Keyword
Intact
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…
Intact CEO forecasts how high industry auto rates may increase in 2020
February 5, 2020 by David GambrillIntact 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…
How catastrophes affected Intact’s Q4 numbers
January 9, 2020 by Greg MeckbachIntact Financial Corp. is pegging its catastrophe claims at $115 million for the fourth quarter of 2019 alone, more than double the figure for the same period in 2018. Intact released its $115 million estimated catastrophe loss Tuesday. The company…
Who will be who in the Intact commercial specialty crew
December 17, 2019 by Greg MeckbachIntact Financial Corp. announced Tuesday some key executive appointments in its commercial specialty and managing general agent business. Effective Jan. 1, Carla Smith will be senior vice president of specialty solutions for Intact. Pete Weightman, currently Intact’s senior vice president…
‘Bring it on,’ Intact CEO tells industry disruptors
December 10, 2019 by Greg MeckbachCanada’s largest property and casualty insurer plans to be ready for companies from outside the industry who could disrupt the brokerage side of personal lines insurance. “On the distribution side of things, I think one needs to expect that players…
Intact completes acquisition of The Guarantee
December 3, 2019 by Greg MeckbachThe takeover by Intact Financial Corp. of The Guarantee Company of North America is now complete, Toronto-based Intact announced Monday. “We can now welcome The Guarantee and Frank Cowan employees into the Intact family,” Intact CEO Charles Brindamour said in…
Intact wins priority dispute over rental car coverage in standard auto policy
November 22, 2019 by Jason ContantOntario’s Court of Appeal has upheld a ruling in favour of Intact Insurance Company in a priority dispute over who is afforded coverage when operating a rental vehicle. In a decision released Thursday, the appeal court found that liability coverage…
Why you might be having a hard time finding coverage in liability lines
November 14, 2019 by Greg MeckbachLiability loss inflation may be a new topic of discussion for securities analysts who watch the property and casualty sector, but for Canada’s largest insurer, it’s nothing particularly novel. “There is inflation,” Charles Brindamour, CEO of Intact Financial Corp., observed…
Brokerage acquisitions: What’s really in it for Intact?
November 12, 2019 by Greg MeckbachTaking on potential disruptors and investing in technology are among the reasons Intact Financial Corp. is on a brokerage acquisition spree. “Our view is that scaling up distribution is the best way to fight disruption,” Intact CEO Charles Brindamour said…
Intact’s take on the impact of no-fault auto insurance
November 11, 2019 by Greg MeckbachNo-fault insurance is not a silver bullet that is going to solve the auto liability problem, but it can be helpful to insurers, provided that the coverage is not too generous, suggests the head of Canada’s largest property and casualty…