Operations
The Ontario government re-introduced its 2022 budget and, while there were no changes from an auto insurance perspective, creating choice for consumers will be among the industry’s main concerns, the Insurance Bureau of Canada (IBC) told Canadian Underwriter. The budget document reaffirms the government’s commitment to creating more choice for consumers, cracking down on auto […]
By Alyssa DiSabatino | August 10, 2022
2 min read
Almost 40% of small business owners say they don’t have a business insurance policy, and another 25% say they don’t think they need it, finds a recent survey of 222 small business owners and self-employed professionals in Canada. The survey also asked respondents if they have a business insurance policy and how often they […]
By Alyssa DiSabatino | August 9, 2022
Westland Insurance Group yesterday acquired one of Ontario's largest employee benefits consulting groups, The Winch Group.
By David Gambrill | August 4, 2022
A year after RSA Insurance Group plc was acquired by Intact Financial Corporation, nearly all personal lines broker policies, and commercial lines small business and fleet policies in Canada, have been converted to Intact systems, the insurer reported. “I’m pleased to see that the integration is very much on track in Canada. Policy conversion in […]
By Alyssa DiSabatino | July 29, 2022
3 min read
Heather Masterson is the new chairwoman of the Insurance Bureau of Canada (IBC) having been elected by the board of directors, the association announced Thursday. She brings a quarter century of industry experience, market and broker expertise, and executive leadership to the role, IBC said in a press release. “As the voice of Canada’s property […]
By Phil Porado | July 29, 2022
Canadians are becoming increasingly interested in getting an electric vehicle (EV) for their next purchase on one hand, but consumers also seem concerned about the cost of insuring electric vehicles, according to data from rate comparison site My Choice. Seventy-seven per cent of respondents in British Columbia and 74% in Ontario would consider buying an EV the next […]
By Alyssa DiSabatino | July 28, 2022
Global recession can change the way your clients do business, innovation that may lead to the next big insurance sales growth opportunities.
By David Gambrill | July 28, 2022
Last year was generally the most favourable for Canada’s insurers in a while – since 2006 as a matter of fact – with the industry’s return on equity (ROE) coming in at a solid 17.2% (against 11.2% in 2020). ROE for Canada’s P&C industry has surpassed 12% only twice between 2006 and 2019 (both in […]
By Phil Porado | July 28, 2022
Specialization is one way insurance brokerages in Canada can remain independent, but it might not work if the market hardens again.
By Phil Porado | July 27, 2022
Men and young people aged 18-34 are more likely than women and those aged 55+ to engage in road rage behaviours, finds a recent Ratesdotca survey. Although men and women claim to engage in road rage equally (51% respectively), men are more likely than women to engage obscene gesturing (17% versus 12%), rolling down the […]
By Alyssa DiSabatino | July 26, 2022
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