The Hartford has signed an agreement to acquire specialty insurer The Navigators Group Inc. for US$2.1 billion in cash. The transaction has been approved by the boards of directors of both companies and is subject to approval by Navigators’ shareholders…
Major infractions committed by Quebec insurance brokers include acting dishonestly, negligently, or not acting with competence and professional integrity, says the disciplinary committee of the Chambre de l’assurance de dommages (ChAD), the province’s self-regulatory body for brokers, agents and claims adjusters.…
Global insurance brokerage Hub International announced Wednesday that it has launched cannabis insurance and risk services for the Canadian market. The offering, under Hub’s agribusiness and farm specialty practice, is also available in the United States. It provides medical and…
Despite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce…
TORONTO – Recreational cannabis will be sold online in Ontario when legalized this fall and in private retail stores across the province early next year, the government announced Monday, reversing the previous administration’s plan to distribute cannabis through publicly owned…
Reducing the workload for human beings is one reason some insurance carriers are participating in part of the Insurance Brokers Association of Canada’s Data Exchange project. “We are constantly looking for ways to eliminate manual processes, to eliminate administrative functions,…
Now that Wawanesa Mutual Insurance Company will soon be selling exclusively through brokers in Quebec, what does it think about online sales without the intervention of a broker? “I’m not a big fan of quote and buy online, because I…
National commercial brokerage Navacord Inc. welcomes Toronto-based brokerage Paisley-Manor Insurance Brokers Inc., the third broker partner to join Navacord in 2018. Navacord trades under 10 different broker partner brands throughout Ontario, Alberta and British Columbia. Independent commercial insurance brokerage Paisley-Manor…
Intact Insurance will be soon launching a new iteration of its usage-based auto insurance (UBI), a company official says. The revelation came during a July 31, 2018 conference call about the insurer’s past quarter results. During the call, an investment…
Although Ontario’s new Progressive Conservative government has not publicly disclosed its plans for auto insurance reform, the industry’s trade association has some thoughts on where it should go. Pete Karageorgos, director of consumer and industry relations with Insurance Bureau of…
Aviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm…
Milwaukee-based insurtech company TechCanary has incorporated in Canada, with headquarters in Laval, Que. and an eye to opening another office in Toronto. TechCanary CEO and co-founder Reid Holzworth told Canadian Underwriter Tuesday that “it’s not planned yet, but we’ll open…