Canadian Underwriter

Keyword
Intact


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

News ClaimsClaims CanadaLegal

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,

News Commercial LinesInsuranceLegal

Why the court upheld Intact’s enforcement of a 2-year deadline to rebuild

February 20, 2020 by David Gambrill

A company that had its commercial building destroyed in a 2011 fire is not entitled to a $3-million payment from Intact Insurance to replace the building, because the company did not rebuild within the two-year time limit specified in a

News ClaimsInsuranceLegal

Another way to wreck a condo: Water cooler leaks

February 18, 2020 by David Gambrill

Intact Insurance recently lost a subrogation case in B.C.’s small claims court because it couldn’t prove a cracked water bottle was the source of a water leak that caused $5,000 damage to the condo unit below. One moral of the

News ClaimsInsuranceLegal

Why Intact lost this court case over professional fees

February 13, 2020 by Jason Contant

If your client wants to be covered under a professional fees endorsement, must these fees be required by the insurer? The question was put to the Ontario Superior Court of Justice recently. Ontario Superior Court Justice David Edwards found that,

News Earnings / RatingsInsurance

What may happen when Intact’s ROE reaches the mid-teens

February 5, 2020 by David Gambrill

Don’t expect in 2020 to see the Canadian P&C industry’s return on equity (ROE) rise to the level of the 10%, which is one possible indicator that the hard market may be ending, according to Intact president and CEO Charles

News InsuranceMarkets / Coverages

Intact CEO forecasts how high industry auto rates may increase in 2020

February 5, 2020 by David Gambrill

Intact projects that Canada’s property and casualty industry will be asking for average auto insurance rate increases on the order of 7% over the upcoming 12 months. Intact itself is expected to ask for more auto rate during the next