News

Three-quarters of brokers believe their organizations must address diversity to be a successful business. Yet, this number is waning — from 91% in 2022 to 84% in 2023, and to 75% in 2024, according to a recent Canadian Underwriter survey.…

As Canada looks ahead to what experts fear could be another devastating wildfire season, fire chiefs say they are worried about the dwindling number of volunteers available to combat the rising threat. Ken McMullen, president of the Canadian Association of…

Cloud-based services can serve as a much-needed speed accelerator to the Canadian P&C insurance industry, eliminating friction and digitizing the customer experience, speakers said Thursday at the 2024 CIP Society Symposium in downtown Toronto. “I personally think the biggest threat…

A decision in which a woman whose psychological trauma was triggered after she viewed the dashcam footage of an auto accident she was involved in — and spotted a house in the background where she’d lived and was the victim…

Gravity brought financial results for Canada’s property and casualty insurance industry back down to Earth in 2023, despite a rebound to pre-pandemic investment returns. “As we predicted last year at this time, the abnormally high industry returns for 2021 and…

BrokerLink has acquired two Ontario brokerages outright, as well as the personal and small-to-medium-enterprise commercial books of business from Halpenny Insurance Brokers Ltd.   BrokerLink fully acquired M. Edward Powell Insurance Brokers Ltd. in Oakville, Ont., and Russ Bastow Insurance…

Mandatory entry-level training (MELT) for new commercial truck drivers needs to be implemented across Canada, and trucking companies must follow this up with mentorship and onboarding programs, a new report commissioned by the Insurance Bureau of Canada recommends. Plus, safety…

NEW BRUNSWICK — St. Stephen is hoping a made-in-the-Maritimes rideshare app will help residents get around town – and possibly beyond. Future St. Stephen, the town’s economic development agency, has agreed to a six-month pilot project with Kari, a P.E.I.-based…

Technological breakthroughs in commercial lines are helping brokers win over Canadian business owners seeking insurance coverage. Brokers can do three things to stand out in this crowded, competitive market. They can standardize their data capture, simplify their quoting and submission…

The global voluntary carbon market (VCM) is expected to show “hockey stick growth” over the next few decades, representing a dramatic opportunity for the insurance industry. “Look at the cyber market now in insurance — it’s the new big thing,”…

Next-generation data, analytics and risk models are giving property risk assessment a much-needed facelift. The increased frequency and intensity of natural disasters, combined with population growth in NatCat-prone regions, is escalating property and casualty (P&C) insurers’ claims and losses. A…

An urgent need exists for more comprehensive training of new commercial truck drivers, says a new report commissioned by the Insurance Bureau of Canada. “Canada’s trucking sector is critical to the success of our economy, transporting over 90% of all…