Industry
Huge gaps in earthquake coverage in eastern Canada, the impact of climate change on property damage, and harmonizing regulations across the globe are all top of mind for Karen Gavan, the former CEO of Waterloo, Ont.-based Economical Insurance. Perhaps best known in the Canadian property and casualty industry for leading Canada’s first P&C mutual insurer […]
By Greg Meckbach, Associate Editor | February 21, 2018
2 min read
IQALUIT, Nunavut – With marijuana legalization only months away, members of Nunavut’s new government are finally discussing how the territory will handle the change. “We do feel behind in our preparation,” said Dan Carlson, Nunavut’s deputy minister of finance. The territory had an election in the fall and, because of its consensus-style government, little could […]
By The Canadian Press | February 20, 2018
3 min read
Ontario’s Insurance Act and its regulations prevent insurers from doing business and communicating with their customers through digital or mobile platforms, the Insurance Bureau of Canada (IBC) noted on Monday. Canadian Underwriter asked IBC about some of the red tape that could be cut in the insurance industry to help increase innovation. Steve Kee, IBC’s […]
By Jason Contant | February 13, 2018
As Canada’s senators debate a bill that would legalize recreational marijuana, Canada’s largest property and casualty insurer is concerned about the “potential” for more auto collisions arising from the actions of stoned drivers. In its management discussion and analysis of its financial results for the fourth quarter of 2017, Intact Financial Corp. noted some concerns […]
By Greg Meckbach | February 13, 2018
Intact Financial Corp. plans to apply nation-wide for rate increases in personal auto, a move to improve the firm’s profitability in personal auto insurance. “In terms of additional rate actions in 2018, we are expecting a further 5% [increase] in rate in 2018,” Darren Godfrey, senior vice president of personal lines for Intact Insurance, said […]
By Greg Meckbach | February 12, 2018
TORONTO – The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana. The Ontario Cannabis Retail Corporation (OCRC), a subsidiary of the Liquor Control Board of Ontario, will use the […]
By The Canadian Press | February 12, 2018
Economical Insurance appears to be a step closer to demutualization, but a conversion proposal has been held over until June 30, Economical said Thursday. A proposal to convert Waterloo, Ont.-based Economical to a stock company was originally due to the federal Office of the Superintendent of Financial Institutions (OSFI) Feb. 22. OSFI has granted the […]
By Greg Meckbach | February 9, 2018
Diversification into oil and gas partially fueled Hub International‘s recent acquisition of Kindersley Insurance, the company told Canadian Underwriter Thursday. Keith Jordan, president and CEO of Hub Manitoba, said acquiring the shares of Kindersley Insurance was beneficial for both companies. “Hub sought more representation in Saskatchewan and wanted to diversify our offerings in the province […]
By Jason Contant | February 9, 2018
Directors’ and officers’ (D&O) insurers may breathe somewhat easier after a recent Supreme Court of Canada decision that appears to have put the final nail in the coffin of a shareholders’ class action lawsuit that carried the potential to stop the clock on three-year limitations periods. Insurance Bureau of Canada, representing Canada’s home, auto and […]
By Canadian Underwriter | January 29, 2018
Canadian Underwriter conducted a poll of its broker readers last week. Out of the 401 responses CU received, about 80% placed business with Intact. Among the survey findings, we asked brokers to record their level of agreement with the following two statements: Disagree Strongly, 13.33% Disagree Somewhat, 40.42% Agree Somewhat, 38.33% Agree Strongly, 7.92% […]
By David Gambrill | January 29, 2018
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