Topic Ontario
Ontario brokers’ biggest source of competition
June 22, 2023 by Alyssa DiSabatinoAlthough Ontario’s broker distribution market share has slightly increased year-over-year, the direct-to-consumer (D2C) distribution channel is becoming more competitive, an expert broker shared at the Young Brokers Conference in Niagara Falls. Ontario brokers should expect to feel more pressure from…
Why consolidation slows down service levels
June 21, 2023 by Alyssa DiSabatinoConsolidators will have to tread the line between growing rapidly while also ensuring growth doesn’t hinder operations, particularly customer service, said experts at an industry panel. Amid consolidation, small and medium-sized brokerages will be able to remain competitive if they…
Did the court jump the gun on allowing a negligence claim against a brokerage?
June 16, 2023 by David GambrillA brokerage has been added as a defendant in a sideline negligence claim, even though the central legal action for breach of contract involving two other parties (including a defendant reinsurer) has yet to be decided. Ontario’s Superior Court applied…
Top court rejects Travelers appeal in dirt bike accident benefits case
June 15, 2023 by David GambrillIt’s the end of the line for Travelers’ appeal of an accident benefits case involving a dirt bike driven in a closed course competition. The Supreme Court of Canada rejected the insurer’s leave to appeal Thursday. This means a dirt…
Swiss Re Corporate Solutions names new head of Canada
June 13, 2023 by David GambrillSwiss Re Corporate Solutions has appointed James Gasco head of Canada for Swiss Re Corporate Solutions, effective Sept. 1, 2023. Gasco succeeds Adrian Hall, who moves to London to become Head UK, Ireland, South Africa, and EMEA Wholesale for Swiss…
How Pride Toronto got swept up in entertainment line’s hard market
June 13, 2023 by Alyssa DiSabatinoPride Toronto’s executive director says the organization has seen a 300% increase in its insurance premiums ahead of this month’s parade and festival programming. This trend of higher premiums for public events is not unique to Pride Toronto; organizers of large…
Acquisition broadens NFP’s Ontario base
June 8, 2023 by Philip PoradoNFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”…
Auto insurers pay out record amount for auto theft
June 8, 2023 by David GambrillSupply chain issues are creating a hot domestic market for stolen vehicles, which in 2022 cost Canadian property and casualty auto insurers more than an estimated $1 billion — the most the industry has ever paid for auto theft in…
Westland widens Ontario footprint with new acquisitions
June 7, 2023 by Alyssa DiSabatinoWestland Insurance has acquired two Ontario-based brokerages, MYCOR Insurance Solutions Inc. and Murphy Insurance Services Inc., further expanding its fleet in the province. The acquisitions, effective June 1, will enable Westland to continue growing in Canada, “both organically and through…
BrokerLink buys Burlington brokerage
June 6, 2023 by Philip PoradoFor the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),…
Man injured in a crash while sleeping in a stolen truck is covered
May 31, 2023 by David GambrillA man sleeping in the back of a pickup truck when it was stolen by an uninsured driver and involved in a serious crash is entitled to auto insurance coverage, the Court of Appeal for Ontario has ruled. The Appeal…
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…