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News Insurance

How buyouts of flood-prone properties are going in this community

July 8, 2019 Amy Smart - THE CANADIAN PRESS

More than one year after rescuers swam from home to home in a low-income neighbourhood devastated by flooding in Grand Forks, B.C., some residents say they were rattled to learn the property buyouts they’ve been waiting for will be based

insPRESS Insurance

Sedgwick to acquire York Risk Services Group

July 8, 2019 by Sedgwick

MEMPHIS, Tenn., July 8, 2019 /insPRESS/ – Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, has signed an agreement to acquire York Risk Services Group. Following the close of the transaction, the Sedgwick family will comprise

News Insurance

How M&A deals have re-arranged the pecking order of brokerages

July 5, 2019 by Greg Meckbach

Hub International Ltd. has reached fifth place worldwide on A.M. Best Company Inc.‘s ranking of brokerages. Hub was formed in 1998 through the merger of 11 Canadian brokerages and has since moved its head office to Chicago. It acquired 13

News BrokersInsuranceMarkets / Coverages

Fishing for marine capacity after Lloyd’s partial withdrawal

July 5, 2019 by Jason Contant

Marine insurance, one of the “hot lines” in Canadian Underwriter’s forthcoming 2019 Stats Guide, is already falling on some leaner times. “Yes, absolutely,” replied Kent Rowe, vice president of Wedgwood Insurance Limited in St. John’s, Nfld., when asked if he

News InsuranceReinsurance

Why Swiss Re says insurance profitability will remain ‘under pressure’

July 5, 2019 by Greg Meckbach

Expect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”

News BrokersInsurance

Sports heroes: one way to score big with your marketing

July 5, 2019 by Adam Malik

When it comes to marketing, brokerages and carriers like pairing up with pro sports teams and athletes. For Waterloo, Ont.’s Aha Insurance, which launched in 2017, partnering with a professional sports team seemed like a perfect way to create brand

News Insurance

Man dies after car wash accident

July 5, 2019 THE CANADIAN PRESS

CALGARY – The owner of a Calgary gas station is dead after emergency authorities say it appears he was accidentally run over by a vehicle in the station’s car wash. The 64-year-old man was pronounced dead at a Centex outlet

News Insurance

How A.I. is changing the landscape of Canadian pre-fill data

July 4, 2019 by Jason Contant

Artificial intelligence and machine learning are changing the landscape for pre-fill data in Canada — literally. “Through artificial intelligence and deep learning techniques… we’re able to train computers to recognize that this is a two-storey structure, not a one-storey structure

News InsuranceLegal

Could trial lawyers take a run at a 40-year-old cap on pain and suffering awards?

July 4, 2019 by Greg Meckbach

A 40-year-old, Canada-wide cap on pain and suffering awards could be out of date, a personal injury lawyer suggests. The Supreme Court of Canada imposed a $100,000 cap on awards for non-pecuniary damages in 1978, as the personal injury law

News BrokersInsuranceMergers and Aqcuisitions

Hub scoops up two Alberta firms in latest acquisition

July 4, 2019 by Jason Contant

Hub International continued its M&A spree this week with the acquisition of two Edmonton-based firms – one a brokerage and the other a benefit and retirement consulting firm. The Chicago-based global brokerage Tuesday acquired BenefitLink Resource Group Edmonton Holdings Inc.

News Insurance

Wildfire forces entire First Nation community to evacuate

July 4, 2019 Colin Perkel - THE CANADIAN PRESS

A raging forest fire in northwestern Ontario has prompted the full evacuation of the First Nation community of Keewaywin, authorities said on Thursday. More than 200 residents considered vulnerable had already been flown this week to Sioux Lookout, Ont., as

insPRESS Insurance

ClaimsPro Enhances Business Development Leadership Team in Western Canada

July 4, 2019 by SCM Insurance Services

VANCOUVER, BC, July 4, 2019/insPRESS/ – ClaimsPro, Canada’s independent adjusting and claims management leader, is pleased to announce two recent appointments to further develop and enhance its presence in Western Canada. Brad Moore and Gary Grondahl are ClaimsPro’s new Directors