Keyword
Intact
Insurance Brokers Association of British Columbia annual conference and trade show, June 14 to 16, 2017
June 14, 2017 by Canadian UnderwriterWhistler provided a spectacular backdrop for the 69th annual Conference & Tradeshow of the Insurance Brokers Association of B.C. Highlights included: a gala dinner capped with a performance by Juno Award-winning R&B group The Philosopher Kings; a keynote presentation on…
Supreme Court of Canada will not hear appeal from insureds seeking replacement cost instead of actual cash value in fire claim
June 2, 2017 by Canadian UnderwriterA disputed property insurance claim arising from a fire in Ottawa, in which the claimants asked for replacement value but the insurer would only pay actual cash value, will not be heard by the Supreme Court of Canada, the court…
Severe wind events drive up Intact’s Q1 loss ratio
May 3, 2017 by Canadian UnderwriterIntact Financial Corp. said Tuesday it is “confident” that the Ontario government will “implement material changes” in auto insurance, while reporting a combined ratio of 98.2% during the first three months of year, up 5.7 points from 92.5% during the…
Intact to acquire U.S. specialty insurer OneBeacon Insurance Group for US$1.7 billion
May 3, 2017 by Canadian UnderwriterIntact Financial Corporation has announced that it intends to acquire OneBeacon Insurance Group, Ltd., a specialty insurer in the United States, for US$1.7 billion. Intact declared on Tuesday that it has entered into a definitive agreement and plan of merger…
Impact of Fort McMurray wildfire softened by reinsurance risk sharing: DBRS
April 26, 2017 by Canadian UnderwriterMost Canadian insurers were able to generate positive underwriting results in Alberta through their use of reinsurance risk sharing following the Fort McMurray wildfire, credit ratings agency DBRS Limited said in a commentary released on Wednesday. The commentary, titled 2016…
Speakers weigh in on contentious topic of insurers with “broker arm interrupters”
March 1, 2017 Jason Contant, Online EditorIf an insurer can offer brokers more products, assistance and their brand is recognized by clients, “there is some value there,” Jeff Roy, CEO of Excalibur Insurance Group, suggested on Wednesday at the Insurance-Canada.ca Broker Forum, held at the Allstream…
Personal lines cat ratio up 9.3 points at Intact due in part to Fort McMurray
February 8, 2017 by Canadian UnderwriterIntact Financial Corp. released Wednesday its financial results for 2016, reporting a 5% increase in direct premiums written and a 40% drop in underwriting income during a year when Canada’s most expensive natural disaster cost the firm $400 million before…
First nine months of 2016 ‘disappointing’ for Canadian P&C industry: Intact president
January 25, 2017 Greg Meckbach, Associate EditorBrokers should expect personal automobile insurance to be “much more difficult” for their carriers, while a new definition of catastrophic impairment in Ontario was the most important change the province made effective June, 2016, the president of Intact Insurance suggested…
New Found Claim
January 2, 2017 Greg Meckbach, Associate EditorAs president of the Canadian Insurance Claims Managers Association, claims specialist Alex Lethbridge wants to raise awareness of the inter-company arbitration agreement.
Testing the Waters
September 3, 2016 Blair Feltmate, Head, Intact Centre on Climate Adaptation, University of WaterlooThe average cost of a basement flood claim in Canada in 2014 was a hefty $20,537. With severe weather continuing, related flooding and the associated costs are sure to continue absent preventive measures being taken. Those measures will be put to the test as part of the first pilot project of the Home Adaptation Assessment Program.