Topic Ontario
U.S. wholesale broker expands into Canada with acquisition of SUM
August 11, 2020 by Jason ContantA United States-based national wholesale insurance broker has acquired Strategic Underwriting Managers, Inc. (SUM), a Canadian managing general agency for property, casualty and other specialty insurance products. Boston-headquartered wholesale broker, program manager, and insurance aggregator One80 Intermediaries announced the acquisition…
BrokerLink closes nine brokerage acquisitions across the country
August 11, 2020 by David GambrillBrokerLink announced Tuesday the closing of nine acquisitions to date for 2020, including the acquisition of brokerages in Alberta, Ontario, Nova Scotia and New Brunswick. BrokerLink, a subsidiary of Intact Financial Corporation, continues to look to the future to carry…
More consolidation expected in Ontario cannabis stores
August 11, 2020 by Tara Deschamps - THE CANADIAN PRESSTORONTO – More than a year after winning the chance to open one of Ontario’s first cannabis stores through a provincial lottery, Lisa Bigioni has walked away from her Niagara Falls pot shop. The store had become like a second…
Crane collapses in downtown Toronto again, no serious injuries reported
August 7, 2020 by Adam MalikTORONTO – The mayor of Toronto is calling for a speedy investigation into the cause of a crane collapse in the city’s downtown — the second such incident in less than a month. Toronto Mayor John Tory says that while…
Guy Carpenter names new head of Canadian operations
August 5, 2020 by David GambrillPeter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities…
Why regulation holds auto insurers back from using advanced modelling
August 4, 2020 by Greg MeckbachAuto insurers could potentially use artificial intelligence to improve risk segmentation but some of the newer modelling techniques may not be a good fit with the way rates are currently regulated, a data science expert for one insurer suggests. Ontario’s…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
IBAO updates awards program to salute community leadership during the pandemic
July 30, 2020 by David GambrillShortly after the World Health Organization declared the novel coronavirus to be a global pandemic, when Canadian P&C insurance industry employees first started to work from home remotely to avoid the spread of the virus, Canadian Underwriter asked brokers in…
TD Insurance’s unique defence to BI class action lawsuits
July 30, 2020 by Greg MeckbachA coverage dispute lawsuit filed in Ontario mistakenly alleges that TD General Insurance writes business interruption coverage, the insurer says. A proposed Ontario class action filed July 6 alleges TD and dozens of other insurers are in breach of contract…
New boiler inspection rules coming to Ontario agriculture
July 28, 2020 by Greg MeckbachAn exemption from inspection rules for boilers and pressure vessels in Ontario’s agricultural sector is coming to an end. Starting next year, boilers and pressure vessels will have to get a certificate of inspection from the province’s Technical Standards and…
Insurer working on future pandemic coverage for school boards, post-COVID
July 27, 2020 by Greg MeckbachAs the Ontario government prepares its school re-opening plan, the insurer for the majority of the province’s boards is working on a plan to provide pandemic coverage, albeit for future pandemics and not for COVID-19. Within the next six to…
Multiple townhouse units damaged in Hamilton fire
July 27, 2020 by THE CANADIAN PRESSHAMILTON – Firefighters were called out early this morning to battle a massive wind-whipped blaze in a townhouse complex (pictured, above) in Hamilton, Ont. The Hamilton Fire Department says the multi-alarm inferno erupted in the city’s east side on Edenrock…