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Intact
How Intact responded when asked about Ontario election outcomes
April 2, 2018 by Greg MeckbachOntario 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…
Intact to offer new D&O products for commercial brokers in Canada
March 29, 2018 by Greg MeckbachBrokers 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…
Why Intact is prepared to lose market share in personal auto
March 28, 2018 by Greg MeckbachCanada’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…
Workplace injury could be covered by CGL policy, triggering insurer’s duty to defend: Court
March 19, 2018 by Greg MeckbachIntact 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…
Intact, Fairfax discuss impact of interest rate hike on income
February 27, 2018 by Greg MeckbachWith 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…
Aviva Canada looking into electronic payments standard
February 22, 2018 by Jason ContantAs 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…
Intact sounds alarm on escalating collision repair costs
February 12, 2018 by Greg MeckbachEscalating 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…
Disaster planning: How to get insurance funds to evacuees
February 5, 2018 by David GambrillInsurance 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…
Brokers optimistic after Intact’s new Canadian boss takes the helm, CU poll suggests
January 28, 2018 by David GambrillCanadian 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…
Change course on coverage? Be clear that’s it’s not a settlement.
January 19, 2018 by David GambrillIf 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…
Why a home insurer is paying for a workplace injury
January 12, 2018 by Greg MeckbachIntact 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…
Safety gadgets driving up insurers’ auto repair costs
January 8, 2018 by David GambrillSafety gadgets mounted on today’s slick new vehicles are creating headaches for insurers when it comes to the severity of auto insurance physical damage claims. Why? Because it costs more to repair them when they are damaged in collisions. Mitchell…