In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film, Rick Blaine,…
Clients will benefit from competitive market pricing for directors and officers (D&O) insurance in 2024, but can expect underwriting discipline to return, says Allianz Commercial’s D&O insurance report. Of particular concern is inadequate responses by company directors and officers to…
Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
With the federal government cracking down on short-term rentals, property and casualty insurance providers are urging clients who rent their properties short-term to contact them to verify whether or not they are covered for property damage or liability for third-party…
Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in…
During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
With natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements. Intact subsidiary On Side Restoration has acquired Superior Disaster Services Ltd., in a deal that closed Dec.…
Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that…
Ontario is taking tow truck services out of the hands of municipalities and requiring tow truck operators to be certified and adhere to a Code of Conduct. “This marks the end of municipal regulation of towing and storage operators, with…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
As the hard market proceeds apace in the Canadian P&C insurance industry, a projected economic slowdown in 2024 could invite more insurance regulation, since Canadians will find it harder to pay their insurance bills, a ratings agency warned. “While growing…