Fairfax chief financial officer died suddenly
May 21, 2019 by Greg MeckbachDavid Bonham, chief financial officer of Fairfax Financial Holdings Ltd., died suddenly this past weekend, the Toronto-based company announced Tuesday. Fairfax is the corporate owner of Northbridge Insurance and several international property and casualty insurers, including OdysseyRe, Brit PLC, Allied…
Brokers await regulations on bank fintech changes
May 17, 2019 by Jason ContantAs the federal government drafts regulations related to recent Bank Act amendments, the Insurance Brokers Association of Canada (IBAC) is confident that the fundamental aspects of their position have been upheld. Bill C-74, which received royal assent in June 2018,…
Job hunters are changing the rules around work
May 17, 2019 by Adam MalikEmployers are being expected to offer flexible working options. And job seekers are more than happy to turn down an offer if they aren’t included. IWG, which operates virtual offices around the world, recently released its annual global study which…
How this property restoration firm got in and out of trouble
May 17, 2019 by Greg MeckbachA restoration contractor whose employee drove a company vehicle with a suspended licence is getting its truck back from police impoundment. A man identified as “C.S.” was pulled over in Barrie late Friday evening March 15 while driving a 2017…
Paid IoT Solutions and Claims Reductions
May 17, 2019 Eddy SolutionsAt 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…
How career prospects are looking in risk management
May 16, 2019 by Greg MeckbachAre 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…
How Intact lost this battle over vehicle storage fees
May 16, 2019 by Greg MeckbachCanada’s largest P&C insurer has suffered a setback in its quest to minimize vehicle storage fees. A recent Ontario court ruling means that, for the time being, Intact Insurance has to pay J.P. Towing Service & Storage Limited storage fees…
Allstate Canada debuts telematics app
May 16, 2019 by Jason ContantAllstate Insurance Company of Canada has joined the ranks of insurers providing telematics apps. Allstate Canada said Monday it has debuted a “personalized app for the modern driver” as National Road Safety Week (May 14-20) kicks off in Canada. Several other…
Making auto reform happen
May 16, 2019 by Adam MalikInsurance reform is long overdue, says the head of a medical evaluation company. Don Kunkel, president of Ontario-based AssessMed, which operates in eight provinces, says previous efforts to reform auto insurance have produced results that have been less than desired.…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…
What insurance companies can do to help police
May 15, 2019 by Adam MalikOttawa police laid more charges related to a busted a car theft ring that saw 50 vehicles stolen and totalled $2.5 million in value. It’s a case in which the Insurance Bureau of Canada (IBC) played a key role in…
BFL Canada acquires B.C. brokerage
May 15, 2019 by Jason ContantLarge 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…