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The vast majority of Canadian companies have cyber security protocols in place, yet many still fall behind when it comes to testing their systems, according to new research from KPMG LLP. The Toronto-based firm’s 2021 Cyber Security Poll found that 94% of small- and medium-sized enterprises (SMEs) monitored for potential cyber attacks, but barely more […]
By Jason Contant | September 29, 2021
2 min read
Clients may need a vacant home policy for several reasons. “The most common one right now is people purchasing properties and looking to either improve them or completely rebuild,” said Rhys Doiron, group home & auto coordinator with Ontario brokerage Youngs Insurance Brokers. “Other times they’ve been inherited, or it’s a recreational property.” However, the […]
By Melissa Shin | September 29, 2021
Small- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments. Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top strategy, followed by digital technology investments. About half (46%) of Canadian SMEs polled identified mergers […]
3 min read
CALGARY – Enbridge Inc.’s Line 3 pipeline replacement project, a critical piece of export infrastructure for Canada’s energy sector, will be in service on Friday. The pipeline giant said Wednesday the 1,765-km Line 3 – which will carry oil from Alberta to Enbridge’s terminal in Superior, Wis. – is “substantially complete.” “After more than eight […]
Home is where the heart is. But if your clients aren’t passionate about their home insurance policies, it’s your job to help them understand their coverages. While one part of a homeowner’s policy covers the building itself and the belongings inside, another part is “designed to respond to defend you in the event you were […]
By Melissa Shin | September 28, 2021
Canada’s Property and Casualty Insurance Compensation Corporation (PACICC) is considering whether it needs to increase the size of its compensation fund in the event of a P&C insurer failure. PACICC’s board has asked management to complete a formal review of the scope, scale and mandate of the fund as the priority issue for 2022, PACICC […]
By Jason Contant | September 28, 2021
Martin Thompson, until recently CEO of RSA Canada, will be stepping in as interim Group CEO of Brit Ltd., which is owned by Toronto-based Fairfax Financial Holdings Limited. Brit, which covers complex risks, said in a press release Tuesday that Group CEO Matthew Wilson will be taking an indefinite leave of absence due to health […]
WHEATLEY, Ont. – A town in southwestern Ontario rocked by a massive explosion last month will be receiving up to $2 million from the provincial government to help with recovery efforts. The province says the funds will help businesses affected by the blast in Wheatley, Ont., resume operations. It also says money will be used […]
Two storms this summer across Saskatchewan and Alberta caused a total of $120 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Severe storms beginning Aug. 31 brought flash flooding and large hail that caused $64 million in insured damage, the Insurance Bureau of Canada (IBC) said in a […]
By Jason Contant | September 27, 2021
The race to achieve scale, connect digitally with customers and realize synergies are driving continued strong M&A activity in P&C insurance, a recent PricewaterhouseCoopers (PwC) Canada report suggests. Valuations remain at “historic highs” for insurance brokers and MGAs, bringing new vendors to market. Meanwhile, strategic carriers and aggregators continue to consolidate, according to PwC Canada’s […]
By Melissa Shin | September 27, 2021
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