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News InsuranceMarkets / Coverages

Legal pot sales could reach $1 billion in fourth quarter: Statistics Canada

September 21, 2018 The Canadian Press

OTTAWA – Statistics Canada forecasts Canadians could spend more than $1 billion on legal cannabis between October and December this year once marijuana for adult use is legalized on Oct. 17. The agency estimates that the amount spent on legal

News ClaimsMarkets / Coverages

Diesel fuel leaks into river after fatal train derailment

September 20, 2018 The Canadian Press

WINNIPEG – A train that derailed in northern Manitoba on Saturday that killed a railway worker is leaking diesel fuel into the Metishto River. Manitoba Sustainable Development says the fuel is from one of the locomotives. The province says spill

News InsuranceMarkets / CoveragesRisk

Federal government accelerates phase out of rupture-prone rail tankers

September 19, 2018 The Canadian Press

OTTAWA – The federal government is speeding up the timelines for the removal of rupture-prone tank cars from Canadian railroads. Ottawa has taken steps to phase out certain types of tank cars following the deadly train derailment and explosions in

News BrokersInsuranceMarkets / Coverages

Hub’s Top 3 trends for commercial brokers

September 16, 2018 by Jason Contant

There are indications the commercial insurance market in Canada is starting to see rate hardening, the president of Hub International Canada told Canadian Underwriter Friday. “It hasn’t all hit yet, so I want to be clear on that,” Tina Osen

News Markets / CoveragesMergers and Aqcuisitions

Commercial insurer Ironshore Canada rebranding

September 16, 2018 by Greg Meckbach

Commercial specialty insurer Ironshore Canada is being re-branded as Liberty Mutual Canada. In addition to Ironshore, Liberty International Underwriters Canada is also being rebranded as Liberty Mutual Canada, the insurer announced Thursday. But for the rest of 2018, “policies will

News InsuranceMarkets / CoveragesProducts

New bespoke commercial package covers 7 industry segments

September 13, 2018 by Jason Contant

Commercial insurance clients in multiple industry segments can now receive tailored core coverages under a single package solution. Core coverages include first and third party cyber, D&O liability, media management crisis costs, event cancellation and currency devaluation. Tailored for seven specific

News Markets / Coverages

Cannabis stores in this province face strict rules for displays and security

September 13, 2018 The Canadian Press

WINNIPEG – Store owners who will sell cannabis in Manitoba will face strict rules about how they display and secure the drug when its recreational use becomes legal next month. New rules set by the province will require that stores

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Why Quebec’s largest brokerage doubled up on life insurance

September 11, 2018 by Jason Contant

For its latest acquisition, Quebec’s largest brokerage decided to look outside its traditional stronghold of property and casualty insurance, which represents about 90% of its revenue base. On Aug. 8, Lussier Dale Parizeau announced the acquisition of Trinome Conseils. Patrice

News ClaimsInsuranceMarkets / Coverages

Vancouver’s short-term rental listings drop by half after new rules introduced

September 11, 2018 The Canadian Press

VANCOUVER – The City of Vancouver says the number of short-term rentals listed online has dropped by almost half since new rules came into effect requiring operators to have a business licence. There are 3,742 active Vancouver listings on sites

News InsuranceMarkets / CoveragesReinsurance

This reinsurer says rates need to go up

September 10, 2018 by Jason Contant

Underwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the

News InsuranceMarkets / CoveragesTechnology

Where Canada ranks worldwide in cyber breaches

September 7, 2018 by Jason Contant

The importance of obtaining cyber insurance has again hit home, following the release of a report that found by mid-2018, Canada was the country with the third most cyber incidents in the world and ninth most exposed records. Last month,

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How much buyers are willing to pay for online books of business

September 5, 2018 by Jason Contant

Buyers are pricing in potential future market disruption, such as online distribution, when buying a broker’s books of business, a P&C transaction advisor told Canadian Underwriter Wednesday. Mike Berris, partner and practice group leader with Vancouver-based Smythe Advisory said he