Canada’s P&C insurance industry survived the pandemic year of 2020 in good financial health, although some insurers wound up with healthier balance sheets than others, according to financial data published in the forthcoming MSA Research Q4-2020 Outlook Report. “The Canadian…
CAA Insurance has seen driving halved since the start of the COVID-19 pandemic, according to its president. Through its pay-as-you-go program, MyPace, and what customers have told the insurer about the number of kilometres they are now travelling, CAA president…
COVID-19 may have affected the earnings of individual P&C insurers unevenly, but the industry’s overall capital base reached the unparalleled height of $52.6 billion during the first three quarters of 2020, according to the Property and Casualty Insurance Compensation Corporation…
Motorists who are driving fewer kilometres than they were before the pandemic are more likely to select usage-based auto insurance, Intact Financial Corp. observes. “COVID has pushed consumers to recognize that maybe UBI would be a tool that will immediately…
The acceleration of digital transformation in the pandemic era means insurance companies need to evolve, and that starts with reimagining your core technology systems. Over the insurance industry’s long history, a key hallmark has been its promise of peace-of-mind, trust…
VANCOUVER – The Insurance Corporation of British Columbia says it’s temporarily delaying the delivery of COVID-19 rebate cheques due to a cyberattack on a third-party vendor contracted to provide printing and distribution services. ICBC says in a statement the vendor…
Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A…
A key step in Economical Insurance’s demutualization process, the third and final policyholder vote, is scheduled May 20, the Waterloo, Ont.-based insurer announced this week. If a client had a policy – either mutual or non-mutual – with Economical in…
Nova Scotia’s insurance regulator has approved RSA Canada’s proposed introduction of a “Quality Rating Factor” (QRF), which uses credit scoring for rating auto insurance. RSA Canada’s proposed QRF, obtained with the client’s consent, will only apply to writing new auto…
Legal expense insurance company ARAG Group has announced that it will be acquiring competitor DAS Legal Protection in Canada. The deal was announced Tuesday in a move that will see the German-based company acquire the Canadian MGA. Terms of the…
Hospitality clients are starting to get coverage from multiple carriers on a subscription basis through the Business Insurance Action Team, says the CEO of one of the participating insurers. Cambridge, Ont.-based Gore Mutual is participating in the BIAT, launched in…
During the pandemic, in the absence of being able to meet job candidates face-to-face during the hiring phase, it’s best to arrange multiple meetings to get a better sense of what your new recruits are like, and whether they are…