Segment
P&C Companies
How Beneva is promoting its direct brand at this Quebec event venue
December 3, 2021 by Greg MeckbachCanada’s largest mutual insurer is promoting its new Beneva direct-to-consumer brand by being a major sponsor of Quebec City’s major junior hockey team and official presenter of the Videotron Centre’s calendar of events. Beneva announced Thursday a partnership with Quebecor…
Why insurance regulators’ council wants to stop best-terms pricing
December 3, 2021 by Greg MeckbachIf you are still placing subscription policies using best-terms pricing, you should stop, the Canadian Council of Insurance regulators suggests. “Fair and transparent pricing is essential to a successful marketplace and CCIR Members expect insurers and brokers to cease BTP…
Saskatchewan spotlights steep distracted-driving fines
December 2, 2021 Canadian Underwriter StaffFive hundred and eighty dollars. And … four demerit points. That’s how much a first offence for using a cell phone while behind the wheel will cost a Saskatchewan driver, Saskatchewan Government Insurance (SGI) said as part of an October…
Investors and insurers examining ESG risks, reports note
December 2, 2021 Canadian Underwriter StaffLike insurers, Canada’s institutional investors are examining how environmental, social and governance (ESG) factors weigh into their operational decisions. A new EY report on global institutional investors that includes Canada showed 74% are more likely to divest from companies with…
Why some insurance professionals are looking forward to back-to-the-office
December 2, 2021 by Jason ContantAnna McCrindell, vice president of commercial insurance with Wawanesa Mutual Insurance Company, likes the energy she gets from heading back into the office. McCrindell said during an Insurance Institute of Ontario webinar Nov. 23 that in her current role, she’s…
QBE names new director of Canada
December 1, 2021 Canadian Underwriter StaffBen Hunter joins QBE in January 2022 as director of Canada. Currently vice president, head of marine, energy, construction & risk services at Liberty Mutual Canada, Hunter’s also held leadership roles at Travelers Canada and Chubb Insurance. In a release,…
How this insurer is calculating rates for Gender X auto clients
November 29, 2021 by Greg MeckbachStarting Wednesday, The Dominion of Canada General Insurance Company will start applying the female rates to Nova Scotia auto clients who identify as Gender X. In a ruling released Nov. 19, the Nova Scotia Utility and Review Board approved The…
B.C. auto claimant wins dispute over ‘declared value’ in total loss
November 26, 2021 by Greg MeckbachThe Insurance Corporation of British Columbia has been ordered to pay an extra $5,000 to a client whose vehicle was badly damaged on a trip from California. In Link v. ICBC, released Nov. 25, the province’s civil resolution tribunal ruled…
Canadian travel insurance quotes surge year-over-year
November 25, 2021 by Jason ContantTravel insurance quotes have surged nearly 300% year-over-year as pandemic restrictions ease and Canadians are eager to travel again, according to a new report from rate comparison site RATESDOTCA. The rate aggregator analyzed data from thousands of quotes from its…
More than half of polled Canadians keep their auto insurer for five years or longer
November 24, 2021 Philip PoradoA whopping 84% of Canadians have stayed with their auto insurer for two or more years and 58% have remained with the same company for more than five years, according to a Ratehub survey. What’s more 23% said they’ve stayed…
What’s the most successful way of seeking new P&C talent?
November 24, 2021 by Jason ContantPersonal referrals were the most successful method for seeking new talent in the property and casualty insurance industry, speakers agreed during an Insurance Institute of Ontario webinar Tuesday. An informal poll of attendees to the webinar asked which recruitment channels…
Economical demutualization complete, IPO raises $1.6 billion
November 24, 2021 by Greg MeckbachEconomical Insurance announced Tuesday it has completed its demutualization, the first property and casualty insurer in Canada to do so. Economical’s corporate parent, Definity Financial Corp., said Tuesday it has raised “aggregate gross proceeds” of about $1.6 billion in an…