Retirement: How “Freedom 55” may become “Freedom 65+”
May 30, 2019 by Adam MalikThe Canadian Institute of Actuaries (CIA) wants to talk about delaying the traditional retirement age to beyond 65. Many are already choosing to work beyond age 65 anyway, said John Dark, CIA president. “It makes sense to update our country’s…
New COO, EVP for Totten
May 28, 2019 by Jason ContantPaul 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…
Calgary house explosion believed not accidental
May 28, 2019 THE CANADIAN PRESSCALGARY – Documents show that a Calgary house where there was a deadly explosion over the weekend was owned by a couple going through a divorce. Police responded to reports of an explosion on Saturday afternoon and found two people…
This ‘leading practitioner’ in insurance law is now a judge
May 27, 2019 by Greg MeckbachCORRECTION NOTICE: In an earlier version of this story, Glen L.C. Noel was incorrectly identified as a lawyer representing Lloyd’s in Lawlor v. Royal. In fact, Noel represented Mary Lawlor in that case. Canadian Underwriter regrets the error. Glen L.C.…
What you will be insuring in 10 years (hint: not so much auto)
May 27, 2019 by Adam MalikExpect to write less auto coverage with the rise of autonomous vehicles in 10 years’ time, and more coverage related to climate change, property lines, and emerging risks. Thanks to the progress expected of autonomous vehicles, auto insurance will plateau,…
How this province is tackling inconsistent adjuster licensing
May 24, 2019 by Jason ContantWill there soon be a consistent approach to adjuster licensing across Canada? New Brunswick is one province moving towards that goal. Earlier this month, the Insurance Division of New Brunswick’s Financial and Consumer Services Commission released a consultation paper on…
This restoration contracting acquisition should close by summer
May 24, 2019 by Greg MeckbachFirstOnSite and Paul Davis will have the same corporate owner if a deal announced Thursday goes through but will operate separately from one another. FirstOnSite Restoration Limited announced May 23 that its corporate parent, Global Restoration Holdings LLC, agreed to…
How Chuckegg Creek Wildfire could affect Canadian insurers
May 23, 2019 by Greg MeckbachThe wildfire affecting northern Alberta is much larger than the one that devastated Slave Lake in 2011 but property losses seemed minimal on Thursday afternoon. “At this point we are hearing there are no major structures that have been lost,”…
Why your clients may not be covered when there’s an active wildfire
May 21, 2019 by Jason ContantWith wildfire season already underway in Alberta and British Columbia, brokers will be looking at how insurance can help their clients mitigate any losses. But brokers and clients alike may not know that the ability to bind coverage could be…
Fairfax chief financial officer died suddenly
May 21, 2019 by Greg MeckbachDavid Bonham, chief financial officer of Fairfax Financial Holdings Ltd., died suddenly this past weekend, the Toronto-based company announced Tuesday. Fairfax is the corporate owner of Northbridge Insurance and several international property and casualty insurers, including OdysseyRe, Brit PLC, Allied…
Paid IoT Solutions and Claims Reductions
May 17, 2019 Eddy SolutionsAt just after 10 am on an average Thursday morning, a 20-floor apartment building in downtown Toronto experienced a leak in their riser stack between the 5th and 6th floor. The leak was detected by an IoT sensor system, which…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…