Brokerage makes third acquisition in Ontario
June 10, 2019 by Jason ContantAlberta-based brokerage Western Financial Group is continuing its strategic expansion into Ontario with its third brokerage acquisition in the province. High River, Alta-headquartered Western acquired EGM Insurance Group effective May 31, Western said in a press release last week. Based…
Should cyber insurance products become more standardized?
June 10, 2019 by Jason ContantHow far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There…
Sexual abuse class-action against Montreal oratory can proceed
June 7, 2019 by Greg MeckbachIf you provide commercial liability coverage for religious organizations, you might want to check Friday’s Supreme Court of Canada’s decision in L’Oratoire Saint-Joseph du Mont-Royal v. J.J. The decision paves the way for a class action lawsuit against Montreal’s St.…
Aviva Canada names new CEO
June 7, 2019 by Jason ContantJason Storah will become the new CEO of Aviva Canada on July 1, the company announced Friday. Colm Holmes, who took the helm as CEO of Aviva Canada in March 2018, will return to London, U.K., where he will assume…
Is your client covered from business interruption arising from terrorism?
June 6, 2019 by Greg MeckbachWhat if a terrorist attack interrupts your client’s business, but causes no actual injuries or damage to that client? Some insurers today are covering non-damage costs and loss of attraction. This could come into play if there is a terrorist…
Large commercial brokerage expands presence in benefits space
June 6, 2019 by Jason ContantYet another commercial brokerage has expanded its presence in the benefits space in Canada. Toronto-headquartered Navacord Corp. announced Tuesday the acquisition of Toronto-based Future Benefits Management Inc. (FBMI), effective June 3. Founded in 1995 and exclusively focused on group benefits,…
How the EU’s data privacy law will apply to your Canadian clients
June 5, 2019 by Greg MeckbachThe European Union’s new data privacy law can affect your clients even if they don’t have offices in Europe, a cyber security expert with one of the world’s biggest brokerages warns. The General Data Protection Regulation (GDPR), which took effect…
5 questions to answer before transforming your business
June 5, 2019 by Adam MalikSo you want to change the way you do business. Great. But before you start turning things upside down, ask yourself five key questions to make sure you’re going to do it properly. Transforming business and the culture within it…
Another small-town Saskatchewan brokerage gets bought by large U.S. firm
June 4, 2019 by Greg MeckbachHub International Ltd. has bought its second Saskatchewan property and casualty insurance brokerage in less than a month. Chicago-based Hub said Tuesday it has acquired Kamsack-based Cottenie and Gardner Inc. Kamsack is a town of about 1,800, situated near the…
When ‘residence employee’ is key in home insurance wording
June 3, 2019 by Greg MeckbachA coverage dispute, arising from severe electric shock injuries to a baby in a rented house, shows disagreement over the exact meaning of “residence employee” in a home insurance policy. Doris Wong and her brother Johnny Wong were sued in…
Brokerage fined for rebating premium to unhappy client
June 3, 2019 by David GambrillA Manitoba brokerage recently found itself in hot water with the regulator for rebating premium money to a dissatisfied client. Insurance Council of Manitoba ruled that Donbar Agency Limited, which operates as Crossroads Insurance, should not have rebated an unhappy…
Regulator greenlights Echelon Insurance acquisition
May 31, 2019 by Greg MeckbachA $166-million deal aimed at getting CAA Insurance some new non-standard auto customers is a done deal. CAA Club Group’s acquisition of Echelon Insurance got final regulatory approval, Echelon Financial Holdings Inc. announced Thursday. The deal officially closed on May…