Canadian Underwriter

Keyword
Intact


News Insurance

How possible is a hybrid insurance model for the sharing economy?

August 24, 2020 by Jason Contant

Being able to distinguish between personal and commercial usage is one of the biggest unique differences with underwriting for the sharing economy, but the abundance of data available makes a hybrid insurance model possible, Economical Insurance said recently. “You can

News Insurance

Economical to take over commercial ridesharing insurance coverage from Intact

August 21, 2020 by Jason Contant

Economical Insurance will replace Intact Insurance as the commercial auto insurer for Uber in four Canadian provinces effective Sept. 1. Waterloo, Ont.-based Economical announced Tuesday in a press release the “new and significant relationship with Uber in Canada, designed to

News Reinsurance

Intact’s Brindamour: Why the hard market could last for up to two more years

August 20, 2020 by Greg Meckbach

A hard market in reinsurance is among three main reasons why primary insurance rates will continue to rise for brokers’ clients for at least another year or two, Intact Financial Corp. CEO Charles Brindamour suggests. In a recent virtual fireside

News Brokers

What Intact is telling competitors who distribute through BrokerLink

August 17, 2020 by Greg Meckbach

Intact CEO Charles Brindamour is assuring his competitors that they are not at a competitive disadvantage with Intact should they distribute their insurance through Intact Financial Corp.’s BrokerLink brokerage unit. “Our strategy is not to get the brokerage business to

News CatastrophesClaims

The business line that drove Intact’s profitability in 2020 Q2

July 31, 2020 by Greg Meckbach

If you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in

News Insurance

How much Intact could lose from customers who can’t pay their bills

July 30, 2020 by Greg Meckbach

Intact Financial Corp. took a $34-million charge in bad debt during the three months ending June 30. This does not mean the insurer will be unable to collect that entire amount. The expectation is that this is the amount it

News Insurance

Why Intact is “very confident” about defending pandemic-related BI claims

July 29, 2020 by Greg Meckbach

Two recent American court rulings in favour of insurers in COVID-related business interruption coverage disputes arose from policy wordings nearly identical to the vast majority of Intact Insurance’s BI policies, officials with Canada’s largest P&C insurer said Wednesday. “The language

News Insurance

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

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

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

News AdjustersClaimsClaims Canada

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