Private equity deal volume is expected to rebound in 2024 after slowing last year, and that means your PE clients can expect to see their insurance rates — particularly for liability and indemnity (D&O and R&W) — decrease or flatten…
Clients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report. Of particular concern is inadequate responses by company directors and officers to…
Language models like ChatGPT could be used by bad actors to re-write software code and better prepare phishing emails, a cyber specialist warned recently. The state-of-the-art language generation model is capable of understanding and generating human-like text based on a…
With natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements. Intact subsidiary On Side Restoration has acquired Superior Disaster Services Ltd., in a deal that closed Dec.…
Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence. In this inflationary environment, keeping up with valuations and ensuring commercial property brokers…
Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week. Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.…
With so many NatCats affecting the real estate property insurance sector, catastrophe (Cat) modelling is becoming a fixture for clients seeking coverage in a tightening market, a Hub International report states. “Catastrophe (CAT) modeling is…becoming essential in real estate resiliency,”…
HALIFAX – Nova Scotia’s information and privacy commissioner has launched an investigation into the theft of personal information from a file-transfer system used by the provincial government. In June, the government confirmed a cybersecurity breach involving a third-party system known…
A recent court ruling in Australia concerning the primary purpose of a forensics report following a cyberattack serves as a crucial reminder about legal privilege for Canada’s cyber insurance market. In a Nov. 10 decision, the Federal Court of Australia…
Persistent labour shortages, forecasted lower levels of travel, elevated inflation and rising property insurance rates will threaten the hospitality industry’s profitability in 2024, Hub International predicts in its 2024 Outlook series. Yet, with prolonged periods of government mandated shutdowns, low…