Industry
The Ontario Trial Lawyers Association has updated a three-year-old report suggesting that the Ontario auto insurance industry is far more profitable than the industry thinks – an assertion that insurers say is “simply false.” Released Tuesday, the report, Price Regulation and Possible Premium Overpayments: Automobile Insurance Companies in Ontario, concluded that “cumulative premium overpayments might […]
By Greg Meckbach | May 2, 2018
3 min read
Former chief executives of RSA and Guy Carpenter & Company LLC were elected to new terms on the board of directors of Fairfax Financial Holdings Ltd., Toronto-based Fairfax announced Friday. Fairfax, the corporate parent of Northbridge Insurance and OdysseyRe, held its annual general meeting April 26. All 13 director nominees were elected by an overwhelming […]
By Greg Meckbach | May 1, 2018
2 min read
With the lion’s share of Canadian insurers’ reinsurance coming from outside of Canada, protectionism in the insurance space would not be good for consumers, a lawyer told Canadian Underwriter last week. Some nations – including Thailand, India, China – have “restrictive rules” that privilege domestic reinsurers over foreign reinsurers that not based in those countries, […]
By Greg Meckbach | April 30, 2018
Vancouver-based managing underwriting agency (MUA) Premier Group announced Monday that Mo Kaur will assume the role of president and chief operating officer. Kaur has been part of Premier for six years, serving as senior vice president for the past five years, and contributing to all aspects of the organization. She brings more than 25 years […]
By Jason Contant | April 30, 2018
Your most important meeting of the year with the brokerage’s biggest client falls on an afternoon when your daughter’s soccer team plays in the city championship game. What do you do? A standard response is to feel stress and guilt, says time management coach Elizabeth Grace Saunders, writing in a blog for Harvard Business Review. […]
By David Gambrill | April 27, 2018
VANCOUVER – British Columbia may have unveiled its plan for regulating recreational marijuana, but the enforcement and testing for drug-impaired driving remains hazy. Solicitor General Mike Farnworth says the provinces need to hear “ASAP” from the federal government about what technology might be approved in testing for drug-impairment. Currently, specially trained drug recognition officers conduct […]
By The Canadian Press | April 27, 2018
1 min read
After working for 22 years at large and/or publicly-traded insurance companies such as Intact Financial Corporation, Economical Insurance and Aviva Canada, Chris Hibbs made the big move over to the mutual insurance side. A mutual insurance company is owned entirely by its policyholders. Any profits are either retained within the company or rebated to policyholders […]
By David Gambrill | April 26, 2018
Amid discussion that insurance industry executives are disproportionately male in an industry composed primarily of women, a proposal to mandate diversity policies for boards of Canadian corporations is one step closer to becoming law. The House of Commons voted April 19 in favour of changes made in March by the Senate to Bill C-25, which […]
By Greg Meckbach | April 25, 2018
The Insurance Brokers Association of Canada (IBAC) is welcoming explicit restrictions on banks’ business powers related to insurance contained in Bill C-74, but wants to make sure the historical separation between banks and insurance continues. The federal government’s recently introduced budget implementation bill includes proposed amendments to the Bank Act that give greater flexibility for […]
By Jason Contant | April 20, 2018
Two days after Sedgwick Claims Management Services Inc. announced that it had completed its acquisition of Cunningham Lindsey, Sedgwick announced that Michael Holden will serve as president of its combined business operations in Canada. Holden has led Sedgwick and subsidiary Vericlaim’s operations and business expansion in Canada since 2016, Sedgwick noted in a press release […]
By Jason Contant | April 18, 2018
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