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An honest assessment of P&C industry’s diversity

April 26, 2022 by Alyssa DiSabatino

With growing calls for diversity and a shortage of fresh talent, the P&C industry has made some progress by adding more diverse talent to its roster, but industry experts say more can be done to make it truly diverse. Representation,…

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P&C industry’s hottest growth line of the decade

April 26, 2022 by David Gambrill

Canada’s commercial property line has been the P&C industry’s hottest growth area of business over the past decade, according to the Q4-2021 MSA Outlook Quarterly. This might come as a surprise to some, given personal auto insurance accounts for just…

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Investigation launched into email breach at N.L. fuel company North Atlantic

April 26, 2022 by The Canadian Press

JOHN’S, N.L. – A fuel company in Newfoundland and Labrador is investigating after an employee’s email account was breached and information was downloaded from the account. A release from NARL Marketing, which operates the North Atlantic outlets across the province,…

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Partnership approach needed in current cyber risk landscape

April 25, 2022 by Alyssa DiSabatino

As the cyber landscape and ransom attacks evolve, the onus is on insureds to protect themselves just as much as it is on insurers to provide coverage, says a webinar panellist.  “The archaic method of underwriting risk has shifted dramatically…

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Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming…

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How brokers can take back market share from directs

April 25, 2022 by Jason Contant

There’s plenty of opportunity for the broker channel to be able to take back some market share from the direct side and agent side, says Joseph Carnevale, president of the Insurance Brokers Association of Ontario (IBAO). Brokers can gain a…

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Key interest rate could soon go up another half percentage point, central bank says

April 25, 2022 by The Canadian Press

OTTAWA – The governor of the Bank of Canada is signalling Canada’s key interest rate could go up another half percentage point in June to help wrestle inflation under control.   Tiff Macklem is appearing at the House of Commons standing…

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How ESG offers a competitive advantage

April 22, 2022 by Alyssa DiSabatino

Prioritizing environmental, social, and governance (ESG) issues is part of a company’s long-term competitive success, and panellists in a recent webinar shared examples of why.   For example, companies that focus on ESG — and social responsibility in particular —…

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Court ruling expands Northbridge’s pandemic coverage by $300K

April 22, 2022 by David Gambrill

A Toronto daycare with seven locations will have a pandemic coverage sublimit of $50,000 apply to each of its seven locations, thereby costing the insurer Northbridge $350,000, Ontario Appeal Court has decided. Northbridge General Insurance argued the $50,000 pandemic sublimit…

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Broker independence is alive and well: IBAO president

April 22, 2022 by Jason Contant

Insurance Brokers Association of Ontario (IBAO) president Joseph Carnevale is not concerned about a brokerage’s ownership structure, since he sees it playing no part in whether or not brokers are “trusted advisors” to clients. “Every broker in the country is…

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Bank of Canada governor says he won’t ‘rule anything out’ on rates

April 22, 2022 by Adena Ali - THE CANADIAN PRESS

TORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate…

Melissa Bajwa has been appointed to the RIBO board. News Insurance

RIBO’s newest board member

April 21, 2022 by Jason Contant

Registered Insurance Brokers of Ontario (RIBO) has appointed Melissa Bajwa to its board.  Bajwa is currently the vice president of compliance and broker network operations with PROLINK, one of the largest independent brokerages in Canada. She joined PROLINK in 2016…