The public policy division of Travelers is recommending that a “clear risk transfer mechanism” be in place to adapt auto insurance for autonomous vehicles. “While there has not been widespread attention paid to how liability and compensation will be addressed as…
As the U.S. Commerce Department contemplates imposing a 25 per cent tariff on all vehicles imported into the United States, including vehicles from Canada, risk managers are starting to contemplate where all of this heightened rhetoric around protectionism may take…
When it comes to auto insurance premiums in Canada, drivers in British Columbia pay the most, followed by Ontario, data supplied by Insurance Bureau of Canada (IBC) revealed Wednesday. In B.C. last year, average annual auto premiums were $1,680. The…
A plumbing contractor facing a subrogation lawsuit from a homeowner’s insurer is not eligible for coverage under the homeowner’s purchased Residential Builders–All Risks [RBAR] insurance policy, an Ontario court has ruled. Joseph and Lidia Maio had their dream home built…
The Co-operators and insurtech Slice Labs announced Wednesday a partnership to allow the insurer to launch a new digital insurance brand in Canada. The first product – underwritten by The Co-operators – will be a pay-per-use homeshare offering under the brand…
A recent data breach at an Ontario college highlights the importance of educating clients on cybersecurity, even if no financial information was exposed. “Even having your name, address and date of birth stolen can still cause problems,” Don Duncan, security…
Commercial brokers looking to place insurance for cannabis providers should be paying close attention to the information their clients keep on medical marijuana patients. Cannabis regulations announced last week will supersede the Access to Cannabis for Medical Purposes Regulations once…
While kidnap and ransom (K&R) insurance is one type of insurance nobody wants to have to use, there are a few things that should be kept top of mind for brokers placing the coverage. The most important consideration revolves around…
Amid a wave of sump pumps, backwater valves and other methods designed to keep home basements dry comes a new, simple way to mitigate flood risk – an e-sensor. George Tsintzouras, CEO and co-founder of Canadian water tech company Alert…
TORONTO – Kingsway Financial Services Inc. has signed a deal to sell its non-standard auto insurance business to Premier Holdings, LLC. Chief executive Larry Swets Jr. says the sale will help the company focus on its extended warranty business. Under…
OTTAWA – The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions. The rate hike was the central bank’s…
In general liability lines, where pricing and competition are still healthy, brokers are more likely to notice windows of opportunity that are now starting to close – particularly in the hot tar and hospitality lines. “Competition is out there, capacity…