Industry
If Economical Insurance gets permission to demutualize, it is “likely” the company will attract interest from a large insurer as a potential takeover target, an investment analyst predicts. “A very widely held assumption among investors is that Intact would look at targeting Economical once available,” said Paul Holden, an equity analyst with the Canadian Imperial […]
By Jason Contant | November 21, 2017
2 min read
With Vancouver City Council voting to approve new regulations for short-term rentals, including Airbnb, and Toronto considering the move, the question remains: who is insuring these rentals? Stefan Tirschler, product and underwriting manager at Vancouver-based Square One Insurance Services, told Canadian Underwriter last week that his company offers coverage for short-term rentals, including home contents, […]
By Jason Contant | November 20, 2017
Brokerage owners who pay their young adult children dividends to help with post-secondary education should “reassess” that strategy in light of proposed tax changes, an accounting expert suggested Monday. Among the proposed changes announced in July by Finance Minister Bill Morneau was an expansion of the tax on split income (TOSI) – originally brought in […]
By Canadian Underwriter | November 20, 2017
3 min read
Economical Insurance is looking to “redefine” its approach to commercial insurance with a new strategy and structure, the insurer’s manager of public and media relations, Doug Maybee, told Canadian Underwriter on Thursday. “It certainly shows that we are taking steps to make it easier for brokers to do business with us,” Maybee said in a […]
By Canadian Underwriter | November 16, 2017
Federal restrictions on banks selling property and casualty insurance are up for review again in 2019 but a politician told brokers Tuesday he does not foresee many changes affecting insurance. “I think we need to ensure that we have a healthy competitive marketplace for insurance at the point of origination of insurance,” Francesco Sorbara, MP […]
By Jason Contant | November 14, 2017
Brokers who watched the final panel of insurance chief executive officers (CEOs), at the recent RIMS Canada’s annual conference, would have heard that the Corporation of Lloyd’s perceives terrorism and nuclear incidents as two of today’s “top four” man-made threats. Power outages and a market crash are the other two man-made threats that comprise the […]
By Greg Meckbach, Associate Editor | November 14, 2017
1 min read
Many wealthy homeowners have risks that are hard to place and may be suited for high-net-worth insurance policies, which can be tailored to reflect differences in contents and lifestyle.
By Tia Becker, Manager of Personal Insurance, Burns & Wilcox Canada | November 10, 2017
The government of Manitoba has unveiled a hybrid retail and distribution model for the recreational use of cannabis, one that involves both the public and private sectors. The model will see the Liquor and Gaming Authority (LGA) given an expanded mandate to regulate the purchase, storage, distribution and retail of cannabis, the provincial government said […]
By Canadian Underwriter | November 10, 2017
Property & Casualty gross written premiums (GWP) for the nine months ending Sept. 30 declined 2% in U.S. dollars to US$25.3 billion from US$25.7 billion, Zurich Insurance Group reported on Thursday. In particular, P&C GWP in North America for 9M 2017 was US$11.6 billion compared to US$11.58 billion in 9M 2016; about US$11 billion for […]
Hannover Re reported on Wednesday a Group net income of 548.9 million euros for the third quarter of the year ending Sept. 30, despite an above-average burden of catastrophes losses. The Group net income was down from 791.9 million euros in the third quarter of 2016 due to heavy loss expenditure from hurricane and earthquake […]
By Canadian Underwriter | November 9, 2017
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