Ontario PCs historically ‘very receptive’ to auto rate reform: Intact CEO
August 9, 2018 by Greg MeckbachOntario’s newly-elected government has been silent on auto insurance reform, but the head of Canada’s largest property and casualty insurance carrier is encouraged by the Progressive Conservative Party’s historical leaning towards loosening rate regulation. The Progressive Conservative Party was returned…
Online sales without broker intervention: Where Wawanesa stands
August 9, 2018 by Jason ContantNow that Wawanesa Mutual Insurance Company will soon be selling exclusively through brokers in Quebec, what does it think about online sales without the intervention of a broker? “I’m not a big fan of quote and buy online, because I…
CNA Canada announces new SVP and CFO
August 8, 2018 by David GambrillCNA Canada has appointed Greg Metcalfe as senior vice president and chief financial officer. In this role, he will be responsible for leading the finance and IT functions for CNA Canada. Metcalfe will report to Nick Creatura, president and CEO…
Canada’s fifth-largest brokerage expands with addition of Paisley-Manor
August 7, 2018 by Jason ContantNational commercial brokerage Navacord Inc. welcomes Toronto-based brokerage Paisley-Manor Insurance Brokers Inc., the third broker partner to join Navacord in 2018. Navacord trades under 10 different broker partner brands throughout Ontario, Alberta and British Columbia. Independent commercial insurance brokerage Paisley-Manor…
Insurance Hunter, Southland among brokers now owned by Hub
August 2, 2018 by Greg MeckbachA Windsor, Ont.-based online brokerage that promises consumers seven quotes in three minutes is one operation now owned by Hub International Ltd. Chicago-based Hub announced Thursday it has acquired the property and casualty business of Cypher Systems Group, the corporate…
Wawanesa to discontinue direct channel, sell exclusively through brokers in Quebec
August 1, 2018 by Jason ContantWawanesa Mutual Insurance Company announced Wednesday that that it will sell its insurance products exclusively through independent Quebec insurance brokers, discontinuing direct sales to customers in the province. With this move, Wawanesa will be selling solely through brokers in all…
Major consolidation this year in reinsurance industry?
July 31, 2018 by Greg MeckbachMergers and acquisitions will likely be a topic of discussion for mid-market reinsurers, executives with a large European reinsurer suggest. Efforts by large reinsurers to improve productivity will put “more pressure” on mid-sized and smaller reinsurers “to have this strategic…
Big Data is bringing credit score issue to the fore
July 29, 2018 by Greg MeckbachAs insurers’ computer databases get exponentially larger, the controversy around the use of credit scores in rating property coverage is getting intense. Customers are asking for “transparency” from insurers on how they price and underwrite insurance, Jean-François Larochelle, director of…
Aviva Canada announces three new executive appointments
July 26, 2018 by Jason ContantAviva Canada reported Thursday that it has added to its executive teams in risk, claims and information technology. Bryant Vernon is the new chief claims officer (CCO), Nicole Brouillard is the chief information officer (CIO) and Michel Dionne is the…
Will telematics make territory-based rating a thing of the past?
July 24, 2018 by Greg MeckbachThe use of telematics in pricing auto insurance is going to become more “prevalent,” and a major property and casualty insurer is trying to use the technology to get a better idea of driver risk, speakers said during a recent…
The new breed of leader
July 23, 2018 by David GambrillA new breed of vulnerable and humble leader – someone who recognizes the importance of personal growth in helping the company to expand the business – is bucking the traditional stereotype of the uber-confident, omniscient CEO who comes to the…
Winter tire claims statistics took biggest insurer by surprise
July 22, 2018 by Greg MeckbachWhen Intact started giving discounts on auto insurance to people with winter tires, the result appeared to be counter-intuitive. Motorists insured by Intact who reported having winter tires installed “were having worse loss ratios” than those driving in the winter…