Intact has fully digested its acquisition of RSA Canada, once Canada’s seventh largest insurer, and now remains committed to its objective of growing to a 25% to 30% market share in Canada. “When it comes to M&A, [our] Number 1 area of interest is Canada,” Intact Financial Corporation CEO Charles Brindamour told CIBC Capital Markets […]
By David Gambrill | May 24, 2024
3 min read
Commercial shipping operations in Canadian waters did not see a single vessel lost during 2023, Allianz Commercial tells Canadian Underwriter. A new report from Allianz Commercial, Safety and Shipping Review 2024, notes global shipping losses hit an all-time low of 26 vessels in 2023, despite rising risks sector-wide. Those losses are down more than a […]
By Phil | May 24, 2024
2 min read
Fort Nelson, B.C. — The mayor of the regional municipality that includes Fort Nelson, B.C., that was evacuated due to a threatening wildfire says local officials are pushing for a Monday or Tuesday deadline to start allowing about 4,700 residents home after nearly two weeks. Rob Fraser says the “imminent risk” posed by the Parker Lake […]
By David Gambrill | May 23, 2024
2 min read
Building on the emerging trend of P&C brokers acquiring financial planning and wealth management firms, insurance company Co‑operators announced its acquisition of Roger Ghent Financial Services. The transaction closed May 13, 2024. Prior to the acquisition, Booklin, Ont.-based wealth advisor Roger Ghent operated independently for nearly 30 years, Co-operators said in a May 22 press […]
By Phil | May 23, 2024
3 min read
Fort Nelson, B.C. — The B.C. Wildfire Service says cooler, wetter conditions are allowing crews to make progress in their firefight in the province’s northeast where thousands of evacuees remain out of their homes for a second week. The service says the more seasonable weather is expected to persist until Wednesday. But it’s warning that despite […]
By David Gambrill | May 21, 2024
1 min read
For the past 30 years, Canadian P&C insurers, brokers and law enforcement have trusted Accident Support Services International (ASSI) to help them effectively manage minor vehicle collisions. Today, ASSI is just as well known for their efforts in curbing Canada’s growing auto insurance fraud problem – often linked to organized crime that’s fueling the country’s […]
May 20, 2024
3 min read
With frequent extreme weather events now an expected part of our lives, we’re prepared for 2024 to be another CAT-heavy year. As we mobilize our claims teams, we must also recognize that customers, no matter how many risk mitigation actions they may implement beforehand, are never truly prepared for the stress extreme weather losses bring. […]
May 16, 2024
4 min read
Workers with Quebec’s forest fire agency have voted 99 per cent in favour of a strike mandate as the summer wildfire season approaches. The Unifor union, which represents provincial fire service workers including firefighters, communications staff and mechanics, says the mandate allows members to strike “at the opportune moment.” Workers with the fire service — […]
By Jason Contant | May 10, 2024
1 min read
VICTORIA, B.C. – Most drivers in British Columbia will receive a $110 vehicle insurance rebate this year. The Insurance Corporation of B.C. says strong investment and financial returns and the 2021 shift to the “enhanced care” model for providing health coverage for people involved in crashes has put the Crown corporation in a solid position […]
By David Gambrill | May 8, 2024
1 min read
Intact Financial Corporation (IFC) has contracted with an American wildfire risk management company to provide policyholders in Alberta and British Columbia with wildfire loss prevention and suppression services for their homes when threatened by active wildfires. In preparation for the 2024 wildfire season in Canada, IFC has engaged with Montana-based Wildfire Defense Systems (WDS) to […]
By Jason Contant | May 7, 2024
3 min read