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Guy Carpenter names new head of Canadian operations

August 5, 2020 by David Gambrill

Peter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities…

News Insurance

Common mistakes your clients make when they re-open

August 5, 2020 by Adam Malik

A number of legal claims have been filed against employers because they’re not doing what they are supposed to be doing to keep their employees safe during re-opening, a Hub International compliance expert warned. Some of the more common issues…

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

The link between the Edmonton Oilers and Arthur J. Gallagher’s latest acquisition

August 5, 2020 by David Gambrill

Arthur J. Gallagher & Co. has acquired Edmonton, Alta.-based Insight Insurance & Risk Management Ltd., the official insurance brokerage of NHL hockey’s Edmonton Oilers. Founded in 2013 by CEO Alexis Harke, Insight is a retail insurance broker serving clients throughout…

News Insurance

Isaias downgraded from tropical storm as it blows through Quebec

August 5, 2020 by Adam Malik

MONTREAL — Environment Canada says Isaias has been downgraded from a tropical storm, but tens of thousands of people across southern Quebec are still in the dark due to power outages it caused. The agency says maximum sustained winds now…

News Technology

Why regulation holds auto insurers back from using advanced modelling

August 4, 2020 by Greg Meckbach

Auto insurers could potentially use artificial intelligence to improve risk segmentation but some of the newer modelling techniques may not be a good fit with the way rates are currently regulated, a data science expert for one insurer suggests. Ontario’s…

News BrokersMergers and Aqcuisitions

How Aon and Willis are progressing on proposed merger

August 4, 2020 by Greg Meckbach

The acquisition of Willis Towers Watson plc by Aon plc is on track to close in less than a year as Aon officials don’t seem concerned the deal will be blocked by competition regulators. “We are exactly on track with…

News Insurance

How high cat losses could go this year

August 4, 2020 by Adam Malik

Alberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…

News InsuranceRisk

New 250 person public gathering limit fairly low risk: Quebec health official

August 4, 2020 by Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – The decision to allow public gatherings of up to 250 people comes with a relatively low risk of COVID-19 transmission compared to other riskier social activities, Quebec’s public health director said Monday. Dr. Horacio Arruda said there weren’t…

News AdjustersCatastrophesClaimsClaims Canada

Tropical storm Isaias expected to bring heavy rain, wind gusts to eastern Canada

August 4, 2020 by THE CANADIAN PRESS

HALIFAX – A tropical storm that has lashed parts of the eastern United States should be diminished in strength by the time it reaches eastern Canada, the Canadian Hurricane Centre says. Centre forecaster Chris Fogarty said that Isaias was on…

News Claims CanadaInsurance

What the court said when “surface water” appeared in the policy exclusion, but not in the flood endorsement

July 31, 2020 by Greg Meckbach

The Co-operators has to pay a Mississauga banquet hall facility nearly $1 million – about double the amount it originally paid on a sewer backup policy – for losses arising from an historic 2013 rain storm, the Court of Appeal…

News AnnouncementsCatastrophesInsuranceReinsurance

Swiss Re Group books $2.5 billion for pandemic-related losses

July 31, 2020 by David Gambrill

Swiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent…

News CatastrophesClaims

The business line that drove Intact’s profitability in 2020 Q2

July 31, 2020 by Greg Meckbach

If you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in…