Homeowners loss ratio drops to 49.1% for this Top 10 insurer
November 3, 2021 by Greg MeckbachCanada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance…
Updated: What emergency relief will insurers offer customers? Here’s what they told us
May 31, 2021 by Adam MalikEditor’s notes: This story has been updated to include additional information from Allstate. Insurance Bureau of Canada announced in 2020 that its members are offering reductions in auto insurance premiums for consumers whose driving habits have changed significantly. You can…
Regulator allows Co-operators to use credit score for rating auto
February 9, 2021 by David GambrillFollowing in Aviva Canada’s footsteps, Co-operators General Insurance Company has received approval from the Nova Scotia auto insurance regulator to use credit scoring as a rating factor to help price auto insurance rates for private passenger vehicles. “The company proposed…
Tragic, yes, but COVID-19 didn’t change the insurance world: Co-Operators CEO
December 10, 2020 by Adam MalikThe insurance industry should not be surprised by the fact there was a global health pandemic, a senior P&C industry exec says, adding that COVID-19 is not likely to change industry fundamentals significantly, since nothing new was brought to the…
What the court said when “surface water” appeared in the policy exclusion, but not in the flood endorsement
July 31, 2020 by Greg MeckbachThe Co-operators has to pay a Mississauga banquet hall facility nearly $1 million – about double the amount it originally paid on a sewer backup policy – for losses arising from an historic 2013 rain storm, the Court of Appeal…
How pandemic is affecting this Top 5 insurer’s bottom line
May 1, 2020 by Greg MeckbachDelays in construction projects, business interruption, and reduced frequency of vehicle accidents will have an impact on insured losses, but it’s too early to predict exact numbers, The Co-operators General Insurance Company suggested in recent securities filing. “Given the many…
Where the Co-operators is raising home insurance premiums
March 17, 2020 by Greg MeckbachThe Co-operators General Insurance Company reported a double-digit increase in homeowners’ premium growth in 2019, which the Guelph, Ont. insurer attributes to higher average premiums in Ontario and Western Canada. In its annual report released Wednesday, The Co-operators reported net…
The Co-operators Duuo could go ‘way beyond home share’
November 15, 2018 by Greg MeckbachMore Insurtech products – in addition to coverage for overnight home rentals – could be coming down the pipe from the recently-launched Duuo, a speaker with Slice Labs Inc. reports. Coverage for homeowners listing their place on sites like Airbnb…
The Co-operators acquires personal and commercial lines brokerage in Quebec
October 3, 2018 by Jason ContantThe Co-operators has acquired Robert Poirier & Associés, Courtier d’assurance inc. (Assurance Robert Poirier), a personal and commercial lines brokerage in Gatineau, Que. Guelph, Ont.-based The Co-operators has seen steady growth in Quebec over the past several years, and acquiring…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
The exclusion that no longer applies to this home insurance coverage
August 28, 2018 by Greg MeckbachFifteen years after Nova Scotia was hit by Hurricane Juan, a Canadian home insurer is offering storm surge coverage in all four Atlantic Canada provinces. Storm surge is a rise in sea level resulting from atmospheric pressure changes and wind…
How individual insurers have responded to challenges in Ontario auto
August 14, 2018 by Greg MeckbachDespite a consensus in the industry that auto insurance rates are inadequate in Ontario, not all insurers are trying to diversify their business to reduce their exposure to this particular line. The Co-operators Group Ltd. “does not intend to reduce…