Industry
Quebec is seeing several proposed legislative changes that will – or could – impact property and casualty insurance in the province, the Insurance Bureau of Canada’s (IBC) director of communications and public affairs told Canadian Underwriter Thursday. Pierre Babinsky was discussing industry trends facing auto, property and commercial lines in Quebec. On the commercial side, […]
By Jason Contant | May 17, 2018
2 min read
Nearly two-thirds of polled drivers in Newfoundland and Labrador have said that auto insurance has become “financially difficult” to pay for, according to a new poll commissioned by Aviva Canada. “The system is broken and insurers, government and other stakeholders need to work together to fix it,” says Gordon Murray, Aviva’s vice president of broker […]
By Jason Contant | May 14, 2018
3 min read
If Economical Insurance becomes publicly-traded on the stock exchange, it could eventually be acquired, but company officials have no intention of making Economical an easy acquisition target. “We certainly made a determination a long time ago that we were not going down this (demutualization) road … to expose ourselves to be taken out by another […]
By Greg Meckbach | May 9, 2018
Gerry Hooper, chair of the board of Economical Insurance from 2005 through 2016, has retired from the board of directors of Economical and is now chairman emeritus, officials with the property and casualty insurer said Monday. Hooper, a former executive vice-president and chief financial officer of Schneider Foods, joined the board of directors of Waterloo, […]
By Greg Meckbach | May 8, 2018
SAINT JOHN, N.B. – For 48 years, Jerry McFarland’s rustic cottage on New Brunswick’s Grand Lake was a cherished refuge for family and friends, where precious summertime memories were carefully recorded in well-worn journals. Today, McFarland’s cottage is in ruins, shoved off its foundation and torn apart on the weekend by rising floodwaters. “It was […]
By Jason Contant | May 8, 2018
5 min read
Applied Systems’ new IVANS Exchange online tool for Canadian brokers will include a feature that allows caching and housing of data in a broker management system (BMS) for 90 days. This allows brokerages to keep the data, even if their system is down for an extended period of time, or to handle broken files. “It […]
By Jason Contant | May 7, 2018
The Co-operators announced Monday that homeowners in British Columbia and Nova Scotia can now be insured for storm surge damage, calling the coverage the first and only of its kind in Canada. Storm surges are waves caused by storms and hurricanes and present a significant flood risk, especially in coastal regions where extreme weather patterns […]
Canadian Broker Network (CBN), a network of independent insurance brokers, has sold managing general agent South Western Insurance Group Limited (SWG) to Three Holdings Inc. CBN said the transaction will allow its member brokerages to focus their efforts on creating insurance solutions for personal and business clients, while allowing SWG to align with a group […]
By David Gambrill | May 7, 2018
Insurance professionals fresh to Canada’s property and casualty insurance market from Europe may notice how much of Canada’s commercial business is underwritten by Lloyd’s of London. “Lloyd’s (as a market) is again the largest commercial writer in Canada [in 2017], taking that crown from Intact back in 2015,” MSA Research noted in its most recent […]
OTTAWA – Prime Minister Justin Trudeau isn’t backing down from his government’s much-maligned timeline for legalizing marijuana, despite a growing chorus of calls from senators, Indigenous leaders and others to delay the plan for up to a year. Trudeau says the plan to make recreational pot legal by this summer will go ahead without delay. […]
By Jason Contant | May 6, 2018
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