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News InsuranceMarkets / Coverages

Quebec’s cannabis agency cuts back expansion plans amid shortages

January 24, 2019 Julien Arsenault - THE CANADIAN PRESS

MONTREAL – Quebec’s cannabis agency generated about $40 million of sales in its first three months of operation, but supply shortages are forcing the public retailer to reduce its expansion plans. The province expects to have 40 points of sale

News InsuranceMarkets / Coverages

Why the industry needs to focus on “accidental” disruptors

January 22, 2019 by Jason Contant

The insurance industry is used to looking for “intentional” disruptors, but it really needs to focus on “accidental” disruptors, says a P&C insurance consultant. “We all can see the real disruptors out there, the ones that are finding the ways

News InsuranceMarkets / Coverages

How many municipalities will want to host cannabis stores?

January 22, 2019 Allison Jones - THE CANADIAN PRESS

TORONTO – More than half of Ontario’s eligible municipalities have opted in as willing hosts to cannabis stores as the first locations are set to open in a little over two months. Municipalities have until 11:59 p.m. Tuesday to tell

News InsuranceMarkets / CoveragesReinsurance

Hard market? Not so fast.

January 16, 2019 by Jason Contant

The Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning

News Earnings / RatingsInsuranceMarkets / Coverages

All provinces saw rate increases in Q4 2018: Applied

January 10, 2019 by Jason Contant

Evidence of a hard market in personal lines in Canada was apparent in Applied Systems’ latest quarterly Applied Rating Index, released Tuesday. The Q4 2018 index found that average premiums for personal auto and personal property lines increased by more

News InsuranceMarkets / Coverages

Beginner’s guide to insuring pot

January 9, 2019 by Jason Contant

After nearly three months of recreational marijuana being legal in Canada, insurers are still trying to wrap their heads around a sector with no track record and lots of uncertainty. For specialist insurer CFC Underwriting, there is still some caution

News InsuranceMarkets / Coverages

Why Canadian insurers are reticent to enter the cannabis space

January 8, 2019 by Jason Contant

With signs of a hard insurance market in Canada, it appears that a lot of insurers are still reticent about entering the cannabis space. “When an insurance cycle goes a little bit harder, when insurers are trying to put their

News InsuranceMarkets / Coverages

What small business owners think of private auto insurance in B.C.

December 11, 2018 by Jason Contant

As debate rages on in British Columbia over public versus private ridesharing insurance options, the Canadian Federation of Independent Business (CFIB) has released new survey results that show nearly three of four small business owners support private auto insurance. CFIB

News BrokersInsuranceMarkets / CoveragesMGAs

Why some brokers may shy away from using an MGA

November 28, 2018 by Jason Contant

The risk of a greater errors and omissions (E&O) exposure is a major reason why some brokers choose not to place business with a managing general agent (MGA), speakers said Tuesday at Insurance-Canada.ca’s MGA Technology Symposium in Toronto. “We don’t

News InsuranceMarkets / CoveragesTechnology

Why brokers need to talk about ransomware

November 28, 2018 by Jason Contant

Ransomware attacks are increasing, and as a result, there will likely be a shift in brokers and clients alike starting to recognize the value of the business interruption component of a cyber insurance policy, a specialist insurer said Monday. “Cybercrime

News InsuranceMarkets / CoveragesTechnology

The secret to appealing to younger Canadian insurance buyers

November 22, 2018 by Jason Contant

Thinking of abandoning your brick-and-mortar stores to appeal to the tech-savvy younger generations who love to buy everything online? Don’t just yet, suggests new research from broker management system provider Applied Systems and business intelligence research firm ORC International. Instead,

News InsuranceMarkets / CoveragesTechnology

Political battle over public v. private ride-sharing insurance in B.C.

November 21, 2018 by Jason Contant

The Insurance Corporation of British Columbia (ICBC) is prepared to offer a blanket, usage-based insurance product, likely by next fall, if proposed legislation on ride-hailing passes before Christmas, as anticipated by the Premier, according to published reports. However, the leader