Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
An Alberta car dealership selling equipment warranties but not submitting the premiums to the insurer has been fined $85,000 by the province’s insurance regulator. Alberta Insurance Council [AIC] noted in its November 2023 decision that Penhold Car Farmers sold 17…
BrokerLink has completed 20 total acquisitions in 2023, including two new brokerage deals — one in Alberta and one in Ontario. “The company remains a top succession option for principals who are thinking about the future of their operation…
Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in…
In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week. Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were…
Private 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.…
CALGARY – 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…
Private 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,…
Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and Rubber Association of Canada…
For the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association. The auto insurance fraud prevention organization today announced its Top 10 Most Stolen Vehicles in Canada, which now includes…