News

Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed…

What will the P&C insurance industry do when quantum computers “think,” and behave, more like humans? It’s not as far off as you think. Today, quantum computing is the preserve of national intelligence agencies and the world’s largest technology companies, such…

Canada’s property and casualty insurers rang in 2024 by paying out $180 million to repair damage caused by Western Canada’s deep freeze in mid-January. Insurance Bureau of Canada (IBC) released the figure Monday, which is based on industry claims totals…

The heart of British Columbia’s wine industry is reeling after suffering a litany of climate-related hits, resulting in two years of crop losses in the southern Interior. Record-breaking heat. Wildfires and smoke that repeatedly contaminated grapes. A destructive cold snap…

With accident claims up sharply post-pandemic, transportation network companies (TNCs) like Uber, Lyft and others are aggressively managing the insurance coverage they offer to gig drivers to ensure they have a handle on fraud. “You’re going to get some claims…

There’s a 37% chance your clients are making changes to their driving routines, and that means they may need to update their auto coverage, according to a recent survey by RatesDotCa.   Canadians who are planning to make changes to…

Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines.  The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up…

BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides…

Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm.  Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,…

An RCMP investigation has revealed a possible privacy breach for thousands of employees who worked or work at a health authority in British Columbia’s Interior. Interior Health says police contacted them in January about finding a document during its investigation…

Jesica Ryzynski, Claims Specialist, Mitch Insurance Voted most likely to chain herself to a fence outside Queen’s Park in high school, Mitch Insurance Claims Specialist Jesica Ryzynski says, “It makes complete sense that I now work in the P&C industry.”…

Shannon Millar, Vice President, Strategy, People and Culture, Gallagher “I don’t tend to just stick to my swim lane,” says Shannon Millar, vice president of strategy, people and culture at Gallagher. Millar, a Certified Human Resources Leader (CHRL), likes to…