Topic Ontario
BrokerLink president shares thoughts on brokerage M&A
May 24, 2023 by Jason ContantBrokerLink still sees plenty of M&A opportunities in provinces where it currently operates and doesn’t have any immediate plans to expand into new geographic areas, the brokerage’s president told Canadian Underwriter in an interview Tuesday. BrokerLink is focusing its resources…
Navacord announces its biggest deal yet
May 24, 2023 by David GambrillNavacord has invested heavily into its wealth management and group benefits capabilities, acquiring RWAM Insurance Administrators Inc and Programmed Insurance Brokers (PIB) Inc. “As Navacord’s largest transaction to date, the partnerships with RWAM and Programmed Insurance Brokers Inc. underscore Navacord’s…
Emissions from wildfires hit record high as climate change drives fire threat
May 19, 2023 by The Canadian PressOTTAWA – Emissions from wildfires hit a new record in 2021 as the blazes that raged in Western Canada and Ontario produced more greenhouse gases than the oil and gas sector and heavy industry combined. Canada’s forests are relied on…
What’s new with cannabis insurance regulations?
May 18, 2023 by Jason ContantOne MGA is questioning a regulatory change in Ontario that dropped a mandatory requirement for licensed producers (LPs) of cannabis to hold $15 million in product recall insurance and instead raised the commercial general liability requirement to that amount. In…
‘Minor injuries’ don’t exist if they fall outside the Minor Injury Guideline
May 17, 2023 by David GambrillAn auto injury falling outside of Ontario’s $3,500 Minor Injury Guideline (MIG) cap is no longer a ‘minor injury’ for the purpose of imposing funding limits on certain medical goods and services, Ontario License Appeal Tribunal (LAT) has ruled. “There…
How theft and Alberta’s rate pause affected Definity’s auto portfolio
May 16, 2023 by David GambrillAuto theft, inflation, and increased claims frequency due to traffic returning to pre-pandemic levels all contributed to pushing Definity’s combined ratio in personal auto up to 100.9% in 2023 Q1, company executives reported in the company’s earnings call last week.…
National disaster report highlights industry loss potential
May 12, 2023 by Alyssa DiSabatinoA major earthquake in British Columbia or the Ontario-Quebec region could become the costliest natural disasters Canada has seen, a new government of Canada report warns. Of pertinence to the industry, as insured damages for a severe earthquake could broach…
How much it would cost to insure Fast & Furious supercars
May 11, 2023 by Jason ContantIf you’re a fan of the Fast & Furious movie franchise, you’re probably looking forward to the 10th installment — Fast X — which opens May 19. But have you ever given much thought to how much it costs to…
IBAO CEO’s thoughts on McDougall-McFarlan Rowlands merger
May 10, 2023 by Jason ContantMcDougall Insurance’s recent merger with McFarlan Rowlands shows the broker distribution network continues to be a healthy investment choice, Insurance Brokers Association of Ontario (IBAO) CEO Colin Simpson told Canadian Underwriter recently. Of course, the larger independent brokerage groups become,…
Definity’s McDougall merges with McFarlan Rowlands
May 8, 2023 by Jason ContantLarge Ontario brokerage McDougall Insurance Brokers Limited, a subsidiary of Definity Financial Corporation, has merged with another large provincial brokerage — McFarlan Rowlands Insurance Brokers Inc. The combination of McDougall and McFarlan Rowlands represents more than $700 million in annual…
Court backs broker in dispute over buying his book of business
May 5, 2023 by David GambrillOntario’s Appeal Court has denied an appeal by a St. Catharines, Ont. brokerage in a dispute over the contract terms of a producer buying out his book of business after he served notice he was leaving the brokerage. In Lindsay…
Westland expands reach in Ontario with latest acquisition
May 5, 2023 by Jason ContantWestland Insurance has acquired Ontario-based First Durham Insurance & Financial Ltd., one of the largest and oldest full-service independent brokerages in the Durham Region. “Effective May 1, this acquisition helps Westland expand its reach in the important Ontario market,” Westland…