Intact Financial Corp. recently reported its catastrophe losses, net of reinsurance, were $88 million for the first three months of 2017. Toronto-based Intact also says it wants to “double” its direct-to-consumer business in the “mid-term” and is nominating Sylvie Paquette,…
One Alberta brokerage and two Ontario brokerages announced on Tuesday that they will join BrokerLink, one of the largest Canadian property and casualty insurance brokerages. Alberta-based Full Circle Insurance Ltd. and Ontario brokerages Fairview Insurance Brokers Inc. and Steven Kaluski…
Analytics is the single greatest disruptor to the Canadian insurance industry today, according to 65% of executives polled for a recent survey by Insurance Nexus, a division of FC Business Intelligence. Insurance Nexus reported on Tuesday that it recently surveyed…
The board of directors of the Insurance Brokers Association of New Brunswick has “voted to suspend a longstanding sponsorship partnership with Aviva Canada,” IBANB said in a release sent Wednesday. On Jan. 18, Aviva announced it is offering “team branded”…
American International Group (AIG) announced on Thursday that its president and CEO, Peter D. Hancock, has informed the board of directors of his intention to resign, citing lack of shareholder support. As part of the transition plan, Hancock will remain…
Brokers could provide added value to their customers by suggesting offers that that help save money on home and auto insurance, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard last week. “Fully 50 to 60% of your customers are saying,…
Learning is a life-long process and not just for humans – online chatbots can also continue to learn and become smarter, attendees to the Insurance-Canada.ca Broker Forum (ICBF) heard on Wednesday. Amanda Ketelaars, operations manager with Whitby, Ont.-based Mitchell &…
The Institute for Catastrophic Loss Reduction (ICLR) will be holding a webinar on “physics” versus climate models as related to extreme rainfall on March 24. The ICLR announced the webinar, titled Practical issues in updating IDF curves for future climate:…
If an insurer can offer brokers more products, assistance and their brand is recognized by clients, “there is some value there,” Jeff Roy, CEO of Excalibur Insurance Group, suggested on Wednesday at the Insurance-Canada.ca Broker Forum, held at the Allstream…
Competitors outside the property & casualty industry are trying to “bite away” at the P&C market, while fintech is starting to “emerge in spaces where banking isn’t,” a senior executive with a major insurer told industry professionals Tuesday. “Over the…
A “potent combination” of technological change, talent pressure, customer expectations and cyber risks is forcing Canada’s property and casualty (P&C) insurers to embrace innovation more urgently than ever in 2017, according to a new report from EY. EY’s 2017 P&C…
An Ontario court has appointed two committees to negotiate the allocation of benefits from a demutualization of Economical Insurance, the Waterloo, Ont.-based insurance carrier announced Friday. No federally regulated P&C insurers have demutualized yet. Canada did not have regulations allowing…