Topic
Commercial Lines
Hub’s latest Ontario brokerage acquisition
February 12, 2024 by Jason ContantHub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater…
Regulator calls out Trans Mountain for ‘environmental non-compliance’ in B.C.
February 12, 2024 The Canadian PressCALGARY – The company building the Trans Mountain pipeline expansion has been cited for environmental non-compliance related to its management of recent flooding in B.C. The Canada Energy Regulator said Thursday its inspection officers found issues near Abbotsford, B.C., where…
Brokerage looking to expand outside home province
February 9, 2024 by Jason ContantBritish Columbia-based brokerage AMC Insurance Services Ltd. is looking to expand outside its home province, the brokerage’s vice president told Canadian Underwriter recently. “We realized in our core business strategy that if we want to continue to be a provider…
What needs to happen for a smooth 2025 reinsurance renewal season
February 7, 2024 by Alyssa DiSabatinoMomentum from this year’s favourable reinsurance renewal can continue into 2025 if outlying conditions and losses don’t exceed expectations, panellists said during Cat IQ Connect in Toronto. Although it’s too early to make assertions about how the next 1.1 renewal…
KPMG buys insurance claims practice
February 2, 2024 by Jason ContantProfessional services firm KPMG in Canada has purchased an insurance claims practice that offers income replacement benefit and related calculations, as well as commercial loss claims calculations for insurance companies and their customers. The acquisition of the claims practice of…
Global Affairs Canada investigating ‘malicious’ cyberattack and data breach
January 31, 2024 by Jason ContantOTTAWA – Global Affairs Canada announced Tuesday it is investigating a cyberattack and data breach that has forced it to limit remote access to its networks. The department said in a statement, which confirmed earlier media reports, that early results…
How cyber pricing is trending for large Canadian companies
January 25, 2024 by Jason ContantLarge corporate cyber clients in Canada saw pricing decreases last year and one cyber underwriter expects the market for those risks will flatten out in 2024. “In 2023, we did see some fairly significant softening in the market; prices were…
Toronto Public Library gradually recovering from hack, more services back next month
January 19, 2024 Maan Alhmidi - The Canadian PressTORONTO – Canada’s largest public library system is gradually restoring more of its services after an October cyberattack brought down its website and likely exposed sensitive employee information. The Toronto Public Library said customers will be able to see a…
Toronto Zoo says staff personal info stolen in ransomware cyberattack
January 18, 2024 The Canadian PressTORONTO – The Toronto Zoo says it believes personal information of its current, former and retired employees was stolen in a ransomware cyberattack first detected earlier this month. The zoo says the information includes past earnings information, social insurance numbers,…
Your Canadian clients’ top business risks in 2024
January 17, 2024 by Alyssa DiSabatinoCanada’s top three business risks show companies are widely, and primarily, worried about disruption to their operations, according to the Allianz Risk Barometer 2024. Over half (57%) of respondents in Canada said business interruption was their number one risk,…
Quantum computing: How could it be regulated?
January 16, 2024 by Jason ContantCanadian financial services regulators have the emerging technology of quantum computing on their radar, but questions remain around its potential regulation. “Regulating quantum computing, especially in the context of the insurance industry, is complex due to the technology’s novelty and…
Tremors from Red Sea conflict start to shake Canada, with dozens of ships delayed
January 15, 2024 The Canadian PressMONTREAL – Canadian shippers are starting to feel the strain of attacks on cargo vessels in the Red Sea, as container rates rise and boats are late to arrive. Port data shows that two-thirds of the 43 ships slated to…