Canadian Underwriter

Topic Ontario

Canada risk of earthquake
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Which peril might bankrupt the Canadian P&C industry?

June 28, 2023 by Canadian Underwriter Staff

Ottawa’s effort to build policy around flood risk in the face of climate change is important, but it overlooks a peril that could be far more catastrophic for Canadian P&C insurers, Alister Campbell, president and CEO of Property and Casualty

Success and strategy concept
News BrokersCommercialManagementMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Meet CBN’s latest member brokerage

June 27, 2023 by Jason Contant

Ontario-based My Insurance Broker (MIB) has joined the Canadian Broker Network (CBN). Based in Richmond Hill, MIB offers a variety of insurance products including home (as well as cottage and condo insurance), auto (Uber insurance, online auto quotes, motorcycle and

Illustration of four brokers in suits racing each other
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Ontario brokers’ biggest source of competition

June 22, 2023 by Alyssa DiSabatino

Although 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

Many hands putting together a jigsaw puzzle
News BrokersInsurersManagementMergers and AqcuisitionsOntario

Why consolidation slows down service levels

June 21, 2023 by Alyssa DiSabatino

Consolidators 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

Runners in starting blocks
News BrokersClaimsEmerging RisksLegalLiabilityOntario

Did the court jump the gun on allowing a negligence claim against a brokerage?

June 16, 2023 by David Gambrill

A 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

Motocross rider in red sportswear raced on dirt track in forest
News ClaimsInsurersLegalOntarioPersonal Auto

Top court rejects Travelers appeal in dirt bike accident benefits case

June 15, 2023 by David Gambrill

It’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

James Gasco
News B.C.BrokersCommercialOntario

Swiss Re Corporate Solutions names new head of Canada

June 13, 2023 by David Gambrill

Swiss 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

Toronto Ontario, Canada- June 26th, 2022: Shoppers Drug Mart employees marching with signs during Toronto’s annual Pride parade.
News BrokersClaimsCommercialEmerging RisksInsurersLiabilityLoss ControlOntarioTrending

How Pride Toronto got swept up in entertainment line’s hard market

June 13, 2023 by Alyssa DiSabatino

Pride 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

Contract waiting for a signature
News BrokersCommercialMergers and AqcuisitionsOntarioPersonal AutoPersonal HomeTrusted Advisor

Acquisition broadens NFP’s Ontario base

June 8, 2023 by Philip Porado

NFP 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,”

Girl after shopping discovered the loss of her automobile. Angry woman talking about missing car on phone. Vehicle theft concept
News ClaimsCommercial AutoEmerging RisksInsurersLegalLoss TrendsOntarioPersonal Auto

Auto insurers pay out record amount for auto theft

June 8, 2023 by David Gambrill

Supply 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

Jigsaw puzzle pieces - M&A concept
News AlbertaB.C.InsurersMergers and AqcuisitionsOntario

Westland widens Ontario footprint with new acquisitions

June 7, 2023 by Alyssa DiSabatino

Westland 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

Two groups of employees join together after merger
News BrokersCommercialCommercial AutoMergers and AqcuisitionsOntarioPersonal AutoPersonal HomePropertyTrusted Advisor

BrokerLink buys Burlington brokerage

June 6, 2023 by Philip Porado

For 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),