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Intact’s rationale for buying this bond and marine brokerage

September 16, 2020 by Greg Meckbach

Intact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now

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Why Uber Canada dropped Intact as its insurance provider

September 16, 2020 by Greg Meckbach

Ride sharing firm Uber Canada chose Economical as its insurance provider because Uber would not agree to Intact’s pricing, a senior Intact executive said Tuesday. “We had a very good relationship, we just couldn’t agree on the price,” Intact CFO

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Intact’s Brindamour: Why the hard market could last for up to two more years

August 20, 2020 by Greg Meckbach

A hard market in reinsurance is among three main reasons why primary insurance rates will continue to rise for brokers’ clients for at least another year or two, Intact Financial Corp. CEO Charles Brindamour suggests. In a recent virtual fireside

News Brokers

What Intact is telling competitors who distribute through BrokerLink

August 17, 2020 by Greg Meckbach

Intact CEO Charles Brindamour is assuring his competitors that they are not at a competitive disadvantage with Intact should they distribute their insurance through Intact Financial Corp.’s BrokerLink brokerage unit. “Our strategy is not to get the brokerage business to

News Insurance

How COVID has changed Intact’s digital journey

August 6, 2020 by Greg Meckbach

The COVID-19 pandemic has changed the way Intact Financial Corp. offers digital services and some of these changes could be permanent. Since several provinces imposed lockdown measures in March after the World Health Organization declared COVID-19 a pandemic, Intact has

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The business line that drove Intact’s profitability in 2020 Q2

July 31, 2020 by Greg Meckbach

If you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in

News Insurance

How much Intact could lose from customers who can’t pay their bills

July 30, 2020 by Greg Meckbach

Intact Financial Corp. took a $34-million charge in bad debt during the three months ending June 30. This does not mean the insurer will be unable to collect that entire amount. The expectation is that this is the amount it

News Insurance

Why Intact is “very confident” about defending pandemic-related BI claims

July 29, 2020 by Greg Meckbach

Two recent American court rulings in favour of insurers in COVID-related business interruption coverage disputes arose from policy wordings nearly identical to the vast majority of Intact Insurance’s BI policies, officials with Canada’s largest P&C insurer said Wednesday. “The language

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UPDATED: What emergency relief will insurers offer customers? Here’s what they told us

July 27, 2020 by Adam Malik

Editor’s notes: This story has been updated to include additional information from Travelers. Insurance Bureau of Canada announced that its members are offering reductions in auto insurance premiums for consumers whose driving habits have changed significantly. You can read that

News Insurance

Intact predicts two-year hard market in auto

June 17, 2020 by Greg Meckbach

As the number of kilometres driven drops during the pandemic, consumers can expect to get a break on their auto insurance – and expect a hard market to pick up after the pandemic, Intact Financial CEO Charles Brindamour warns. “We

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How much Intact is paying out for commercial COVID claims

June 12, 2020 by Greg Meckbach

Intact Financial Corp. is likely to pay out more than $80 million for commercial claims arising directly from the COVID-19 pandemic, but has only seen a small fraction of that so far, CEO Charles Brindamour said Wednesday. “The total actual

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Why Intact predicts sustained hard market in home insurance

June 5, 2020 by Greg Meckbach

Natural disasters like the recent Fort McMurray flooding will likely continue driving home insurance rates up, suggests Intact Financial Corp. CEO Charles Brindamour. “Personal property is in a relatively hard market environment with mid to upper single digit rates increases.