Topic Commercial
What will help reduce farm fire severity?
August 15, 2023 by Jason ContantThe severity of fire losses in the agricultural sector is increasing as Canadian farms get bigger in size and value, but technologies are available to help reduce the frequency of that severity, a farm insurance expert told Canadian Underwriter. In…
Humber building talent pipeline into the property restoration industry
August 14, 2023 by David GambrillHumber College in Toronto is building a talent pipeline into the Canadian property restoration industry. “We’re looking at building a program that will help get more talented, skilled professionals into the restoration property management space, and then have graduates work…
Health concerns raised after massive fire at Toronto industrial site
August 11, 2023 by The Canadian PressToronto firefighters were battling to control a major blaze at an industrial site where chemicals are stored in the city’s west-end, as area residents were ordered to stay indoors with their windows shut amid concerns about hazardous smoke. Firefighters are…
Hub privacy breach affects “limited” amount of Canadian data
August 11, 2023 by David GambrillHub International Limited, a Chicago-based brokerage with offices in 10 Canadian provinces and territories, has reported a privacy breach of data related to “a limited number of Canadians.” Hub posted a “notice of a data privacy event” online on Friday,…
How Intact CEO views the M&A landscape
August 11, 2023 by Jason ContantM&A transactions involving large-value brokerage deals do not reflect a trend and likely aren’t sustainable, Intact Financial Corporation CEO Charles Brindamour suggested during a recent earnings call. “If I go towards distribution, which are smaller transactions, I think we’ve seen…
Canadian businesses hit hard by data breach costs
August 10, 2023 by Alyssa DiSabatinoEven as Canadian companies become more aware of their cyber risk, threat actors are hardly deterred, a new report shows. Canadian companies are paying nearly $7 million Cdn, per incident, in data breach costs. That’s the third highest in…
A busy summer for M&A at two of Canada’s largest brokerages
August 9, 2023 by Alyssa DiSabatinoSummertime M&A has not been slowing down for BrokerLink and Westland Insurance who have respectively completed three and two more deals in August. For BrokerLink, the three latest deals account for a total of twelve in 2023 thus far, focused…
How is farm fire severity trending?
August 9, 2023 by Jason ContantAs Canadian farms increase in size, so too does the severity of fire losses in the agricultural sector, a farm insurance expert told Canadian Underwriter. In general, the number of farms in Canada is dropping, but they’re getting much larger.…
Why Berkshire Hathaway’s fidelity bond didn’t cover a Ponzi scheme
August 9, 2023 by David GambrillA fidelity bond issued by Berkshire Hathaway does not cover the loss of an investment firm arising from a Ponzi scheme perpetrated by one of its underlying fund managers. The Ontario Superior Court decision will be appealed, counsel for the…
What’s behind Hub’s latest acquisition
August 3, 2023 by Alyssa DiSabatinoHub International has acquired British Columbia-based Golden Ears Insurance Services Ltd. The acquisition will position the global insurance brokerage to build out its specialty lines, a Hub executive told Canadian Underwriter in a statement. “Golden Ears fits well with Hub’s…
How much shareholder value drops after a cyber breach
August 2, 2023 by Alyssa DiSabatinoMajor cyber incidents disrupt more than a corporation’s operations. Shareholder value, a key measure of a company’s financial health, was shown to fall an average 9% in the year following an event, a recent Aon report showed. With that, C-suite clients…
What it would take for Osoyoos wildfires to become a Cat
August 1, 2023 by Alyssa DiSabatinoWinds diverting a wildfire burning near Osoyoos, B.C., may have prevented a Cat-level event for the industry, adjusters tell Canadian Underwriter. A raging wildfire scorched 40 square kilometres of land and destroyed several structures in Washington, U.S., before jumping the…