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Manitoba
MSA calls for ‘sustainable solution for underinsurance’ in overland flood
June 27, 2017 by Canadian UnderwriterA potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In…
Investment income doubles for Canadian P&C industry: MSA
June 27, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.…
Canadians “greatly overestimate” their financial literacy skills, including those related to auto insurance: survey
June 27, 2017 by Canadian UnderwriterMore than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a…
Officials say damaged rail line to Churchill, Man. could be fixed in two months
June 23, 2017 The Canadian Press (CPSTF)WINNIPEG – Indigenous and municipal leaders from northern Manitoba say a broken rail line to Churchill could be fixed in about two months if governments and the railway owner are willing to spend the money. Chief Betsy Kennedy of the…
Remote Manitoba town reports temporary loss of rail line
June 9, 2017 by Canadian UnderwriterThe Town of Churchill in Manitoba is reporting the “temporary loss of its rail line” into the community from recent flooding. According to a statement from the town released earlier this week, “unprecedented” snowfall in March that resulted in over…
Rebuilding after disasters should stress safer, better, Goodale says
May 11, 2017 Jordan Press - THE CANADIAN PRESSOTTAWA – As the devastating floodwaters recede in Ontario and Quebec, the key to preventing a similar disaster in future is to avoid making the mistakes that led to problems in the first place, says Public Safety Minister Ralph Goodale.…
‘No active deals on the table’ to sell minority interest in SGI Canada
May 7, 2017 by Canadian UnderwriterSaskatchewan has a new law allowing for the sale of up to 49% of crown corporations, but the provincial government will continue to have a monopoly on compulsory auto insurance, a spokesperson for Saskatchewan Government Insurance told Canadian Underwriter Friday.…
Brokerage Andrew Agencies Ltd. purchases Waggoner Insurance of Winnipeg
May 3, 2017 by Canadian UnderwriterVirden, Man.-based multi-line brokerage Andrew Agencies Ltd. has announced the acquisition of Waggoner Insurance effective May 1. Scott Andrew, president and CEO of Andrew Agencies and Ed Waggoner, president and CEO of Waggoner Insurance made the announcement in a press…
CIBC economist tells insurers how investment returns could be affected by ‘things that go Trump in the night’
April 26, 2017 Greg Meckbach, Associate EditorInterest rates in Canada are predicted to stay “very low by historic standards” through the end of 2019, an economist recently told insurance professionals, while a “movement against globalization” is a concern for one of Canada’s largest carriers. Avery Shenfeld,…
Desjardins’ acquisition of Western Financial caused ‘headaches’ for brokers: Baker
April 19, 2017 by Canadian UnderwriterIf Trimont Financial Ltd. acquires Western Financial Group, Desjardins Group officials will have “more time to focus on further integrating State Farm,” MSA Research Inc. suggested in a recent report released Tuesday. “Slowly but surely, the complexion of the industry…
Canadian industry underwriting income down 81% in 2016: MSA
April 18, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released…
Rising ice, flood waters force Manitobans from homes: Canadian Red Cross
April 17, 2017 The Canadian PressTHE PAS, Man. – Rising ice and flood waters have forced hundreds of people from their homes in Manitoba. Jason Small of the Canadian Red Cross says 107 people from the Opaskwayak Cree Nation are being temporarily housed in hotels…