Commercial brokers advising Canadian clients involved in mergers and acquisitions could soon have another market to which they could place transactional risk. The Travelers Companies Inc. announced Jan. 15 it plans to offer transactional risk insurance in the United States.…
Wawanesa’s decision to write insurance in Canada through brokers only came as a shock to some consultants. “If you talk to the consultants down on Adelaide Street [in Toronto] in their big offices, what are they going to tell an…
Unlike Economical Insurance, Canada’s largest mutual insurer plans to stay that way. “Everybody says, ‘Because of what Economical is doing, are you going to demutualize?’ No,” Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance…
Expected weak insurance sector growth in the near-term is fueling the need for efficiency gains through technology and innovation, Ernst & Young Canada said recently. The EY Insurance Outlook 2019 reveals that insurance sector growth is expected to remain weak…
A San Francisco-based firm calling itself a “mobile-first” property and casualty insurance brokerage might start placing home and auto coverage in Canada. Canadian Underwriter asked Karn Saroya, CEO of Cover Financial Inc., whether his insurtech plans to expand into Canada.…
Information technology is one driving force behind mergers and acquisitions involving property and casualty insurance brokerages. Acquiring new products, talent and technology are among the reasons behind M&A activity in P&C insurance, said Georges Pigeon, a Montreal-based partner with KPMG’s…
Brokerages looking to scale their expertise should focus their efforts online, says the CEO of a Vancouver-based company that helps brokers with automation solutions. “Externally, the new standard of engagement is online,” Jeff McCann, CEO of Digital MGA Marketplace Ltd.,…
Nearly two years after David Marshall released his report on Ontario auto insurance reform, there is still no indication on where the government plans to go with it. “We haven’t had a concrete yes or no that they are going…
A B.C. broker repeatedly in hot water for misapplying thousands of dollars worth of insurance premium funds over several years has had his Level 3 licence permanently revoked. In addition, Insurance Council of B.C. fined Antony Ronald Fransen $7,500 personally…
Manitoba Public Insurance (MPI) has released its annual Top 5 list of insurance fraud cases for 2018. The list is compiled based on the unique circumstances of each fraud, financial savings to MPI ratepayer and “investigative excellence in unearthing the…
Reforming auto insurance is top of mind for Jeff Gatcke, the new president of the Insurance Brokers Association of Ontario. “Our Number 1 priority would be working with insurance companies and the government on changes to the auto insurance product…
McDougall Insurance Brokers of Belleville, Ont. announced Tuesday it has merged with Barrie-based Dusome Insurance Brokers. The combined firm has 34 offices, including Kingston, Peterborough, Deep River, Pembroke, Orillia, Trenton, Cornwall and Oshawa. Dusome’s 11 employees will join McDougall as…