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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,…
Wind and snow storm leaves power outages across much of southern B.C.
January 13, 2021 by The Canadian PressVANCOUVER – The latest wicked weather to sweep across southern British Columbia downed trees and power lines in many areas and left thousands in the dark. Environment Canada says wind gusts topped 100 km/h in Victoria and the eastern Fraser…
Opinion: Personal lines cyber insurance a growing need
January 12, 2021 by Jephunneh Lattiboudeaire, CyberscoutWith much focus placed on commercial cyber insurance, not enough attention has been directed to personal customers and making sure they’re protected — and know what to do — when a cyber event hits them. And insurers are the key…
How many people TD says will soon buy insurance online
January 12, 2021 by Adam MalikCanadian customers may have been slower to adopt to digital options when it comes to insurance in the past but one insurer executive expects the tables to turn rather quickly, predicting half of its customers buying insurance online in the…
Opinion: Why you should pursue subrogation more often
January 7, 2021 by Wilfred Tioh, SIAdvisers Consulting & SolutionsThe most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party…
Brokerage M&A off to a strong start in 2021
January 7, 2021 by Jason ContantLarge Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced…
The case for retaining clients instead of finding new ones
January 5, 2021 by Adam MalikThe insurance industry is putting a disproportionate amount of effort in bringing new customers to their business and not investing enough in client retention, which is a far more affordable strategy, says an industry observer. Further plaguing the industry is…