Topic
Brokers
Behind the scenes of Hub’s latest Canadian acquisition
November 6, 2023 by Jason ContantIn a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio Insurance is an independent brokerage offering personal and commercial insurance to…
How to tame increasingly ferocious NatCats
November 6, 2023 David GambrillEscalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims…
Is personal cyber the new fire?
November 6, 2023 by Alyssa DiSabatinoClients are seven times more likely to fall victim to a cybercrime than a house fire. But while most homeowners realize the need to have a fire extinguisher on hand, or to cover their risks with home insurance, many…
Industry responds to Alberta rate cap extension
November 3, 2023 by Alyssa DiSabatinoAlberta’s promise to cap auto insurance rate increases for “good drivers” in the province will not help consumers achieve affordability and only put further financial strain on auto insurers, property and casualty insurance industry experts warn. Ultimately, it could lead…
Alberta UCP announces return of the auto rate cap
November 2, 2023 by Alyssa DiSabatinoAlberta’s United Conservative Party (UCP) is committed to retaining auto rate caps for “good drivers” into 2024, which auto insurers say would amount to keeping the auto rate cap on 80% of the province’s drivers. The province’s proposed auto…
IBAO Provides Consumer Data for Brokers
November 2, 2023 The Insurance Brokers Association of Ontario (IBAO)IBAO is taking steps to become the go-to place for market intelligence data for brokers. TORONTO, ON, NOVEMBER 2, 2023/insPRESS/ – The Insurance Brokers Association of Ontario (IBAO) has published a new data project as part of an effort to…
McFarlan Rowlands acquires two brokerages
November 1, 2023 by Alyssa DiSabatinoMcFarlan Rowlands Insurance Brokers Inc. today announced the acquisition of McConville Omni Insurance Brokers Ltd. and T.G. Colley & Sons Ltd. These acquisitions enable McFarlan Rowlands to expand in the southwestern Ontario region, the brokerage said in a release. …
Coastal storms: Could U.S. scenario happen here?
November 1, 2023 Philip PoradoIncreasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values…
Brokerage reprimanded for handling of privacy breach
October 31, 2023 by David GambrillB.C.’s broker regulator has reprimanded an unnamed brokerage and ordered its nominee to take courses on how to handle a privacy breach, after a stash of client documents was recovered by a third party and returned to the insurance company.…
What’s driving rising ransomware attacks
October 30, 2023 Philip PoradoRansomware attacks are increasing globally thanks to evolving cybercrime tactics that make it easier for thieves to transfer data from computers or other devices. “Cyber claims frequency has picked up again this year as ransomware groups continue to evolve their…
How Quebec’s language law may affect outside insurance providers
October 30, 2023 by Jason ContantQuebec’s recently enacted language law is creating concerns that smaller insurance providers may consider pulling out of the province. Bill 96 (Law 14), An Act respecting French, the official and common language of Québec, came into effect June 1. Under…
Why McFarlan Rowlands decided to sell
October 27, 2023 by Alyssa DiSabatinoA desire for scale, coupled with a rapid succession of shareholder retirements, compelled McFarlan Rowlands to sell to a subsidiary of Definity earlier this year, a senior exec told the Insurance Brokers’ Association of Ontario’s annual convention in Toronto. …