Economical is now the insurer of choice to provide commercial auto coverage for peer-to-peer car-sharing marketplace Turo in Ontario, Québec, Alberta and Nova Scotia. Turo is a host-and-guest car sharing service that allows owners to list their vehicles – including…
Nova Scotia’s insurance regulator has approved Intact Insurance for a small rate increase for individually rated commercial vehicles, including interurban trucks, in a decision more noteworthy for its insight into the kind of profit level the regulator expects of insurance…
Intact Financial Corporation CEO Charles Brindamour says Canada’s largest P&C insurer has established a “truly global platform” that can now reach 70% of the global specialty solutions market with the expertise it has on board. “The thing that I like…
Focus on improving its commercial business has paid off, Definity Financial Corporation’s president and CEO Rowan Saunders told a Feb. 14 fireside chat with BMO Capital Markets equity analyst Tom MacKinnon. “It’s really a very different-looking portfolio now than it…
OSFI has softened its stance on two of the Canadian P&C industry’s key concerns in the solvency regulator’s final published guidelines on Sound Reinsurance Practices and Procedures (B-3) and Property and Casualty Large Insurance Exposures and Investment Concentration (B-2). Revised…
Six insurance companies and a pulp and paper manufacturing company, Fortress Specialty Cellulose, have lost their bid to have a PowerPoint presentation about the cause of a commercial explosion protected under litigation privilege. In rejecting their argument, the Superior Court…
Canada’s P&C insurance industry needs to adapt its climate risk business model to focus more on loss prevention rather than indemnity, a speaker says Thursday at an industry event. And pricing needs to be forward-looking rather than based on historical…
Market conditions for cyber and directors’ and officers’ (D&O) lines of business remain challenging in Canada, according to Aon plc’s latest quarterly Global Market Insights Report. Aon’s report for the fourth quarter of 2021, released Wednesday, emphasizes how new forms…
Tokio Marine Holdings and ICEYE, a radar data provider and expert in NatCat solutions, have announced a commercial collaboration to develop new insurance products and services that utilize satellite data. ICEYE says Tokio Marine (whose Canadian branch has underwriting offices…
Intact Financial Corporation expects its combined ratio to marginally improve in Canada as it continues to beat its own financial result expectations, the insurer’s chief financial officer says during an earnings call. Canada’s largest insurer saw operating direct premiums written…
OTTAWA – The governor of the Bank of Canada says higher interest rates are coming, but businesses also need to boost productivity to help keep rising prices in check over the long term. Tiff Macklem, speaking virtually at a Canadian…
Personal home insurance will continue to face a firm pricing environment for the foreseeable future, the CEO of Intact Financial Corporation said at a recent virtual conference. “You can expect a firm pricing environment, mid- to upper-single-digit range for the…