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Auto parts titan nominated to Intact’s board of directors

April 5, 2018 by Greg Meckbach

An engineer with “extensive mergers and acquisitions experience” is up for election to Intact Financial Corp.’s board of directors, the property and casualty insurer announced recently. William Young, chairman of the board of Aurora, Ont.-based auto parts maker Magna International

News Insurance

How Intact responded when asked about Ontario election outcomes

April 2, 2018 by Greg Meckbach

Ontario auto insurers face “a wide range of outcomes” with an election scheduled this June, says the head of Canada’s largest property and casualty insurer. The worst case scenario would see a political climate ill-suited to writing auto insurance in

News InsuranceMarkets / CoveragesProducts

Intact to offer new D&O products for commercial brokers in Canada

March 29, 2018 by Greg Meckbach

Brokers placing directors and officers (D&O) liability insurance can expect “more new products” this spring from Intact Insurance, given the company’s acquisition of OneBeacon Insurance Group Ltd. in September 2017, an official said Monday. Speaking during Intact’s Investor Day, Mike

News InsuranceMarkets / Coverages

Why Intact is prepared to lose market share in personal auto

March 28, 2018 by Greg Meckbach

Canada’s largest property and casualty insurer is prepared to lose market share on auto in order to improve its bottom line, company officials said Monday. “We have been and continue to be prepared to lose market share in order to

News InsuranceLegislation / Regulation

Workplace injury could be covered by CGL policy, triggering insurer’s duty to defend: Court

March 19, 2018 by Greg Meckbach

Intact has a duty to defend a lawsuit arising from a workplace injury under a commercial general liability policy, the Alberta Court of Appeal ruled. Normally workplace injuries are covered under no-fault provincial workers compensation programs rather than by property

News Earnings / RatingsInsurance

Intact, Fairfax discuss impact of interest rate hike on income

February 27, 2018 by Greg Meckbach

With interest rates at historic lows, Canadian property and casualty insurers rely more on underwriting profits to keep profitable than they have in the past. What difference would a rate hike make to insurers? A one percentage point rise in

News Markets / CoveragesTechnology

Aviva Canada looking into electronic payments standard

February 22, 2018 by Jason Contant

As payment systems continue to modernize globally and locally, one Canadian insurer says it is hoping to explore opportunities related to its payment infrastructure. While it is not currently using ISO 20022, an international standard that supports electronic payments, Aviva

News InsuranceMarkets / CoveragesTechnology

Intact sounds alarm on escalating collision repair costs

February 12, 2018 by Greg Meckbach

Escalating collision repair costs have commended the attention of Intact Insurance, as company officials continue to express disappointment with the Toronto-based insurer’s financial results in personal auto. Company officials said they had “unsatisfactory” performance in personal auto, with the chief

News CatastrophesClaimsInsurance

Disaster planning: How to get insurance funds to evacuees

February 5, 2018 by David Gambrill

Insurance professionals should be planning in advance how they will get emergency funds into the hands of their insured clients during a natural catastrophe, a senior Intact Insurance executive told the C4 2018 conference in Ottawa Friday. Finding alternative ways

News AppointmentsInsuranceMarkets / Coverages

Brokers optimistic after Intact’s new Canadian boss takes the helm, CU poll suggests

January 28, 2018 by David Gambrill

Canadian brokers are optimistic about recent leadership changes at Intact Insurance, their faith based on the new president’s past connections with the broker channel, a Canadian Underwriter poll reveals. Louis Gagnon, Intact’s new president of Canadian operations, is a prominent

News InsuranceLegalMarkets / Coverages

Change course on coverage? Be clear that’s it’s not a settlement.

January 19, 2018 by David Gambrill

If an insurer changes course midway through a claim — offering coverage, for example, when that coverage was previously denied — it will need to clarify that its change of position does not constitute an offer to settle before taking

News InsuranceLegalMarkets / Coverages

Why a home insurer is paying for a workplace injury

January 12, 2018 by Greg Meckbach

Intact is on the hook for legal costs to settle a personal injury lawsuit against a business executive whose friend was injured at a workplace after hours. Intact provided liability coverage under a homeowner policy. The company unsuccessfully argued before