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Markets / Coverages
Ridesharing company expresses interest in Manitoba following time band controversy
January 23, 2018 by Jason ContantManitoba’s Public Utilities Board (PUB) has not received any appeals to its order relating to a unique “time band” approach to insuring ridesharing in Winnipeg, a PUB spokesperson told Canadian Underwriter on Monday. “My guess is that the applicant [Manitoba…
Independent brokerage grows in Western Canada
January 23, 2018 by Jason ContantRegina-based brokerage Harvard Western Insurance has acquired Saskatchewan brokerage Hoff Insurance, effective immediately. Harvard Western president and CEO Dave Pettigrew told Canadian Underwriter Tuesday that Hoff Insurance approached his firm because they wanted to be part of a larger brokerage.…
Educating the Public About Distracted Driving: Dos and Don’ts
January 23, 2018 by David GambrillPublic education strategies must supplement tougher laws if insurers wish to curb the number of claims arising from distracted driving, says the Traffic Injury Research Foundation (TIRF). Despite increasing fines and penalties for distracted driving, nearly one in four fatal…
AIG re-enters Lloyd’s business with $5.56-billion deal
January 23, 2018 by Greg MeckbachLess than two years after Canada Pension Plan Investment Board bought Lloyd’s underwriter Ascot Underwriting from American International Group Inc. (AIG), AIG plans to get back into the Lloyd’s business again. AIG announced Monday a US$5.56-billion agreement to acquire Validus…
Nova Scotia court dismisses auto liability case — after an 18-year delay
January 22, 2018 by David GambrillWould you be prepared to wait almost two decades to defend your insured policyholder in an uncomplicated auto liability case? One insurer stuck it out for 18 years until finally, on Jan. 19, 2018, the Supreme Court of Nova Scotia…
A bachelor’s guide to the right M&A fit
January 22, 2018 by David GambrillAlthough brokers contemplating a merger and acquisition may be focused on the financial mechanics of the deal, they should remain mindful about the cultural fit between the merged brokerages, as well as the right strategic fit between the merged entity…
Government insurer sees drunk driving offences plunge
January 22, 2018 by Jason ContantDecember 2017 saw the lowest number of impaired driving offences reported that month in the four years since Saskatchewan Government Insurance (SGI) began doing its monthly traffic safety spotlights, even with increased enforcement. “Overall, we think attitudes are changing in…
Taking a granular look at how drainage routes affect stormwater flooding
January 22, 2018 by Jason ContantEngineered construction like a drainage route can directly affect whether or not a specific building or home is in harm’s way for stormwater flooding, the Institute for Catastrophe Loss Reduction’s (ICLR) director of research told Canadian Underwriter on Monday. Dan…
Risk management still a concern post-Lac Mégantic
January 22, 2018 by Greg MeckbachRisk management continues to be an issue for major Canadian railways, the Transportation Safety Board of Canada (TSB) said Wednesday in an investigation report into a freight train collision in Alberta. The report came just days before a jury acquitted…
Ontario technology hubs key for GM Canada’s plans for driverless cars
January 22, 2018 David Paddon - THE CANADIAN PRESSMARKHAM, Ont. – General Motors of Canada sees Ontario’s strength in advanced technologies as strategically important for its plans for creating safe, driverless vehicles in the near future, its CEO said Friday at the launch of a new software centre…
Change course on coverage? Be clear that’s it’s not a settlement.
January 19, 2018 by David GambrillIf an insurer changes course midway through a claim — offering coverage, for example, when that coverage was previously denied — it will need to clarify that its change of position does not constitute an offer to settle before taking…
Two reasons why Ontario approved increased auto rates
January 19, 2018 by Jason ContantIncreased vehicle technology and elevated auto loss ratios are among the factors contributing to rate increases in Ontario auto, Joel Baker, president and CEO of MSA Research, told Canadian Underwriter on Thursday. “The industry is being challenged by elevated auto…