Canadian Underwriter

Topic Ontario

IBAC president Traci Boland
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New president for national brokers’ association

October 18, 2023 by Alyssa DiSabatino

Traci Boland is the new president of the Insurance Brokers Association of Canada (IBAC). Boland is partner and manager at Ontario West Insurance Brokers and Bill Blaney Insurance Brokers. She holds more than over 20 years’ experience in the industry

Percentage sign with an up and down arrow
News AlbertaClaimsClaims Canada ArchiveInsurersOntarioPersonal Auto

Behind the industry’s ‘modest decline’ in auto premiums

October 17, 2023 by Jason Contant

Canada saw an overall “modest decline” of 3.5% in personal auto insurance premiums last year, AM Best reported during an industry event in Toronto earlier this month. Lower profit margins in Canadian auto insurance are likely to remain under pressure

Driver handing license to police through car window
News BrokersCommercial AutoInsurersOntarioPersonal Auto

Why clients get dropped from their auto policies without knowing

October 17, 2023 by Alyssa DiSabatino

Drivers used to get a reminder in the mail that their license or plate renewal is approaching. But in 2022, the Ontario government stopped mailing out physical notices for expiring licenses.  Some drivers didn’t get the memo.  Mitch Insurance is

Lightning strike during summer storms
News CatastrophesClaimsInsurersLoss TrendsOntario

Summer storms bring Cat damages past $3 billion

October 16, 2023 by Alyssa DiSabatino

A series of summer storms in Ontario caused over $340 million in insured losses, bringing this years’ to date catastrophe losses to over $3 billion, with another calendar quarter left.  Laura Twidle, president and CEO of Catastrophe Indices and Quantification

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News AlbertaBrokersCommercialMergers and AqcuisitionsOntarioPersonal AutoPersonal Home

BrokerLink completes largest Alberta acquisition to date

October 12, 2023 by Jason Contant

BrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s

Smoke from wildfires blankets the skyline in Kingston, Ont.
News CatastrophesClaimsClaims Canada ArchiveEnvironmentalOntarioPersonal Home

Ontario adds $20.5 million in funding to fight wildfires, including for training and drones

October 12, 2023 by The Canadian Press

TIMMINS, Ont. – Ontario’s natural resources and forestry minister says the government will spend an additional $20.5 million over three years to help fight wildfires. Graydon Smith, making an announcement in Timmins, Ont., says this recent fire season has been

Brokerage merger concept
News BrokersCommercialMergers and AqcuisitionsOntarioPersonal AutoPersonal Home

Westland grows with Ontario brokerage acquisition

October 11, 2023 by Jason Contant

Westland has expanded in Ontario with the acquisition of family-owned brokerage David H. Coons Insurance Brokers Ltd. With roots tracing back to 1966, David H. Coons Insurance offers home, auto, commercial and travel insurance from its Burlington, Ont. office. The

Rain flowing into a sewer
News B.C.Emerging RisksEnvironmentalOntarioQuebec

Canadian municipalities looking to become ‘spongier’ to build climate resilience  

October 10, 2023 by Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – From green roofs in Toronto to Vancouver’s rain city strategy, Canadian cities are looking to become “sponges” in order to help mitigate some of the effects of extreme rainfall events.   In Montreal, Mayor Valerie Plante announced last week

New rules coming for insurance industry intermediaries
News BrokersEmerging RisksInsurersLegalLiabilityLicensingOntarioOperationsPersonal AutoTechnology

Is FSRA planning to license aggregators?

October 6, 2023 by Philip Porado

Ontario’s insurance regulator has confirmed it is considering whether or not aggregators need to be licensed. Since August, when Ontario’s financial services regulator issued a report outlining concerns about auto insurers’ compliance with take-all-comers requirements, Canada’s P&C insurance industry has

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News BrokersCommercialEducationOntarioTrendingTrusted Advisor

Why RIBO is updating its entry level broker exam

October 6, 2023 by Alyssa DiSabatino

Registered Insurance Brokers of Ontario (RIBO) is enhancing the standards for becoming a licensed insurance broker in Ontario by making changes to its entry-level exam. The move is part of the regulator’s ongoing efforts to ensure new brokers better understand

Surety bond
News B.C.ClaimsClaims Canada ArchiveOntarioPersonal Home

New Aviva Canada partnership targets rent deposits

October 5, 2023 by Jason Contant

Aviva Canada has partnered with technology company RentHaven Inc. to offer tenants a product that provides an alternative to large upfront security and last month’s rent deposits through a surety bond. Underwritten by Aviva Insurance Company of Canada, the surety

Stylish micro apartment for one
News ClaimsClaims Canada ArchiveOntarioPersonal Home

Are your tenant insurance clients fully covered?

September 29, 2023 by Jason Contant

Tenant insurance premiums in Ontario rose nearly 9% year-over-year, according to a recent blog from rate aggregator LowestRates.ca. Even though tenant insurance is one of the most cost-friendly coverages available, many renters take out the minimum coverage of $30,000 for