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Intact

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Intact predicts two-year hard market in auto

June 17, 2020 by Greg Meckbach

As the number of kilometres driven drops during the pandemic, consumers can expect to get a break on their auto insurance – and expect a hard market to pick up after the pandemic, Intact Financial CEO Charles Brindamour warns. “We

News ClaimsClaims CanadaCommercial LinesInsurance

How much Intact is paying out for commercial COVID claims

June 12, 2020 by Greg Meckbach

Intact Financial Corp. is likely to pay out more than $80 million for commercial claims arising directly from the COVID-19 pandemic, but has only seen a small fraction of that so far, CEO Charles Brindamour said Wednesday. “The total actual

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Why Intact predicts sustained hard market in home insurance

June 5, 2020 by Greg Meckbach

Natural disasters like the recent Fort McMurray flooding will likely continue driving home insurance rates up, suggests Intact Financial Corp. CEO Charles Brindamour. “Personal property is in a relatively hard market environment with mid to upper single digit rates increases.

News Insurance

What Intact’s next acquisition target might look like

May 14, 2020 by Greg Meckbach

Don’t be surprised if you see Intact Financial Corp. announce the acquisition of a United States-based commercial specialty property and casualty insurer in the future. During a fireside chat Wednesday with John Aiken, Toronto-based financial service analyst with Barclays, Intact

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Lower auto claims frequency may not translate into reduced claims severity: Intact CEO

May 13, 2020 by Greg Meckbach

If your auto client base is driving less because of the pandemic, then its claims costs should drop in proportion. Right? Not necesessarily, suggests the head of Canada’s largest auto insurer. Intact Financial Corp. looked at its database of driving

News Insurance

What surprises Intact about recent driving habits

May 11, 2020 by Greg Meckbach

Canada’s largest property and casualty carrier observed a 50% drop after the middle of March in the distance driven by its auto clients, but the insurer’s usage-based telematics data suggest driving has started to pick up in recent weeks at

News Commercial LinesEarnings / RatingsInsurance

How Intact is handling commercial insurance relief measures

May 7, 2020 by Greg Meckbach

Canada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call

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Why Intact says most clients have no pandemic business interruption coverage

May 6, 2020 by Greg Meckbach

Fewer than 1% of the commercial property policies that Intact Financial Corp. writes should incur business interruption claims from the coronavirus pandemic, company officials suggested Wednesday. But the insurer has set aside more than $80 million to account for possible

News InsuranceMergers and Aqcuisitions

How Intact views potential acquisitions during pandemic

April 13, 2020 by Greg Meckbach

Despite the massive disruptions from the COVID-19 pandemic, Intact Financial Corp. is keeping its eye on potential mergers. “We want to make sure we have capital ready to be deployed for growth – both organic and through mergers and acquisitions,”

News Earnings / RatingsInsurance

Intact’s take on how COVID-19 could extend the hard market

April 1, 2020 by Greg Meckbach

Pricing relief offered to Canadians who are currently absorbing a financial hit from the pandemic could ultimately have the boomerang effect of prolonging the hard market, Intact’s chief executive suggests. “It is clear to me that this corrective action [on

News Insurance

The pricing relief Intact plans for commercial clients

March 31, 2020 by Greg Meckbach

Intact Financial Corp. is responding to the COVID-19 pandemic by dropping commercial premiums, in some cases, if it finds the client’s risk has gone down. “We are adjusting risk profiles for customers where it might lead to premium relief,” Intact

News ClaimsInsurance

How Intact will handle claims in an era of social distancing

March 24, 2020 by Adam Malik

Intact is assuring clients and brokers that they are “working around the clock” to keep the claims journey moving forward with as little interruption as possible. “We have mobilized our claims department to be there for our brokers and customers,