BrokerLink makes third acquisition in May
May 31, 2019 by Jason ContantBrokerLink has made its third acquisition in May with the purchase of Alberta independent insurance brokerage Thomson Schindle Green Insurance & Financial Services Ltd. (TSG). With branches in Medicine Hat, Calgary, Brooks, Bassano and Edmonton, TSG has been providing insurance…
Why cyber insurers can expect to make more (and bigger) claims payments
May 29, 2019 by Jason ContantNot only is the frequency of ransomware attacks skyrocketing, attackers are targeting larger organizations and demanding higher ransom payments. Specialist insurer Beazley released its Beazley Breach Insights report for May last week, finding that ransomware attack notifications against clients increased…
Cyber hacking: customized for Canada
May 27, 2019 by Jason ContantBrokers advising their clients on cyber security will want to take note of new research that identified nearly 100 malicious email campaigns that were specifically targeted at Canadian organizations or were customized for Canadian audiences. “Much of this is due…
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…
Is there culture after an acquisition?
May 23, 2019 by Adam MalikA question posed at a recent event asked how many of the approximately 30 people in the room had ever been part of an acquisition or merger. Almost every hand went up. It seems just about every broker has been…
New cyber insurance platform offers quotes using single piece of data
May 23, 2019 by Jason ContantWhile online quote and bind systems have historically been cumbersome, one specialist insurer will soon offer a cyber insurance platform with single-question quoting capabilities. Using a single piece of client data, brokers will be able generate a cyber insurance quote…
How Intact lost this battle over vehicle storage fees
May 16, 2019 by Greg MeckbachCanada’s largest P&C insurer has suffered a setback in its quest to minimize vehicle storage fees. A recent Ontario court ruling means that, for the time being, Intact Insurance has to pay J.P. Towing Service & Storage Limited storage fees…
Making auto reform happen
May 16, 2019 by Adam MalikInsurance reform is long overdue, says the head of a medical evaluation company. Don Kunkel, president of Ontario-based AssessMed, which operates in eight provinces, says previous efforts to reform auto insurance have produced results that have been less than desired.…
Munich Re Canada appoints new president and CEO
May 14, 2019 by Jason ContantMunich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich…
What’s affecting B.C. wildfire risk this year
May 13, 2019 THE CANADIAN PRESSKAMLOOPS, B.C. – The BC Wildfire Service has come through its busiest period of the young 2019 wildfire season, responding to several blazes, including one that prompted an evacuation order west of Prince George. Weather has been unseasonably warm in…
CU Total Loss Series: Where are the bottlenecks?
May 13, 2019 by David GambrillTotal Loss Series, Part 2: Bottlenecks 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…
Waters to rise again in Ottawa area, even as N.B. turns to flood recovery mode
May 10, 2019 THE CANADIAN PRESSWater levels are expected to rise again this weekend between Ottawa and Montreal, even as New Brunswick’s floods are effectively over. Officials warned late Thursday that “significant” rainfall is expected to raise water levels in the Ottawa/Gatineau area down to…