Canadian Underwriter

Keyword
Economical Insurance


News InsuranceMergers and Aqcuisitions

Economical Insurance to acquire largest pet insurer in Canada

May 18, 2016 by Canadian Underwriter

Economical Mutual Insurance Company has announced that it will acquire Petsecure, the largest pet insurer in Canada. Economical announced on Wednesday its intention to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Company (WFIC) and its flagship brand Petsecure.

News CatastrophesEarnings / RatingsMergers and Aqcuisitions

Economical Insurance initially estimates $35 million to $45 million in losses from Fort McMurray wildfire

May 11, 2016 by Canadian Underwriter

Economical Insurance estimates its pre-tax losses related to the Fort McMurray wildfire will be $35 million to $45 million, net of reinsurance recoveries and reinstatement premiums. Economical Insurance said in a statement on Wednesday that its catastrophe reinsurance coverage commences

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Economical Insurance combined ratio down 4.6 points in first quarter of 2016

May 10, 2016 by Canadian Underwriter

Economical Insurance has reported a combined ratio of 101.1% in the first quarter of 2016 ending March 31, down 4.6 percentage points from the Q1 2015 combined ratio of 105.7%. Waterloo, Ont.-based Economical Insurance’s gross written premiums were up by

News InsuranceMergers and AqcuisitionsTechnology

Economical Insurance activates multi-channel distribution with launch of direct channel

May 9, 2016 by Angela Stelmakowich

Economical Insurance’s new direct channel – part of an updated corporate strategy to position the company as among the top property and casualty insurers in the country – went live Monday morning. Economical Insurance has activated multi-channel distribution with the

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and Aqcuisitions

Fort McMurray wildfire could hurt 2016 Q2 results for some Canadian p&c insurers, companies offering help

May 9, 2016 by Angela Stelmakowich

Credit rating agency Moody’s does not anticipate the massive wildfire in and around Fort McMurray will be a credit event for Canada’s property and casualty industry, but is likely to have an impact on 2016 Q2 results for property insurers.

News CatastrophesInsuranceMergers and Aqcuisitions

An estimated 90% of homes in Fort McMurray, Alta. neighbourhood lost in wildfire

May 4, 2016 by Canadian Underwriter

An estimated 90% of the homes in the Waterways neighbourhood of Fort McMurray, Alta. have been lost as a major wildfire continues to sweep through the town. The Regional Municipality of Wood Buffalo said in a media briefing on Wednesday

News InsuranceLegalLegislation / RegulationMarkets / Coverages

Launch into direct-to-consumer market expected soon, demutualization packages being mailed: Economical Insurance

May 4, 2016 by Canadian Underwriter

Economical Insurance’s “journey towards becoming a strong, Canadian, independent public company is now well under way,” a leg of which will include a strategic expansion into the direct-to-consumer market, president and CEO Karen Gavan said during the mutual’s Annual General

Image 2 - 100-year flood footprint for Alberta
News CatastrophesInsuranceMergers and Aqcuisitions

Economical Insurance to launch overland flood coverage in 2016

May 1, 2016 Greg Meckbach, Associate Editor

Economical Insurance of Waterloo, Ont plans to launch a property insurance product that covers overland flooding this year, a company official told industry professionals Friday. “We are really looking forward at Economical to launching our overland flood coverage later this

News CatastrophesInsuranceLegislation / RegulationMergers and Aqcuisitions

‘Fair amount of uncertainty’ of financial impact of Canadian earthquakes: OSFI deputy superintendent

April 14, 2016 Greg Meckbach, Associate Editor

The financial risk  from an earthquake in Quebec is “a lot bigger than maybe people think,” a Munich Re Canada executive suggested Wednesday, while the head of Aon Benfield Canada suggested Canadians on the west coast “may be” underinsured for

Feature LegalMergers and Aqcuisitions

Family Rules

April 1, 2016 Mike Adlem, Chair, Insurance & Professional Liability Practice Group, Gowling WLG (Canada) LLP

The Supreme Court of British Columbia, in reviewing a typical family exclusion contained in homeowner policies, took the rare step of drafting an exclusion that would have been effective in the case at issue. The court’s views and language should be of interest to all underwriters of Canadian homeowner policies.