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Economical rolls out Vyne for brokers in select areas

June 4, 2018 by Jason Contant

Economical Insurance launched its new broker technology, Vyne, in New Brunswick and Prince Edward Island Monday. For use in personal lines and individually rated commercial auto (IRCA), Vyne is a Guidewire-based computer system aimed at streamlining workflows for brokers. The

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Loblaw to keep operating PC Financial home & auto brokerage after ending banking relationship with CIBC

August 17, 2017 by Canadian Underwriter

PC Financial Insurance Broker Inc. – which places home and auto insurance in Ontario, Alberta and Atlantic Canada – will continue to be owned and operated by grocery and drug retailer Loblaw Companies Ltd., a PC Financial spokesperson told Canadian Underwriter Wednesday.
President’s Choice Bank, a Loblaw unit, announced Wednesday it has ended its 20-year relationship with the Canadian Imperial Bank of Commerce.
“Everyday banking products, including savings, chequing and mortgage accounts, previously offered under the President’s Choice Financial brand will continue to be provided by CIBC, under new branding…

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

TSB urges fishing industry to recognize ‘interdependency among safety issues’

August 11, 2017 by Canadian Underwriter

The frequency of fatal accidents involving Canadian fishing vessels is too high and crew members will continue to be at risk until “the complex relationship and interdependency among safety issues is recognized and addressed,” the Transportation Safety Board of Canada

News Earnings / RatingsInsuranceMergers and AqcuisitionsProfessional DevelopmentReinsurance

Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News CatastrophesInsuranceMergers and Aqcuisitions

Aon unit pegs economic loss from Matthew at US$15 billion

April 24, 2017 by Canadian Underwriter

Hurricane Matthew, which is estimated to have caused $150 million in economic losses in Canada alone and killed more than 600 in the Western hemisphere, set several records, Impact Forecasting LLC said in a report released Monday. Hurricane Matthew officially

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Massive storm continues slow march east after paralyzing Maritimes

February 14, 2017 Alison Auld and Michael MacDonald - THE CANADIAN PRESS

HALIFAX – Parts of Atlantic Canada remained under a blizzard warning Tuesday after a massive storm descended on the region, dumping a thick blanket of snow and unleashing howling winds before marching off to Newfoundland. Environment Canada issued the warnings

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Tough slogging expected across Atlantic Canada in wake of major storm

February 10, 2017 The Canadian Press

Schools were closed and travel hampered in much of Atlantic Canada on Friday due to a fast-moving and powerful winter storm that blew in from the United States on Thursday night. Environment Canada had issued multiple snow, storm surge and

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Hurricane Matthew causes up to US$15 billion impact to U.S. and Caribbean economies in October: Aon Benfield

November 9, 2016 by Canadian Underwriter

Hurricane Matthew, which swept through parts of the Caribbean and United States last month, is expected to cost up to US$15 billion to both economies, according to Aon Benfield’s latest Global Catastrophe Recap. Released on Wednesday, the report from Aon

News CatastrophesInsuranceMergers and Aqcuisitions

Massive fire destroys farm equipment dealership, forces evacuation in P.E.I.

August 29, 2016 The Canadian Press

SUMMERSIDE, P.E.I. – Fire officials are trying to determine the cause of a massive fire that destroyed a farm equipment dealership in Prince Edward Island. Workers had to be evacuated from Green Diamond Equipment in Summerside late Saturday morning as