Intact’s CEO Charles Brindamour said he is “quite thrilled” with some of the auto insurance reform measures contained in Ontario government’s proposed budget. Brindamour commented on the budget proposals for auto insurance reform during a Virtual Fireside Chat with RBC…
A car owner is vicariously liable for any damage or injury caused by the driver of their borrowed car, even if the owner places conditions on — or revokes — consent while the driver is still in possession of the…
Definity Financial Corporation president and CEO Rowan Saunders doesn’t expect the Canadian P&C insurance industry’s return on equity to remain as elevated as it was last year. In 2021, the industry’s ROE hit 17%. The industry also recorded the lowest-ever…
For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…
A central pillar of the B.C. government’s auto insurance reform — that the province’s Civil Rules Tribunal (CRT) has exclusive jurisdiction to determine minor injuries below $50,000, and not the courts — has been found constitutional by the B.C. Appeal…
Canadian Insurance Services Regulatory Organizations (CISRO) has recently published the Principles of Conduct for Insurance Intermediaries, intended to help ensure the fair treatment of P&C consumers — and the Ontario regulator predicts broker compliance will be high. Many of…
In this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
Editor’s Note: This article has been corrected so that all incorrect references to Unica have been replaced with correct references to Optium. Canadian Underwriter apologizes for the error. If an insurer wishes to deny auto coverage to an injured…
Ontario NDP Leader Andrea Horwath has proposed to lower auto insurance rates by 40% and investigate a “new system” for auto insurance that could include a public or partially public system. Horwath says if she is elected premier in the…
Paul Johnstone has been named president of Canadian operations for Chubb, the P&C insurer announced Friday. Johnstone will assume the role of country president of the company’s business operations in Canada on July 1, subject to regulatory approvals. He will…
Brokers are justified in thinking independence is shrinking due to increased consolidation in the P&C industry, according to Lorie Phair, president of the Canadian Broker Network (CBN), Canada’s largest network of independent brokers. To think ownership does not influence a…
Editor’s Note: The Conservative government outlined its plans for insurance in their budget document, released before the Ontario election, which will take place June 2. Canadian Underwriter is asking Ontario’s political parties for their platforms on insurance. We are printing…