Even as B.C. wildfires continue to burn, investigations begin and claims start rolling in.
Canadian managing general agent BOXX Insurance Inc. is about to set up an office in Miami and is looking for carriers to underwrite its cyber coverages outside of Canada. Toronto-based BOXX announced last week it is expanding to the United…
Municipalities respond to series of tornadoes with new rules governing building construction.
KPMG’s Chris Cornell says project management, system implementation, and accessing resources are the biggest challenges, as the start date of the new insurance accounting standard IFRS 17 approaches.
Walter Neff from the 1944 film Double Indemnity is the quintessential insurance agent. Office-bound and clad in suit, tie and hat, Neff is symbolic of a bygone era. Times have changed, and so have dress codes. “More companies have started…
There’s good and bad news when it comes to commercial lines in the Canadian property and casualty insurance industry. The good news is there’s encouraging signs the commercial market is stabilizing, said Don Forgeron, president and CEO of Insurance Bureau…
The industry made a record profit in homeowners’ insurance and overall premiums are up, but 20 Canadian insurers are losing money while dozens recently lost market share, an economist with Property and Casualty Insurance Compensation Corporation observes. “The healthy insurance…
Manitoba Public Insurance (MPI) is reporting a 27% decrease in claims costs in the first quarter of 2021 compared to a year ago, primarily as a result of less vehicles on the road due to the COVID-19 pandemic. Claims costs…
Liability insurer Northbridge does not have to cover a Prince George, British Columbia daycare owner accused of shaking a child severely enough to cause brain injury, a judge ruled last week. A lawsuit, against the person operating the daycare, was…
The Insurance Bureau of Canada’s Investigative Services division is being transferred to a new organization, Équité Association, effective Oct. 1. That transfer has been approved by IBC’s board, IBC announced Monday. Équité Association integrates IBC’s investigative services division with the…
Canada’s Property and Casualty Insurance Compensation Corporation (PACICC) is considering whether it needs to increase the size of its compensation fund in the event of a P&C insurer failure. PACICC’s board has asked management to complete a formal review of…
Martin Thompson, until recently CEO of RSA Canada, will be stepping in as interim Group CEO of Brit Ltd., which is owned by Toronto-based Fairfax Financial Holdings Limited. Brit, which covers complex risks, said in a press release Tuesday that…