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Shop Canadian when selling marine, brokers advised

July 4, 2018 by Jason Contant

Brokers interested in selling marine insurance should target coverholders and managing general agents (MGAs) in Canada rather than going straight to the London market, a senior marine surveyor told Canadian Underwriter recently. “There are a lot of MGAs and coverholders

News InsuranceMarkets / Coverages

What have we learned from Lac-Megantic train derailment?

July 3, 2018 by Greg Meckbach

Nearly five years after a fatal accident in which a runaway freight train caught fire in Lac-Mégantic Quebec, the frequency of uncontrolled train movements is on the rise, the Transportation Safety Board of Canada warned Wednesday. “In 2017, there were

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Leading Canadian insurers ‘looking at M&A intensely’

July 3, 2018 by Greg Meckbach

Brokers can expect to see a major carrier consolidation deal this year, assuming the prediction of a major mergers and acquisitions (M&A) advisory firm holds true. Of the top 10 Canadian P&C insurers, “it could be expected that a few

News ClaimsInsuranceMarkets / Coverages

Violent storms leave thousands without power in Quebec

July 3, 2018 The Canadian Press

MONTREAL – More than 15,000 homes and businesses in Quebec were still without power and air conditioning this afternoon following violent storms. As of 2 p.m., 15,234 Hydro-Quebec customers were blacked out, mainly due to fallen trees and branches on

News InsuranceMarkets / Coverages

What Canadians think of their travel medical insurance

June 29, 2018 by Jason Contant

More than eight in 10 polled Canadians who have purchased travel medical insurance are “satisfied with the product and the value it provides” and 98% of those who made claims in the past year were fully or partially paid, a

News InsuranceMarkets / Coverages

Why homeowners are happy with their insurers despite rate increases

June 29, 2018 by Jason Contant

Despite rising premiums, homeowners’ satisfaction with their insurance providers has increased for the third consecutive year, according to the J.D. Power 2018 Canada Home Insurance Study. The survey, released on Thursday, rated overall satisfaction at 786 on 1,000-point scale. Homeowners

News Markets / Coverages

New Brunswick says delay of legal cannabis sales costly for province

June 29, 2018 The Canadian Press

FREDERICTON – New Brunswick says it will be ready for cannabis sales when they become legal in October – but the delay from the original July startup will cost the province millions of dollars in revenue. Finance Minister Cathy Rogers

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

BFL Canada receives capital injection from Quebec pension fund manager

June 28, 2018 by David Gambrill

La Caisse de dépôt et placement du Québec (CDPQ), a Quebec pension fund manager, has acquired a 20 per cent minority interest in BFL Canada, one of the largest commercial insurance brokers in Canada. The investment will help BFL Canada,

News BrokersInsuranceMarkets / Coverages

Why brokers need to stay in front of students who move away from home

June 28, 2018 by David Gambrill

Students who leave home for school represent a big opportunity for brokers to provide value-added advice on a variety of insurance coverage changes, but the key is for brokers is to get in front of the students before they make

News InsuranceLegislation / RegulationMarkets / Coverages

Economical makes history by submitting demutualization proposal to Ottawa

June 27, 2018 by Greg Meckbach

Economical Insurance has made history as the first property and casualty insurer in Canada to officially ask the federal government for permission to demutualize. The Waterloo, Ont.-based carrier announced Tuesday it has submitted a proposal to the country’s financial regulator

News Markets / Coverages

Marijuana legalization to offer pot by mail, access to banks

June 26, 2018 Gene Johnson - THE ASSOCIATED PRESS

Mail-order weed? You betcha! With nationwide marijuana legalization in Canada on the horizon, the industry is shaping up differently there than the way it was established in nine U.S. states that have similarly broad legalization. Age limits, government involvement in

News CatastrophesClaimsInsuranceMarkets / Coverages

Fort McMurray airport sues insurer for $34 million in wildfire losses

June 25, 2018 by Jason Contant

The Fort McMurray Airport Authority (FMAA) is suing FM Global for more than $34 million, contending that the insurer breached its obligations under a policy in place during the Fort McMurray wildfire in May 2016. In a statement of claim