At just after 10 am on an average Thursday morning, a 20-floor apartment building in downtown Toronto experienced a leak in their riser stack between the 5th and 6th floor. The leak was detected by an IoT sensor system, which…
Are you one of those brokers who’s thinking of changing jobs so that you’re buying commercial insurance instead of selling it? “There is a shortage of supply [of risk managers], so if anybody is looking for a fast way to…
Technology is making it easier for consumers and businesses to move money, but it can also create new liability risks, fraud experts warned Tuesday. “Financial institutions really have to think about their position on liability,” said Jas Anand, senior manager…
Large commercial brokerage BFL Canada announced Tuesday the acquisition of British Columbia-based Summit Insurance Brokers Inc. Summit, based in Prince George, was founded in the late 1990s and brings expertise in industrial, commercial and farm risks to BFL Canada. Summit…
Old medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based…
A lawyer who represented the Insurance Bureau of Canada at the Supreme Court of Canada in impaired driving cases as been appointed to the bench. Stikeman Elliott LLP partner Nicholas McHaffie was named a Federal Court of Canada judge and…
While spring rains and thawing have caused overland flooding of Biblical proportions, drain backups are also the bane of some insurers’ existence. In multi-storey commercial and residential buildings, drain backups are the number one cause of damage, said Adam Bartman,…
Karen Gavan, former CEO of the first Canadian property and casualty insurer to start the demutualization process, is now on the board of directors of HSBC Canada. Gavan (pictured) was CEO of Waterloo, Ont.-based Economical Insurance from 2011 through 2016.…
If your client owns a multi-storey commercial or residential building and installs a system that lets them shut water off immediately if necessary, how easy is it to get a break on insurance? “To the best of our knowledge there…
Global insurance brokerage Hub International announced Monday it has acquired the assets of Saskatchewan brokerage Kelliher Agencies. Headquartered in Kelliher, Sask., the brokerage is a full-service, independent insurance brokerage that provides personal, commercial, farm and specialty products insurance. “Its focus…
BrokerLink has announced the acquisition of two brokerages: the Athabasca, Alta. branch of JDR Insurance and Guelph, Ont.-based Amplex Insurance Brokers Ltd. Both transactions were effective May 1 and terms of the transactions were not disclosed, BrokerLink said in a…
The flooding last year in Grand Forks, B.C. was a prime example of how an insurance broker provides more than just policy advice and advocacy when disaster strikes. A broker could provide money upfront for additional living expenses, emotional support…