Topic Insurers
Will changes to Alberta auto reduce insurers’ claims costs?
November 20, 2020 by Jason ContantProposed changes to auto insurance regulations in Alberta and new Orders in Council should help reduce claims costs for insurers, Insurance Bureau of Canada (IBC) told Canadian Underwriter Thursday. Bill 41, the Insurance (Enhancing Driver Affordability and Care) Amendment Act,…
Opinion: Looking to acquire? Don’t forget about intellectual property
November 19, 2020 by Kristian Kolsaker and Angus Marshall, CFC UnderwritingIntellectual property rights are a crucial part of any merger or acquisition so it’s important, whether you are engaging in an industry merger or advising clients on a deal, to consider ways to avoid potential infringements. Intellectual property (IP) has…
Where The Guarantee Company’s CEO landed after Intact acquisition
November 18, 2020 by Greg MeckbachStephen Ruschak, who led The Guarantee Company of North America at the time it was acquired by Intact Financial Corp., is now working for Arch Capital Group Ltd. Bermuda-based Arch Capital announced Tuesday that Ruschak is now executive vice president…
The right — and wrong — risks clients should consider when setting up a captive
November 18, 2020 by Adam MalikA captive insurance solution is designed for long-term risks, so a client looking to set something up for short-term risks may end up regretting that decision, experts warned during a recent Canadian Underwriter webinar. When a company sets up a…
What Canadian MGAs think about the proposed Intact-RSA merger
November 18, 2020 by David GambrillOn the day Intact made its joint offer with Denmark-based insurance giant Tryg A/S to acquire RSA plc for Cdn$12.3 billion official, a Canadian association of managing general agencies (MGAs) expressed concern about the deal’s potential impact on market choice…
How Intact will decide what becomes of RSA Canada’s brands
November 18, 2020 by Greg MeckbachIf Intact Financial Corp. takes over RSA Canada, the combined firm will go to market with the “strongest” brands, meaning it remains to be seen what happens in Canada to brands such as RSA, Unifund, and Johnson, Intact’s CEO suggested…
How renewal delays are taking a toll on brokers
November 17, 2020 by Adam MalikInsurers are becoming more meticulous around what they deem to be a good risk and that extra scrutiny is giving brokers heavier workloads, broker leaders say, and it could force brokers to limit how much they take on. Interest rates…
What happened to this therapist who was convicted of insurance fraud
November 17, 2020 by Greg MeckbachAn Ajax, Ont. woman who billed claimants and insurers for therapy services that were never performed has lost her bid to appeal her criminal convictions to the Supreme Court of Canada. In 2008, a motor vehicle accident victim went to…
This Canadian insurer may want to cover your hospitality clients
November 17, 2020 by Greg MeckbachBrokers struggling to find coverage for small and mid-sized restaurant and hotel clients may now have a new option available, and it’s already getting a response. CAA Club Group’s Echelon subsidiary announced Monday it is offering up to $5 million…
What the OneBeacon deal says about Intact’s prospects with RSA acquisition
November 17, 2020 by Greg MeckbachIntact Financial Corp.’s recent experience writing commercial specialty in the United States is a good sign it could be successful writing property and casualty insurance overseas, analysts tell Canadian Underwriter. RSA plc and Intact announced earlier this month a possible…
Swiss Re’s new head of P&C client markets in Canada
November 16, 2020 by David GambrillAgis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,…
Why smaller organizations are interested in creating captives
November 16, 2020 by Adam MalikInterest in captives naturally increases as a hard market intensifies, but now even mid-market or smaller organizations are considering captives as an alternate way to transfer risk, panellists of a Canadian Underwriter webinar observed Monday. “Traditionally, when you think of…