Topic
Commercial Lines
How Northbridge beat the taxman
October 26, 2023 by David GambrillNorthbridge is allowed to claim GST input tax credits for insurance policies it issued to trucking companies operating in both Canada and the United States, the Federal Court of Appeal has ruled. The decision overturned a Tax Court of Canada…
Is it time for a new reinsurer to enter the market?
October 25, 2023 by Jason ContantCanada’s hard market in reinsurance has some execs wondering if the time is ripe for a new reinsurer to enter the Canadian market. Until Jan. 1, 2023 renewal season, Aon Reinsurance Solutions president and CEO Matt Wolfe said he never…
The most common cyber claims in Canada
October 23, 2023 by Alyssa DiSabatinoRansomware continues to be one of the top cyber threats to Canadian businesses, even though wire transfer fraud incidents are more expensive on average, according to a recent industry study. The average ransomware incident costs companies $596,000 USD, accounting for…
Brokers’ Number 1 obstacle when selling cyber
October 18, 2023 by Jason ContantFor brokers, the biggest obstacle in selling cyber insurance to clients might not be what you think. Traditional roadblocks to a sale include price, board approval, and executive complacency. But here’s an unlikely naysayer that’s making the rounds of brokerage…
Which commercial line needs more capital?
October 16, 2023 by Jason ContantEven though the cyber insurance market is in a much better place now than a few years ago, it still needs an injection of capital to keep up with burgeoning demand, a speaker said during an industry event earlier this…
The driving factor behind Navacord’s mergers
October 13, 2023 by Alyssa DiSabatinoFresh from completing three mergers this month, Navacord president and CEO Shawn DeSantis tells Canadian Underwriter the company is working to expand its geographic presence and build national scale. In British Columbia, Navacord announced its latest deal with Harbord Insurance…
How the industry is using GenAI
October 13, 2023 by Jason ContantCanadian insurance industry players are using generative AI (GenAI) not just to simplify tasks like ‘traditional’ artificial intelligence, but for a variety of applications ranging from marketing and fraud detection, to legal documents, speakers said during a recent industry event.…
BrokerLink completes largest Alberta acquisition to date
October 12, 2023 by Jason ContantBrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s…
How this ratings agency views the Canadian MGA market
October 10, 2023 by Jason ContantRatings agency AM Best will likely maintain its positive outlook on the global delegated underwriting authority enterprises (DUAE) market, an executive said Friday during AM Best’s Canada Insurance Market Briefing in Toronto. “On Dec. 5, 2022, we did assign a…
Why RIBO is updating its entry level broker exam
October 6, 2023 by Alyssa DiSabatinoRegistered Insurance Brokers of Ontario (RIBO) is enhancing the standards for becoming a licensed insurance broker in Ontario by making changes to its entry-level exam. The move is part of the regulator’s ongoing efforts to ensure new brokers better understand…
How to mobilize claims repairs in a flood-prone city
October 5, 2023 by Alyssa DiSabatinoHow do you mobilize a claims response when capacity and labour shortage issues are extending property restoration timelines in disaster-prone regions? Bring your recovery team closer to the repairs. At least, that’s the strategy First Onsite is taking. The restoration…
Behind this specialty insurer’s hybrid underwriting model
October 4, 2023 by Jason ContantSpecialty insurer Mosaic Insurance’s expansion across Canada in five specialty lines provides a unique hybrid underwriting model that allows the company to take a Lloyd’s syndicated approach locally in Canada, executives told Canadian Underwriter. Mosaic announced its expansion last month…