Topic
Markets / Coverages
Why most of your commercial clients are underinsured by at least 30%
December 12, 2023 by Jason ContantAccurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence. In this inflationary environment, keeping up with valuations and ensuring commercial property brokers…
Private equity firm acquires digital brokerage
December 8, 2023 by Jason ContantPrivate equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.…
How Cat modelling can help your real estate clients
December 8, 2023 by David GambrillWith so many NatCats affecting the real estate property insurance sector, catastrophe (Cat) modelling is becoming a fixture for clients seeking coverage in a tightening market, a Hub International report states. “Catastrophe (CAT) modeling is…becoming essential in real estate resiliency,”…
Why it’s important to understand legal privilege after a breach
December 7, 2023 by Jason ContantA recent court ruling in Australia concerning the primary purpose of a forensics report following a cyberattack serves as a crucial reminder about legal privilege for Canada’s cyber insurance market. In a Nov. 10 decision, the Federal Court of Australia…
Why the hospitality hard market won’t end in 2024
December 6, 2023 by Alyssa DiSabatinoPersistent labour shortages, forecasted lower levels of travel, elevated inflation and rising property insurance rates will threaten the hospitality industry’s profitability in 2024, Hub International predicts in its 2024 Outlook series. Yet, with prolonged periods of government mandated shutdowns, low…
U.S.-based insurance provider to acquire Sutton Special Risk
December 6, 2023 by Jason ContantNew York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates…
Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
December 1, 2023 Amanda Stephenson - THE CANADIAN PRESSCALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued…
Police, insurers collaborate to dismantle auto theft ring
November 30, 2023 by Jason ContantOntario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday. As part of the investigation dubbed Project…
Government impersonation, phishing are top financial scams, Interac survey finds
November 30, 2023 Ritika Dubey - THE CANADIAN PRESSTORONTO – Government impersonation is one of the most common financial scams plaguing people across Canada, a new survey from payment processing company Interac Corp. has found. The report, released Tuesday, said 42 per cent of survey respondents reported dealing…
Why you need to consider embedded insurance
November 23, 2023 by Jason ContantEmbedded insurance not only enhances the customer experience but also provides greater access to data for insurers, speakers said during KPMG’s recent 2023 Insurance Conference in Toronto. “You unlock a lot of data that will change the way you do…
Fighting inflation half-heartedly would be ‘huge mistake,’ Bank of Canada warns
November 22, 2023 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Bank of Canada Governor Tiff Macklem warns fighting inflation half-heartedly and living with its consequences would be a huge mistake. The governor acknowledged during a speech Wednesday that interest rates may already be high enough to bring inflation…
Has private equity interest in P&C brokerages peaked?
November 21, 2023 by Jason ContantPrivate equity interest in the Canadian P&C brokerage space is showing no sign of slowing down, industry observers said last week at KPMG’s 2023 Insurance Conference in Toronto. Private equity groups remain eager to acquire Canadian brokerages, said Andrew Mathias,…