Canadian Underwriter

Topic Ontario

Insurance losses going down the drain
News AlbertaB.C.BrokersClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioPersonal AutoPersonal HomeQuebecRisk ManagersTrusted Advisor

How insurers can manage losses as NatCat events ramp up

December 18, 2023 by Philip Porado

Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars

Anne Fortin appointed president of Intact Insurance.
News AlbertaB.C.HRInsurersManagementManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioQuebec

Intact Insurance names president

December 15, 2023 by Jason Contant

Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024.  In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in

Contractor on ladder with cell phone figuring out hail damage repair costs for customer.
News CatastrophesClaimsCommercialConstructionEmerging RisksEnvironmentalInsurersOntarioPersonal HomePropertySaskatchewan

How restoration firms are growing in Canada

December 14, 2023 by Alyssa DiSabatino

With natural disasters on the rise, restoration firms are responding to the growing need through expansions and acquisitions, according to recent announcements.   Intact subsidiary On Side Restoration has acquired Superior Disaster Services Ltd., in a deal that closed Dec.

Tow Truck Driver Hauling a Wrecked Car
News ClaimsClaims ProfessionalsInsurersLegalLicensingOntarioPersonal Auto

Ontario to take over licensing and oversight of tow truck industry

December 12, 2023 by David Gambrill

Ontario is taking tow truck services out of the hands of municipalities and requiring tow truck operators to be certified and adhere to a Code of Conduct. “This marks the end of municipal regulation of towing and storage operators, with

Merger and acquisition business concept
News CommercialCommercial AutoHRInsurersManagementMergers and AqcuisitionsOntarioOperationsPersonal AutoQuebec

MGA acquires Echelon’s surety division

December 11, 2023 by Jason Contant

Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division.  “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,

Pooling water during heavy rain in Montreal in October.
News CatastrophesClaimsClaims Canada ArchiveEnvironmentalOntarioQuebecSaskatchewan

Climate change battering municipal finances across Canada

December 11, 2023 by Thomas MacDonald - THE CANADIAN PRESS

MONTREAL – The hamlet of Gore, Que., had the foresight to start preparing for more intense annual flooding due to climate change a decade ago. That’s when the rural township 60 kilometres northwest of Montreal began quadrupling the size of

Digital puzzle pieces; digital M&A concept
News AlbertaB.C.BrokersCommercialHRManagementMergers and AqcuisitionsMGAsOntarioOperationsPersonal AutoPersonal HomeTechnology

Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.

Seismograph Recording an Earthquake Activity on Grid Paper
News B.C.CatastrophesClaimsCommercialInsurersOntarioPersonal HomePropertyQuebec

Where the feds stand with an earthquake backstop

December 7, 2023 by David Gambrill

Canada’s federal government is aware of the need for a government financial backstop for earthquake losses, but the question is, will an earthquake happen before then? Panellists at Canadian Underwriter’s 2024 Economic Outlook webinar Nov. 27 were asked if there

Business leader press a mergers and acquisitions holographic button
News CommercialHRManagementMergers and AqcuisitionsMGAsOntarioOperations

U.S.-based insurance provider to acquire Sutton Special Risk

December 6, 2023 by Jason Contant

New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates

Picking the lock of a car
News ClaimsClaims Canada ArchiveInsurersLegalLoss ControlLoss TrendsOntarioPersonal AutoTechnology

Police, insurers collaborate to dismantle auto theft ring

November 30, 2023 by Jason Contant

Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday.  As part of the investigation dubbed Project

Man with injured wrist and a policy on the desk across from another man
News InsurersLegalOntarioPersonal Auto

Psychologist fined over accident benefits statements

November 29, 2023 by Alyssa DiSabatino

An Ontario registered psychologist has been fined $15,000 and suspended from practice for a total of 24 months after a regulator found he made misleading accident benefits statements to insurers.  The Financial Services Regulatory Authority of Ontario (FSRA) has imposed

auto and handcuffs on shiny background.
News ClaimsCommercial AutoInsurersLegalOntarioPersonal Auto

How auto insurers responded to Ontario’s auto fraud announcement

November 24, 2023 by David Gambrill

Ontario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in history when Canada’s insurers paid over $1 billion in claims