Topic Ontario
Why auto regulator fined Aviva and S&Y $300K each
August 4, 2023 by David GambrillOntario’s insurance regulator has fined Aviva Insurance Company of Canada (AIC) and its subsidiary S&Y Insurance Company (S&Y) $300,000 each for breaching the province’s “take all comers” rule for auto insurance. In a settlement with the Financial Services Regulatory Authority…
Police say 138 vehicles recovered in probe targeting organized crime
August 4, 2023 by The Canadian PressPolice in Windsor, Ont., say they have recovered 138 stolen cars with a total value exceeding $9 million following a joint probe conducted with provincial investigators who specialize in organized crime. They say the probe, dubbed Project Fairfield, was launched…
Industry veteran no longer with insurance regulator
August 2, 2023 by Jason ContantIndustry veteran Tim Bzowey, most recently executive vice president of auto/insurance products with the Financial Services Regulatory Authority of Ontario (FSRA), is no longer with the regulator. “We would like to express our sincere thanks to former executives Caroline Blouin…
What’s the future for Canada’s reinsurance rates?
August 2, 2023 by Alyssa Di SabatinoNew risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was…
Why AB claimant won’t receive additional benefits
August 1, 2023 by Philip PoradoAn applicant citing pain and other issues did not meet the burden of proof for an insurer to provide benefits beyond the minimum injuries guideline (MIG), adjudicator Janet Roswell wrote in a July 28, 2023 Licence Appeal Tribunal decision (Jabbour…
Ontario, Quebec to see more tornado ‘fuel,’ but more data needed
July 19, 2023 by Thomas MacDonald - THE CANADIAN PRESSMONTREAL – Climate change will likely bring more weather conditions to Ontario and Quebec that are favourable to the development of tornadoes, but it’s still unclear whether Central Canada will actually be hit by more of them, experts say. Severe…
M&A frenzy continues with multiple deals announced
July 19, 2023 by Jason ContantCorrection: The article has been amended to show Andrew Agencies has 22 locations, not 200 as previously reported. Canadian Underwriter apologizes for the error. On the heels of separate deals that closed at the beginning of the month, large…
Montreal-Barrhaven storm declared a Cat
July 18, 2023 by Alyssa DiSabatinoThe storm that hit Montreal on Thursday, downing trees and power lines and causing localized flooding, has been declared a catastrophe, Laura Twidle, president and CEO of Catastrophe Indices & Quantification Inc. (CatIQ) told Canadian Underwriter. A ‘catastrophe’ is an…
Tornado hits suburban Ottawa neighbourhood, damaging 125 homes and scattering debris
July 14, 2023 by Mia Rabson and Liam Fox - THE CANADIAN PRESSOTTAWA – The remains of totalled fences, blown-out windows and ripped-off roofs were scattered across a south-end neighbourhood in Ottawa on Thursday after a tornado hit with little warning. After the skies had cleared, families sat out on their porches…
Large Canadian brokerages announce latest M&A deals
July 13, 2023 by Jason ContantCanadian P&C brokerage merger and acquisition activity continues to burn red-hot in the second half of 2023, with large brokerages BrokerLink and Acera Insurance announcing a combined three deals recently. BrokerLink acquired Ontario-based Donnell Insurance Brokers Ltd. and New Brunswick-based…
Zurich Canada names new CFO
July 11, 2023 by Jason ContantZurich Canada has named Björn Bierfreund as its new chief financial officer. He replaces Lori Cassidy, who was recently appointed CFO for Zurich Commercial Insurance. In his new role, Bierfreund will be responsible for the continued financial stewardship of Zurich…
Is spilling coffee on yourself at a drive-thru an auto ‘accident’?
July 10, 2023 by Jason ContantOntario’s Licence Appeal Tribunal (LAT) has ruled in favour of Co-operators in an accident benefits case after finding a driver’s use and operation of his vehicle did not directly cause his injuries and thus did not meet the definition of…