Price point and carrier capacity have become increasingly important factors for brokers in recommending insurance coverage to their clients over the past year, according to Canadian Underwriter’s 2021 National Broker Survey. Canadian Underwriter asked 234 Canadian P&C insurance brokers across…
The hard market in commercial lines has caused some managing general agents to lose some products, yet more insurance is still being placed through MGAs, panelists told brokers listening to a recent webinar. “I think it’s a perfect way for…
The Quebec government on Sunday announced plans to rebuild a historic courthouse in the Saguenay-Lac-St-Jean region that was heavily damaged by fire and smoke the previous night. Andree Laforest, the legislature member for the region, confirmed the province would help…
Canadians tend to pay higher premium for insurance than citizens in many, if not most, other developed nations, according to a recent report from the C.D. Howe Institute. Three years in the making, the report is authored by Alister Campbell,…
With some commercial coverages becoming harder to place in the hard market, reinsurers are looking to distribute through managing general agents, Virtual Symposium B.C. attendees heard Thursday. “I had two meetings today with two separate reinsurers who are very interested…
Commercial liability clients do not have to settle personal injury lawsuits even if the defendants are perceived as having deep pockets, a recent Court of Appeal for Ontario ruling suggests. “A litigant, or its insurer, even if wealthy, is not…
Alberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52…
Citing very tight definitions of the types of incidents that would trigger a terrorism policy, an expert is advising P&C industry professionals to help commercial clients get additional coverage, providing a wider scope of protection. Several exclusions and definitions currently…
Although American inventor and Founding Father Benjamin Franklin was not referring to insurance when he penned the famous words “time is money,” today’s risk managers should take the expression to heart if they wish to reduce their companies’ claims costs.…
The parent company of Northbridge Insurance took a stand against cutting staff due to the pandemic. “One of the things we did last year is we said [to the president of each Fairfax-owned insurer], ‘You cannot use COVID-19 as a…
MONTREAL – The COVID-19 pandemic, a dockworkers strike and a rail blockage hit the Port of Montreal, which saw its cargo volumes fall in 2020 for the first time in seven years. The port says its volumes fell 14 per…
By acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from…