Canada’s largest P&C insurers growing larger: AM Best
September 12, 2022 by Jason ContantCanada’s Top 10 property and casualty insurers control almost three-quarters of the marketplace, with the remaining participants competing for the balance of available premium, ratings agency AM Best said during an industry event Friday. The Top 10 P&C carriers control…
How far Intact’s specialty reach has expanded
February 15, 2022 by Jason ContantIntact Financial Corporation CEO Charles Brindamour says Canada’s largest P&C insurer has established a “truly global platform” that can now reach 70% of the global specialty solutions market with the expertise it has on board. “The thing that I like…
Why Intact beat its own expectations in recent quarters
February 9, 2022 by Jason ContantIntact Financial Corporation expects its combined ratio to marginally improve in Canada as it continues to beat its own financial result expectations, the insurer’s chief financial officer says during an earnings call. Canada’s largest insurer saw operating direct premiums written…
How Intact is faring with the RSA integration
February 3, 2022 by Jason ContantIntact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation…
Supreme Court of Canada rules against BC trial lawyers in disputed subrogated Ontario auto claim
November 18, 2021 by Greg MeckbachIf the Trial Lawyers Association of British Columbia had its way, auto insurers would have an incentive to go the “extra mile” in trying to find reasons to deny claims, two Supreme Court of Canada judges suggested in a decision…
Biggest insurers will soon control more of the market: A.M. Best
September 16, 2021 by Greg MeckbachCanada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…
Thompson leaving RSA Canada following Intact acquisition
June 1, 2021 by Greg MeckbachRSA Canada CEO Martin Thompson is leaving the company, says the insurer’s new owner, Intact Financial Corp. Intact and Danish insurer Tryg A/S announced Tuesday they have completed their acquisition of London-based RSA PLC. As part of the deal, Toronto-based…
What B.C. trial lawyers are asking of Canada’s top court in RSA dispute
May 25, 2021 by Greg MeckbachThe Trial Lawyers Association of British Columbia is asking Canada’s top court to essentially make a “new law” barring a liability insurer from taking an off-coverage position after starting to defend a tort claim if the insurer previously had “presumed…
Next steps for integrating RSA into Intact
May 17, 2021 by Greg MeckbachAs Intact puts the “final touches” on its proposed acquisition of RSA Canada, Intact’s executives say they may be looking at “strategic alternatives” for some of the RSA plc operations it has agreed to acquire. During Intact’s 2021 Q1 earnings…
Former RSA exec Ince joins major Canadian P&C mutual
May 4, 2021 by Greg MeckbachAfter a 25-year stint at RSA Canada, Donna Ince has joined Economical Insurance as vice president, personal insurance, regional operations. Ince joined Economical Monday, a spokesperson for Waterloo, Ont.-based Economical told Canadian Underwriter Tuesday. Ince worked at RSA Canada until…
Brokers: pay attention to these insurance fraud ‘red flags’
April 7, 2021 by Jason ContantIf your client is trying to rush the insurance buying process or is not concerned about price, that’s often a red flag that the transaction is fraudulent, RSA told Canadian Underwriter recently. “We know the majority of customers aren’t looking…
Number of suspicious claims “at an all-time” high during COVID: RSA
April 6, 2021 by Jason ContantEven though claims volume has significantly decreased during the COVID-19 pandemic, the number of claims flagged for possible fraud investigation remains comparable to pre-pandemic levels, RSA told Canadian Underwriter last week. “From RSA’s perspective… this indicates [claims] with concerning loss…