The key role of risk managers during climate change
June 20, 2019 by Adam MalikFinancial companies, including insurers, are moving positively towards dealing with climate change but more needs to be done – and it will need to be risk managers at the forefront to prepare their companies, according to a new study. The…
Paid Leverage tech and deliver seamless CX
June 20, 2019 Insurance NexusFast, simple and personalized. Those are the demands being placed on Canadian carriers as they strive to meet customer expectations in a digital experience-driven world. It’s no longer enough to set your yardstick by how well (or badly) the competition…
Where Canada’s largest mutual is putting its new Winnipeg headquarters
June 19, 2019 by Greg MeckbachFour years from now, all of Wawanesa Mutual Insurance Company’s Winnipeg workers should be in a new office building. Wawanesa announced June 13 it will have a new North American headquarters at the southwest corner of Carlton Street and Graham…
Lussier Dale Parizeau continues M&A activity
June 18, 2019 by Jason ContantQuebec’s largest brokerage, Lussier Dale Parizeau, has merged with financial services firm Genius Financial Group. André Lussier, president of Lussier Dale Parizeau, announced the merger along with the four partners of Genius Financial Group: Jean-Pierre Gauvreau, Serge Gravel, Éric Émond…
CatIQ acquired by Switzerland-based PERILS
June 17, 2019 by Jason ContantZurich, Switzerland-based PERILS AG announced Monday that it has acquired Catastrophe Indices & Quantification Inc. (CatIQ). Established in 2014, CatIQ is widely recognized as the most reliable source of catastrophe loss and exposure information in Canada. PERILS, a subsidiary of…
Quebec’s third biggest P&C insurer working on merger
June 13, 2019 by Greg MeckbachLa Capitale General Insurance and LEDOR Assurances could combine if a plan announced Wednesday is approved by regulators. The two property and casualty insurers “have embarked on an initiative to amalgamate,” Quebec City-based La Capitale Insurance and Financial Services said…
What is costing Alberta auto insurers the most
June 13, 2019 by Jason ContantThird-party liability coverage continues to be the bane of Alberta auto insurers’ existence, the province’s Automobile Insurance Rate Board (AIRB) revealed in its 2018 annual report. Provincial auto insurers collect 53% of every dollar for third-party liability coverage, but are…
Business optimization is easy. Why isn’t transformation?
June 12, 2019 by Adam MalikFinding ways to save money isn’t how you make meaningful change in your business. It’s about your people and altering the way they think and work in your company. For many industries – and insurance is no exception – that…
Why is New Brunswick’s loss ratio the highest in Canada?
June 12, 2019 by Jason ContantWhat is contributing to New Brunswick’s skyrocketing loss ratio? According to Canadian Underwriter’s 2019 Statistical Issue, the total (direct) loss ratio for the province last year was 100.8%, up 22 points from 78.8% in 2017. This makes it the highest…
Making your mark as a young broker
June 12, 2019 by Adam MalikNetwork, build your brand, develop partnerships and squash procrastination – those are just some of the things young brokers need to do as they move up the ranks. With a room full of young brokers in front of them, expert…
Will a hard market fuel or stall M&A?
June 11, 2019 by Adam MalikMergers and acquisitions during a hard market are likely to play out differently depending on whether you’re looking at things as a broker or a carrier. On one side, a hard market may be the fuel to keep the fire…
Brokerage makes third acquisition in Ontario
June 10, 2019 by Jason ContantAlberta-based brokerage Western Financial Group is continuing its strategic expansion into Ontario with its third brokerage acquisition in the province. High River, Alta-headquartered Western acquired EGM Insurance Group effective May 31, Western said in a press release last week. Based…