Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in…
During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to delay pursuing claims because they don’t have enough cash on…
In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to…
Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday. As part of the investigation dubbed Project…
An Airbnb renter can be considered an insured under a strata’s insurance policy but may not necessarily rely on other liability protections in a strata’s bylaws, a B.C. Supreme Court justice determined in Strata Plan VR 2213 v Schappert, 2023…
Nicholas Hudescu is a rarity in the insurance industry. The 23-year-old attended Wilfrid Laurier University, earning a Bachelor of Business Administration degree specializing in insurance and risk management. While there, he joined the student-run Laurier Insurance and Risk Association (LIRA)…
Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.…
Rising interest rates are changing the brokerage M&A environment and giving sellers a shorter timeline to produce the projected earnings. And chances are, if they haven’t produced reliable returns already, the buyers may balk on a purchase, said Yan Charbonneau,…