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Fine for broker in business interruption coverage mix-up

July 13, 2018 by David Gambrill

A $500 fine against a Manitoba broker illustrates the importance of documenting conversations with a client when advising on business interruption coverage in a commercial insurance policy. The broker, Edward Tetrault, provided a quote to his commercial business client on

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

How this top-tier Canadian brokerage plans to double its revenue in 5 years

July 11, 2018 by David Gambrill

Navacord Inc., Canada’s fifth-largest insurance brokerage by premium volume, has entered into an agreement that will see a management-led buyout of its minority capital partner, Fairfax Financial Holdings Ltd., with the support of Madison Dearborn Partners (MDP), a leading private

News InsuranceMarkets / Coverages

Aviva combines multiple business segments into one commercial policy

March 6, 2018 by Jason Contant

Aviva Canada has launched a new commercial product that allows a company’s different business operations to be included on one policy. This consolidation is intended to make it easier for brokers to offer limits and extensions for different segments. In

News InsuranceMarkets / CoveragesProfessional Development

Commercial brokers close to “holy grail” of data integration

November 19, 2017 by Canadian Underwriter

Toronto Insurance Conference (TIC), an association of Canadian commercial insurance brokers, is poised to launch a proof of concept leading towards real-time data integration — the “the holy grail” of commercial lines insurance. It’s a big step towards real-time data

News AppointmentsInsuranceMarkets / Coverages

Insurer “redefines” its commercial insurance strategy

November 16, 2017 Jason Contant, Online Editor

Economical Insurance is looking to “redefine” its approach to commercial insurance with a new strategy and structure, the insurer’s manager of public and media relations, Doug Maybee, told Canadian Underwriter on Thursday. “It certainly shows that we are taking steps

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

North American commercial insurance buyers likely to face rate increases in 2018: Willis Towers Watson

November 7, 2017 by Canadian Underwriter

Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3

November 6, 2017 by Canadian Underwriter

The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsurance

Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3

November 3, 2017 by Canadian Underwriter

The B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to

News AnnouncementsAssociationsInsuranceMergers and Aqcuisitions

Archway Insurance joins forces with Jack & Co. Ltd.

November 2, 2017 by Canadian Underwriter

Atlantic Canada’s Archway Insurance is joining forces with Halifax-based Jack & Co. Ltd. and its affiliate, AFC Insurance Services of Cole Harbour, in a move meant to enhance the capabilities and extend the reach for both entities. The intent of

News Earnings / RatingsInsuranceMarkets / Coverages

Reinsurance, commercial risk solutions revenue increases at Aon

November 1, 2017 by Canadian Underwriter

Aon plc reported revenues in commercial risk solutions of $917 million in the three months ending Sept. 30, up 3.7% from $884 million during the same period in 2016, while net income dropped 42%. All figures are in United States

News CatastrophesClaimsInsuranceMergers and AqcuisitionsReinsurance

Insured losses from latest Mexico earthquake not expected to exceed US$1.2 billion: RMS

September 25, 2017 by Canadian Underwriter

Low insurance penetration rates across Mexico, particularly in residential lines, has prompted RMS to issue a preliminary estimate that insured losses from the Puebla earthquake in central Mexico on Sept. 19 will not exceed US$1.2 billion. “This estimate accounts for

News CatastrophesClaimsClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

SGI Canada customers evacuated by Saskatchewan wildfires have mass evacuation coverage

September 5, 2017 by Canadian Underwriter

SGI Canada policyholders in areas affected by the wildfires in northern Saskatchewan will have mass evacuation coverage in place for 30 days and should be assured that personal and commercial property policies will not be cancelled for 30 days in