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CU Total Loss Series: How to reduce auto total loss cycle times by a week

April 3, 2019 by David Gambrill

Meet Jane Doe, a total loss survivor. The front end of her car was demolished when she tried to turn left at a busy intersection. She was hit by a driver who was talking on his cell phone while running

News InsuranceMarkets / CoveragesRisk

Over half of Ontario cannabis store openings delayed

April 3, 2019 Shawn Jeffords and Armina Ligaya - THE CANADIAN PRESS

Customers lined up at Ontario’s first brick-and-mortar cannabis stores on Monday, but fewer than half of the province’s government-licensed outlets were ready to open. The Progressive Conservative government had planned to have 25 private stores launch on April 1, but

News Markets / Coverages

Could Canada cut interest rates?

April 2, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking

News BrokersInsuranceMergers and Aqcuisitions

Jardine Lloyd Thompson acquired by Marsh & McLennan

April 1, 2019 by Greg Meckbach

Marsh & McLennan Companies Inc.’s acquisition of London, England-based Jardine Lloyd Thompson Group plc is now complete, New York City-based Marsh & McLennan announced Monday. The deal – which could form the world’s largest commercial property and casualty brokerage –

News ClaimsMarkets / Coverages

Auto loss ratios ‘unsustainable’ in these provinces

March 29, 2019 by Greg Meckbach

Ontario auto insurance is profitable but loss ratios are unsustainable in Alberta and two of the Maritime provinces, Canada’s Property and Casualty Insurance Compensation Corporation notes. “Importantly for insurers, Ontario’s private passenger auto insurance market remained profitable with a loss

News Commercial LinesInsurance

What’s holding back Lloyd’s price increases

March 28, 2019 by Greg Meckbach

Property risk could get harder to place in the Lloyd’s market this year. “Difficult decisions regarding existing accounts, or indeed the appropriateness of new accounts, will continue to have to be made during 2019,” the Corporation of Lloyd’s said of

News Insurance

AIG Canada to stop underwriting new individual personal policies

March 28, 2019 by Jason Contant

AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that

News Commercial LinesInsurance

These Lloyd’s syndicates have shut down

March 27, 2019 by Greg Meckbach

Toronto-based Fairfax Financial Holdings is among the insurers who own Lloyd’s syndicates that were shut down at the end of 2018. The Corporation of Lloyd’s released Wednesday a list of the eight syndicates that stopped trading as of Dec. 31.

News InsuranceMarkets / CoveragesRiskTechnology

How sports hazing and abuse affects insurers

March 26, 2019 by Jason Contant

There seems to be no shortage of hazing and abuse incidents in the news lately. Earlier this month, a Miami University student was allegedly hit “with a paddle with spikes and grooves,” forced to drink large amounts of alcohol and

Chris Sekine, Trisura
News Insurance

Trisura Guarantee announces new CEO

March 19, 2019 by David Gambrill

Trisura Guarantee Insurance Company has appointed Chris Sekine as president and CEO. He succeeds Mike George, who will continue to work with Trisura Guarantee on a consulting basis. Sekine has led Trisura Guarantee’s surety group since its inception. He has

News InsuranceMGAs

How this broker is binding Lloyd’s policies online

March 19, 2019 by Greg Meckbach

A Calgary-based Lloyd’s coverholder has re-launched its website to make it easier for brokers to bind policies for special events without having to deal with a lot of paper forms. PAL Insurance Brokers Canada Ltd. has allowed clients to apply

News ClaimsInsurance

Is Aviva-Desjardins fraud collaboration the dawning of a new era?

March 19, 2019 by Jason Contant

Could an insurance fraud collaboration between the second and third largest insurers in Canada herald the beginning of a broader trend across the industry? “Hopefully, this is laying the foundation for great, big things to come,” said Ashish Bhargava, vice