
By Jason Contant | August 20, 2018
OTTAWA – One of the world’s largest short-term rental websites is inviting the Trudeau Liberals to create a regulatory regime for the burgeoning industry – something its critics have long advocated and raising pressure on the government to set rules in the market. Airbnb’s budget proposal to the House of Commons finance committee asks the […]
For Canadian managing general agents, maintaining a diversified portfolio and effective distribution channel for products is crucial to success, according to Gary Hirst, president of CHES Special Risk. Hirst spoke to Canadian Underwriter Thursday, one day after CHES announced it was entering into the Quebec market. He was responding to a question about key issues […]
By Jason Contant | August 17, 2018
The corporate parent of Canada’s fourth-largest liability insurer – American International Group Inc. – is actively looking for companies to acquire. “I always look for acquisitions,” said Brian Duppereault, CEO of New York City-based AIG, during a recent earnings call. Duppereault did not specifically say AIG is looking to buy any Canadian insurers. AIG Insurance […]
By Greg Meckbach | August 15, 2018
Despite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce its market share in Ontario auto,” a spokesperson told Canadian Underwriter Monday. For its part, […]
By Greg Meckbach | August 14, 2018
Ontario’s newly-elected government has been silent on auto insurance reform, but the head of Canada’s largest property and casualty insurance carrier is encouraged by the Progressive Conservative Party’s historical leaning towards loosening rate regulation. The Progressive Conservative Party was returned to power in Ontario’s provincial election this past June. “In dialogue over the years with […]
By Greg Meckbach | August 9, 2018
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