Topic P.E.I.
Why many brokers need to change their auto quoting process
July 28, 2021 by Greg MeckbachMany brokerages that use AutoPlus to obtain auto insurance quotes will likely have to change their processes over the next couple of months. AutoPlus’s vendor, CGI Group Inc., will start updating that online database product Aug. 13, says the Insurance…
New name in the works for Echelon’s former corporate owner
July 20, 2021 by Greg MeckbachEFH Holdings Inc., the Mississauga, Ont.-based corporate owner of Insurance Company of Prince Edward Island (ICPEI), is applying to change its name ICPEI Holdings Inc. EFH was known until December 2020 as Echelon Financial, which owned Canadian P&C insurer Echelon…
Former Aviva Canada VP now CEO of TD Insurance
July 7, 2021 by Greg MeckbachJames Russell, a former senior executive with The Dominion of Canada General Insurance Company and Aviva Canada, is now leading The Toronto-Dominion Bank’s property and casualty insurers. Russell’s appointment results from a re-assignment of several TD senior managers. Russell has…
BrokerLink’s take on the surging demand for brokerage M&A
June 30, 2021 by Jason ContantEDITOR’S NOTE: This article has been corrected to show that BrokerLink has over $2 billion of written premiums. A previous version of this article icorrectly stated the Intact subsidiary had more than $2.5 billion in premium overall, about $700 of…
COVID’s effect on Canadian auto and property rates
April 22, 2021 by Jason ContantEndorsements to auto policies as a result of changing driving habits from COVID-19 are resulting in average premium rate renewal decreases across most of the country, according to Applied Systems’ latest rating index report. Personal property rates, on the other…
Why auto rates are increasing despite fewer drivers on the road
March 6, 2021 by Jason ContantAverage auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by…
Why size matters to Western Financial Group
March 4, 2021 by Greg MeckbachSome brokers are entering into mergers or partnerships so they can more easily place hard-to-find coverage, according to one brokerage executive. “We just feel that some brokers who do not necessarily have our volume are struggling to find market support…
How Western Financial made its presence known in Atlantic Canada
March 1, 2021 by Greg MeckbachWestern Financial Group is taking a non-controlling interest in Saint John, N.B.-based Huestis Insurance Group. The exact terms of the deal, announced Feb. 23, were not disclosed, other than it will give the High River, Alta.-based Western Financial a “significant”…
Punishing winter storm belts East Coast with heavy snow and high winds
February 8, 2021 by The Canadian PressHALIFAX – Most of Nova Scotia, Prince Edward Island and Newfoundland are being pounded by heavy snow and high winds Monday, creating whiteout conditions in many areas. The storm moved into the Maritimes overnight heading west to east and is…
Messy winter storm slams into the Maritimes
February 2, 2021 by Michael MacDonald - THE CANADIAN PRESSHALIFAX – A winter storm lashed the Maritimes with strong winds, snow and ice pellets on Tuesday, causing power outages and forcing the closure of schools and businesses. Snowfall and winter storm warnings were issued for much of the region,…
Canadian auto and property insurance rates headed in opposite directions
February 1, 2021 by Jason ContantAverage personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both…
Winter storm churning out powerful winds expected to slam into Atlantic Canada
February 1, 2021 by The Canadian PressEnvironment Canada has issued a series of weather warnings for the Atlantic region, as a winter storm is expected to deliver an ugly mix of snow, rain, ice pellets and strong winds on Tuesday and Wednesday. Snowfall warnings are in…