Topic Ontario
How Ontario direct compensation-property damage affects temporary loaner vehicles
November 17, 2021 by Greg MeckbachAn Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a…
What FSRA says about the ‘take all comers’ auto insurance rule
November 16, 2021 by Greg MeckbachOntario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services…
BrokerLink acquires brokerages in Alberta, Ontario
November 16, 2021 by Jason ContantBrokerLink has announced the acquisition of three new brokerages in Canada — one in Alberta and two in Ontario. The Intact Financial Corporation subsidiary said Monday it had acquired Alberta-based Blue Circle Insurance Brokers Ltd., as well as Ontario-based Stevenson…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
What the future holds for Unica, L’Unique, La Capitale and SSQ brands
November 11, 2021 by Greg MeckbachBeneva plans to replace its La Capitale and SSQ direct-to-consumer brands but it’s business as usual, for the time being, for the broker-distributed Unica and L’Unique brands. “As of today both L’Unique and Unica are brands that exist in the…
TTC says personal info of up to 25,000 current, former employees accessed in cyberattack
November 9, 2021 by Christopher Reynolds - THE CANADIAN PRESSToronto’s public transit authority says it now believes the personal information of up to 25,000 employees, former transit workers and pensioners was stolen in a ransomware attack last month. Names, addresses and social insurance numbers were taken, said the Toronto…
Court rules Ontario auto insurer’s request for claimant data ‘unnecessarily invasive’
November 8, 2021 by Greg MeckbachAn Ontario judge has turned down a request by Aviva Insurance Company of Canada to order a claimant to produce banking records showing the location of vendors from which that claimant had made purchases. In November, 2020, an Aviva auto…
Large Canadian brokerages grow larger through acquisitions
November 5, 2021 by Jason ContantTwo large Canadian property and casualty brokerages — Navacord and Westland Insurance — continue to grow with the announcement of their latest acquisitions in Ontario and Manitoba. On Thursday, commercial brokerage Navacord Corp. said it added Ontario-based brokerages Ives Insurance…
Brooke Hunter elected to UNIBA Partners board
November 4, 2021 by Greg MeckbachCanadian commercial brokerage CEO Brooke Hunter is now on the board of UNIBA Partners, a Brussels-based organization. UNIBA, which operates in more than 130 countries, announced Hunter’s election Wednesday. UNIBA is comprised of more than 70 independent, owner-led brokers. In…
Canadian brokerage space sees partnership, integration of brands
November 2, 2021 by Jason ContantOntario brokerage StoneRidge Insurance Brokers (SIB) has entered into a partnership with Underwriters Alliance, Inc. (UAI) to expand its service offering in group benefits and human resources services. In another announcement, large brokerage Navacord said it had completed the integration…
Ontario’s September storms cause insured damage of $105 million
October 29, 2021 by Canadian Underwriter StaffSevere storms in early and late September caused $105 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The Sept. 7 storms included heavy rain, wind and tornadoes that caused structural damage to many…
Customers increasingly receptive to digital documents
October 29, 2021 by Philip PoradoIt’s not due entirely to the pandemic but brokerage customers are more open to digital documents and focused on convenience, said panellists during an Insurance Brokers Association of Ontario (IBAO) virtual convention session. And whether those documents are delivered by…