Topic
Insurance
Westland Insurance Group acquires First West Insurance Services
August 23, 2019 Westland Insurance GroupSurrey, BC, August 23, 2019/InsPress/ – Westland Insurance Group Ltd. is pleased to announce the acquisition of First West Insurance Services, a subsidiary of First West Credit Union, effective Sept. 30, 2019. BMO Capital Markets acted as financial advisor to…
Western Canadian brokerage announces changes to executive leadership
August 22, 2019 by Jason ContantOne of Canada’s largest independent property and casualty insurance brokerages has announced changes to its executive leadership, effective Sept. 1. Jamie Lyons has been appointed to the role of president and chief operating officer for Westland Insurance Group Ltd., the…
Insurers spar after passenger grabs steering wheel, causing accident
August 22, 2019 by Greg MeckbachShould a motorist be liable if a front-seat passenger deliberately grabbed the wheel and took control, causing an accident? Insurers debate this, but judges say a client in this situation should not be liable. In McKay v. Park, released Monday,…
New president, chief operating officer for Lussier Dale Parizeau
August 22, 2019 by Jason ContantQuebec brokerage Lussier Dale Parizeau (LDP) has announced the appointment of Michel Laurin as president and chief operating officer, effective Sept. 9. Laurin has held executive positions and worked with major companies in the insurance and financial services sectors for…
New policies set for ride-hailing services in B.C.
August 22, 2019 The Canadian PressVICTORIA – New policies for ride-hailing services in British Columbia will allow companies such as Uber and Lyft to operate a limitless number of vehicles beyond geographical boundaries that are in place for the taxi industry. Chair Catherine Read of…
Three reasons why healthcare is often the target of cyberattacks
August 21, 2019 by Jason ContantIf your client works in the healthcare industry in Canada, they likely know they are an attractive target for cybercriminals. But new research from global cybersecurity company Kaspersky sheds light on some of the reasons why. The study of more…
These auto clients will no longer get a break for driving experience
August 21, 2019 by Greg MeckbachFor motorists whose driving experience is in a country other than Canada and the United States, one major insurer’s underwriting rules are about to change in one province. Nova Scotia’s auto insurance regulator recently gave The Personal Insurance Company permission…
One reason why there’s little relief in sight for auto rates
August 21, 2019 by Adam MalikVehicle technology is designed to reduce crashes – or at least, the severity – but insurance brokers shouldn’t expect to be able to offer their clients any relief when it comes to their premiums. That’s because all the technology going…
How brokerage commissions are trending in today’s market
August 21, 2019 by Jason ContantWhat are the trends in brokerage commissions in the Canadian P&C insurance space? Brokerage compensation arrangements have definitely tightened, with average producer compensation closer to 33% to 35%, plus benefits, a P&C transaction advisor told Canadian Underwriter Tuesday. “This might…
Why Alberta-based brokerage is expanding in Ontario
August 20, 2019 by Greg MeckbachThe reaction by insurers to the 5% rate cap on Alberta auto insurance is one reason Surex.com Ltd. is aggressively expanding in Ontario. “We have doubled down on Ontario because of the market out west,” said Matt Alston, co-founder and…
Intact’s other deal: ‘You can bet that other insurers are paying close attention’
August 20, 2019 by Adam MalikIntact Financial Corp. agreeing to buy On Side Restoration will likely lead to similar deals going forward and while risks exist, one adjuster believes it will probably bring more good than bad to the insurance industry – with a lot…
What this season’s crop claims look like so far
August 20, 2019 THE CANADIAN PRESSThe Canadian Crop Hail Association says more than 10,000 damage claims have been received by its member companies so far this season. The association says in a release that at the mid-point of the year, Saskatchewan farmers filed 6,900 claims…