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…
Why home insurer must cover this killing despite intentional act exclusion
June 18, 2019 Randall Chase - THE ASSOCIATED PRESSDOVER, Del. – An American judge says an insurance company must extend liability coverage to a teenager who was convicted of criminally negligent homicide after a Wilmington, Del. school bathroom attack captured on cellphone video that left a 16-year-old girl…
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…
O’Donovan first woman to lead Aviva board
June 13, 2019 by Adam MalikAnne Marie O’Donovan is taking over as chairwoman of Aviva Canada’s board of directors and its seven regulated subsidiaries – the first female to do so with the company. She has long been recognized as a leader, winning the Women…
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…
CU Total Loss Series: Bending Time
June 13, 2019 David Gambrill, Editor-in-ChiefTotal Loss Series, Part 3: Solutions Imagine Canada’s auto insurance industry saving millions of dollars each year in total loss costs and passing that along to Canadian drivers in the form of premium decreases. And all by simply reducing total…
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…
FSRA takes over Ontario insurance oversight from FSCO
June 11, 2019 by Greg MeckbachOntario’s new property and casualty insurance regulator is up and running. Effective June 8, the Financial Services Regulatory Authority of Ontario (FSRA) took over regulatory duties from both the Financial Services Commission of Ontario (FSCO) and the Deposit Insurance Corporation…
Cause of large B.C. hotel fire still under investigation
June 11, 2019 THE CANADIAN PRESSVICTORIA – Councillors in Victoria are being asked to authorize demolition of what remains of the Plaza Hotel after a fire that burned for four days in the city’s downtown last month. The three-storey, 108-year-old vacant structure had been designated…
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…
Should cyber insurance products become more standardized?
June 10, 2019 by Jason ContantHow far along is the Canadian insurance industry in terms of cyber product standardization? While some of the standard language for base coverage has become more standardized over the years, there is still an overall general lack of standardization. There…