Keyword
Intact
Lower auto claims frequency may not translate into reduced claims severity: Intact CEO
May 13, 2020 by Greg MeckbachIf 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…
What surprises Intact about recent driving habits
May 11, 2020 by Greg MeckbachCanada’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…
How Intact is handling commercial insurance relief measures
May 7, 2020 by Greg MeckbachCanada’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…
Why Intact says most clients have no pandemic business interruption coverage
May 6, 2020 by Greg MeckbachFewer 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…
How Intact views potential acquisitions during pandemic
April 13, 2020 by Greg MeckbachDespite 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,”…
Intact’s take on how COVID-19 could extend the hard market
April 1, 2020 by Greg MeckbachPricing 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…
The pricing relief Intact plans for commercial clients
March 31, 2020 by Greg MeckbachIntact 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…
How Intact will handle claims in an era of social distancing
March 24, 2020 by Adam MalikIntact 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,…
Why the court upheld Intact’s enforcement of a 2-year deadline to rebuild
February 20, 2020 by David GambrillA 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…
Another way to wreck a condo: Water cooler leaks
February 18, 2020 by David GambrillIntact 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…
Why Intact lost this court case over professional fees
February 13, 2020 by Jason ContantIf 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,…
What may happen when Intact’s ROE reaches the mid-teens
February 5, 2020 by David GambrillDon’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…