Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows. The second iteration of Impact’s annual Insurance…
If parents permit an adult child to use their all-terrain vehicle (ATV), and the son or daughter then negligently turns over control of that ATV to an inexperienced driver who gets seriously injured in a crash, the parents can be…
Canada’s top court has kicked an auto accident benefits dispute back to the Ontario Licence Appeal Tribunal, effectively confirming courts have discretion to review decisions from the LAT, even if claimants only have a limited right to appeal LAT decisions.…
All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year. Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks…
An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled. “An admission of liability to pay on the part of an insurer…
Ontario’s insurance regulator offered a spirited defence of principles-based regulation last week, giving concrete examples of how the approach spares insurance companies from facing unnecessary prescriptive rules. Joanne De Laurentiis, chairwoman of the Financial Services Regulatory Authority (FSRA), also addressed…
Aviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines. The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up…
BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides…
Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm. Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,…
Aviva Canada ended 2023 with an undiscounted combined operating ratio (COR) of 95.3% and double-digit growth in gross written premiums, despite challenging market conditions that included increased weather-related losses and heightened auto theft. The undiscounted ratio for 2023 was up…
Potential risks stemming from P&C insurers’ managing general agent (MGA) outsourcing practices have caught the eye of Ontario’s insurance regulator, and it’s looking for feedback from stakeholders on a supervision plan. Insurers and MGAs alike have begun to weigh…
Ontario’s auto insurers shouldn’t expect changes to the ‘take all comers’ or Unfair or Deceptive Practices Act rules, Michelle Dodokin, head of auto insurance supervision at Ontario’s Financial Services Regulatory Authority (FSRA), told a breakout session at Monday’s 2024 FSRA…