Topic
Commercial Lines
What high interest rates mean for P&C investments
November 30, 2023 by Alyssa DiSabatinoThe Bank of Canada announced it would raise interest rates to 5% in October to help control inflation, but the P&C industry warns those high interest rates can wreak havoc on insurers’ investment portfolios. It’s not all doom and gloom,…
Government impersonation, phishing are top financial scams, Interac survey finds
November 30, 2023 Ritika Dubey - THE CANADIAN PRESSTORONTO – Government impersonation is one of the most common financial scams plaguing people across Canada, a new survey from payment processing company Interac Corp. has found. The report, released Tuesday, said 42 per cent of survey respondents reported dealing…
How Canada’s wildfire season will shape reinsurance renewals
November 28, 2023 by Alyssa DiSabatinoReinsurers have their ears to the ground on climate change losses, and Canada’s record wildfire season is adding to the heat, according to industry experts. But while reinsurers are keeping a close watch on wildfire risk, tallied wildfire losses…
Electric truck/bus maker cuts jobs
November 27, 2023 THE CANADIAN PRESSMONTREAL – The Lion Electric Co. says it is cutting 150 jobs or about 10% of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder…
What worries Canadian businesses about Quebec’s language law
November 22, 2023 by Jason ContantQuebec’s recently enacted French-language law is causing some Canadian businesses concerns about compliance and even fear of losing employees, a new business risk report from Beazley suggested. Bill 96, An Act respecting French, the official and common language of Québec,…
What carriers can expect for reinsurance renewals
November 22, 2023 by Alyssa DiSabatinoPrimary insurance carriers can expect for the most part flat to high single-digit premium increases during Jan. 1, 2024, reinsurance renewals, Matt Wolfe, Aon Canada’s president and CEO of Reinsurance Solutions tells Canadian Underwriter. It’s a far cry from the…
How the M&A environment will affect carriers’ business models
November 17, 2023 by Jason ContantCanadian P&C insurance industry carriers and service providers will need to transform their business models to help control claims and operating costs in an M&A environment featuring competing demands for capital, speakers said Thursday at KPMG’s 2023 Insurance Conference in…
The Top 10 stolen cars in Canada
November 14, 2023 by Alyssa DiSabatinoFor the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association. The auto insurance fraud prevention organization today announced its Top 10 Most Stolen Vehicles in Canada, which now includes…
Why this insurer doesn’t have to defend an injured bar patron’s lawsuit
November 13, 2023 by Alyssa DiSabatinoAn Ontario insurer is not required to defend a Woodstock, Ont., sports bar against a “mixed” claim from a patron who said he sustained injuries after he was over-served and then forcibly removed from the bar, the Ontario Superior Court…
BrokerLink completes triple acquisition
November 13, 2023 by Jason ContantBrokerLink has expanded its well-established footprint in the Greater Toronto Area with the acquisition of brokerages All-Risks Insurance (Burlington), Dowhaniuk Insurance and Heinsoo Insurance. BrokerLink announced Monday it completed the asset acquisition of Solutions Financial PCC Inc., operating as All-Risks…
Is it time for a new approach to systemic cyber?
November 10, 2023 by Jason ContantSystemic cyber risk needs to be tackled with more capacity and ways of dealing with the attritional cyber market, Marc Lipman, president and attorney-in-fact at Lloyd’s Canada, suggested during an industry event last month. “Just like there developed a traditional,…
What’s new about Westland’s latest deals
November 10, 2023 by Alyssa DiSabatinoWestland Insurance announced its partnership with employee benefits and retirement solutions provider Prime Benefits Group Inc. Westland said the deal is part of its strategy to enhance its group benefits portfolio and strengthen its position in the Canadian market. Based…