Look for consolidation to continue within the Canadian property and casualty insurance industry, senior industry executives predicted at a recent conference. Also, expect insurers to take on a greater role in distributing the products. Speaking about consolidation, Adam Mitchell, the…
The spectre of a Netflix-esque disruption of the property and casualty insurance sector is producing mixed reaction among Canadian executives. The Canadian P&C sector “may be” disrupted in a manner similar to how Netflix disrupted the movie rental industry or…
PC Financial Insurance Broker Inc. – which places home and auto insurance in Ontario, Alberta and Atlantic Canada – will continue to be owned and operated by grocery and drug retailer Loblaw Companies Ltd., a PC Financial spokesperson told Canadian Underwriter Wednesday.
President’s Choice Bank, a Loblaw unit, announced Wednesday it has ended its 20-year relationship with the Canadian Imperial Bank of Commerce.
“Everyday banking products, including savings, chequing and mortgage accounts, previously offered under the President’s Choice Financial brand will continue to be provided by CIBC, under new branding…
It has been more than a year since Ontario changed its criteria for catastrophic impairment and reduced the mandatory coverage for accident benefits, but the “long tail profile” of accident benefits claims means the Ontario reforms “have not fully been…
Nine days after Insurance Corporation of British Columbia released a report it commissioned to Ernst & Young LLP on reforming auto insurance, the chief executive officer of Intact Financial Corp. suggested it is “better to have a competitive marketplace” in…
Intact Financial Corp. reported Tuesday its underwriting income was $103 million during the three months ending June 30, up $87 million from $16 million during the same period in 2016. Toronto-based Intact said direct premiums written rose 2%, from $2.458…
Interest rates in Canada are predicted to stay “very low by historic standards” through the end of 2019, an economist recently told insurance professionals, while a “movement against globalization” is a concern for one of Canada’s largest carriers. Avery Shenfeld,…