Topic Personal Home
How brokers can help personal cyber go mainstream
February 16, 2021 by Adam MalikAlthough it will take some time, selling personal cyber insurance will come as naturally to brokers as selling home and auto insurance to customers, an expert predicts. Until that happens, however, it’s up to brokers to make sure that personal…
One knock-off effect of rising condo deductibles
February 16, 2021 by Greg MeckbachA large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000…
Brokerage executives to examine COVID impact today and beyond
February 8, 2021 by Adam MalikBrokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as…
Deal Tracker: The latest in brokerage M&A
February 4, 2021 by Jason ContantThe number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had…
Where Canada sits with high-risk flood insurance pool
February 3, 2021 by Greg MeckbachIndustry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation…
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…
Four dead, several injured in three-alarm house fire in Toronto’s east end
January 29, 2021 by Liam Casey and John Chidley-Hill - THE CANADIAN PRESSTORONTO – Four people were killed and several others were injured after flames ripped through an east-end Toronto home early Friday. Toronto’s fire service said six people were taken from the home and two were in hospital. Deborah Bies, who…
Your clients are more willing to share personal data for a better insurance deal
January 26, 2021 by David GambrillConsumers are increasingly willing to share their personal information with their insurers as long as it will help them prevent injury and loss, according to a recent consumer research conducted by Accenture. The caveat here is that consumers don’t trust…
Executive Outlook 2021: Garth Pepper, Liberty Mutual Canada
January 25, 2021 by David GambrillGarth Pepper, President, Liberty Mutual Canada With so many unknowns, especially this year due to the pandemic, focusing on the basics will be more important than ever. Those basics include having underwriters who are accessible, flexible, service-oriented, solution-oriented, and empowered…
This kind of homeowner’s liability claim has real teeth
January 21, 2021 by Greg MeckbachWhen a dog bites man, the wounds could be deep and wide for homeowners. “Pet bites top the list for home insurance liability claims,” reports Dorchester Insurance Brokers Ltd., based near London in the community of Dorchester, Ont. “Dog bites…
Open banking in Canada could help insurers with credit scoring
January 20, 2021 by Greg MeckbachOpen banking could give insurers better data for credit scoring, suggests an official with the organization that handles clearing and settlement for banks in Canada. “I think we will see more accurate underwriting and more accurate credit scoring,” Andrew McFarlane,…
RSA shareholders approve Intact-Tryg takeover
January 18, 2021 by Greg MeckbachIntact Financial Corp.’s proposed takeover of RSA Canada has crossed two additional hurdles. The deal was approved Monday by a majority of shareholders of London-based RSA, Intact said in a release. Canada’s federal competition bureau has also approved the deal,…