Topic Insurers
How the lack of cyber caselaw worked against an insurer in a $75-million data breach lawsuit
June 9, 2020 by David GambrillThe lack of cyber case law worked against an insurer in the Ontario Superior Court of Justice recently, with the court deciding that The Co-operators has a duty to defend two parties named in a $75-million cyber breach class action…
Customers not lauding insurers’ relief measures, but they aren’t shopping around either
June 8, 2020 by Greg MeckbachThe majority of Canadian motorists surveyed are not satisfied with the financial relief measures offered by their insurers, a recently-released Leger Marketing poll indicates. “What struck me as interesting was that although 52% said they were not satisfied, 40% [of…
Allstate adds Power to its Canadian lineup
June 8, 2020 by David GambrillJennifer Power is the new vice president of Pembridge and Pafco, Allstate Insurance Company of Canada has announced. Power succeeds Bob Tisdale, who announced his retirement last year as president and chief operating officer of Pembridge and Pafco, and vice…
Guess who Desjardins appointed to lead national growth?
June 3, 2020 by David GambrillDesjardins has tapped Marilyn Horrick to be its senior vice president of the Ontario market, effective June 8, 2020. “Thrilled to be joining this world-class organization one week today,” Horrick posted on LinkedIn. “Moving into a role that keeps me…
The upside for Intact of getting into the property restoration business
May 20, 2020 by Greg MeckbachIf Intact Financial Corporation CEO Charles Brindamour had his way, Intact would be as big in property restoration as it is in the brokerage business. Brokerlink currently has more than 140 brokerage offices and 2,000 employees, and Intact is closing…
Lloyd’s estimates COVID’s cost to the industry and its own market
May 15, 2020 by Greg MeckbachThe Lloyd’s market will pay “in the range” of $3 billion to $4.3 billion “as a result of the far-reaching impacts of COVID-19,” the Corporation of Lloyd’s announced Thursday. Comparing the overall COVID-related losses to the 2001 terror attack in…
What Intact’s next acquisition target might look like
May 14, 2020 by Greg MeckbachDon’t be surprised if you see Intact Financial Corp. announce the acquisition of a United States-based commercial specialty property and casualty insurer in the future. During a fireside chat Wednesday with John Aiken, Toronto-based financial service analyst with Barclays, Intact…
Aon names new president of Reinsurance Solutions in Canada
May 8, 2020 by David GambrillMatt Wolfe has been appointed the new president of Reinsurance Solutions in Canada, Aon plc announced Friday. “In his new role, Matt will lead the Canadian Reinsurance solutions team and bring unmatched analytics and insights to clients across the country,”…
How Intact is handling commercial insurance relief measures
May 7, 2020 by Greg MeckbachCanada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call…
This is not a drill
May 1, 2020 by By Canadian Underwriter StaffBattle stations, everyone. This is not a drill. Repeat: This is not a drill. COVID-19 has infected the world, and P&C organizations are not immune to the impact of the novel coronavirus. But a proper, well-rehearsed business continuity plan can…
Head of RBC says not to expect quick economic recovery from COVID-19
April 8, 2020 by The Canadian PressTORONTO – The head of the Royal Bank of Canada is warning the economic recovery from the COVID-19 pandemic will likely be slower and more uneven than originally thought. CEO Dave McKay said Wednesday that the depths of the challenge…
How Canada’s P&C industry will weather the economic storm from COVID-19
April 1, 2020 by Jason ContantCanada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus…