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Lussier Dale Parizeau continues M&A activity

June 18, 2019 by Jason Contant

Quebec’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

News ClaimsClaims CanadaInsuranceLegal

When ‘residence employee’ is key in home insurance wording

June 3, 2019 by Greg Meckbach

A coverage dispute, arising from severe electric shock injuries to a baby in a rented house, shows disagreement over the exact meaning of “residence employee” in a home insurance policy. Doris Wong and her brother Johnny Wong were sued in

News MGAs

New COO, EVP for Totten

May 28, 2019 by Jason Contant

Paul Meinschenk has joined managing general agency (MGA) Totten Insurance Group as chief operating officer and executive vice president, effective May 31. With 18 years of experience in the insurance industry, Meinschenk was mostly recently vice president of sales and

News Catastrophes

Almost 3,800 businesses in three regions at risk from flooding: StatCan

May 24, 2019 THE CANADIAN PRESS

OTTAWA – Statistics Canada says almost 3,800 business locations were at risk of being affected by spring flooding in three of the hardest hit regions of the country. About 1,500 were potentially affected as of the end of April in

News InsuranceRiskTechnology

New spyware infects phones through missed calls

May 14, 2019 Frank Bajak And Raphael Satter - THE ASSOCIATED PRESS

Spyware crafted by an “advanced cyber actor” infected multiple targeted mobile phones through the popular WhatsApp communications program without any user intervention through in-app voice calls, the company said. The Financial Times identified the actor as Israel’s NSO Group, and

News Claims CanadaRiskTechnology

Canadian companies paying high cybercrime bills

May 13, 2019 by Adam Malik

Malicious insiders and malware attacks are costing Canadian companies. New research from global professional services company Accenture and data protection research firm Ponemon Institute pegged the average cost of cybercrime to a Canadian company at more than $12 million in

News Earnings / RatingsInsurance

How Fairfax’s Allied World acquisition is working out

May 10, 2019 by Greg Meckbach

Old medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based

News Claims CanadaInsuranceMarkets / Coverages

How should employers treat recreational marijuana use?

May 9, 2019 by Jason Contant

Employers should treat marijuana use in the workplace as they would alcohol use, a senior claims professional told Canadian Underwriter Monday. “All of the liability still exists,” said Heather Matthews, senior vice president of Crawford & Company (Canada)’s National Claims

News BrokersInsuranceProfessional Development

How a broker regulator plans to fix “abysmal” licensing exam results

May 8, 2019 by David Gambrill

As brokers across the country report difficulty in finding qualified employees, the situation in Alberta may be compounded by an “abysmal” pass rate on the provincial broker licensing exam. “As it currently stands today, we are at a 36.5% pass

News InsuranceProductsRisk

Why more companies aren’t using alternative risk transfer solutions

April 30, 2019 by Jason Contant

A lack of understanding about alternative risk transfer (ART) solutions, particularly among C-suite executives, remains a major obstacle to their expanded use, according a new report from Marsh and RIMS. Nearly half of C-suite respondents said they don’t understand how

News ClaimsLegal

Supreme Court to consider insurer’s medical examiner defamation suit against lawyer

April 26, 2019 by Greg Meckbach

A $15-million defamation lawsuit by a doctor who examines accident benefits claims on behalf of auto insurers is headed to the Supreme Court of Canada. The top court announced Thursday it will hear an appeal of Platnick v. Bent, released Aug.

News InsuranceRisk

Why moving to the cloud poses a greater security risk

April 24, 2019 by Jason Contant

As businesses increasingly move to the cloud to provide services, their cyber risk is also being greatly heightened, a cyber security professional told Canadian Underwriter recently. Many companies are outsourcing sensitive activities such as human resources or payroll to cloud