Industry
Insurtechs are playing a game of collaboration and not combativeness within the insurance industry, the chief executive officer of an online commercial insurance brokerage said recently. “If you look at every insurtech, we pretty much always have to partner with an insurer or reinsurer, TPA [third-party administrator] or somebody else in order to get the […]
By Jason Contant | September 2, 2021
4 min read
CALGARY – Canadians have started to pay more for groceries as severe drought drives up prices for agricultural commodities, and experts say more price hikes are likely this fall. At The Bon Ton Meat Market in Calgary, owner Greg Keller said the spike in retail beef prices over the last two months has been “unbelievable.” […]
3 min read
Insurance companies now need more than just a diversity, equity and inclusion (DE&I) strategy; they also need to apply it. With 3,000 employees in 30 countries, Charles Taylor Ltd. knows something about this. The London, U.K.-based service and consulting provider for insurance companies launched unconscious bias training in 2019 as a requirement for all line […]
By Melissa Shin | September 1, 2021
You’re burning out. According to a June survey from Canadian Underwriter, 54% of P&C employees reported feeling at least some stress and burnout working from home. Human resources experts often recommend that employees use their vacation entitlement to recharge, but busy employees may feel unable to do so. One managing general agent believes it’s found […]
2 min read
TORONTO – Ontario’s Superior Court of Justice has certified a class-action lawsuit against fourteen insurance companies that denied business interruption claims related to COVID-19. The class action, launched by several small businesses including a suit store, a smoothie shop and a dance studio, claims businesses across Canada suffered billions of dollars in losses after they […]
By Jason Contant | September 1, 2021
This year will be a record year for mergers and acquisitions insurance, a recent report by global independent broker BMS Group estimates. The inaugural Private Equity, M&A and Tax Insurance Report, released in May, found that while the COVID-19 pandemic dampened M&A activity in Q2 of last year, by Q4 “a frenzy of renewed M&A […]
By Melissa Shin | August 31, 2021
VERNON, B.C. – A planned ignition covering around 30 square kilometres is underway at the northeast corner of the destructive White Rock Lake wildfire west of Vernon, B.C., while hundreds of properties have been put on evacuation alert due to a different fire burning near Penticton, BC. A fire information officer with the provincial wildfire […]
By Jason Contant | August 31, 2021
Editor’s Note: This story has been updated to include feedback from the Insurance Corporation of British Columbia. Brokers will need to determine where they fit in as more consumers move to online and point-of-sale transactions, said Sarah Thompson, chief marketing officer at Hub International. Just as consumer demographics are changing, so are consumer buying […]
By Jason Contant | August 30, 2021
Economical Mutual Insurance Company will have a new parent company once it demutualizes, the insurer announced Friday. Definity Financial Corporation, a newly creating entity incorporated under the Insurance Companies Act (Canada), will be the parent company of Economical Insurance, Family Insurance Solutions Inc., Petline Insurance Company, and Sonnet Insurance Company, following the completion of the […]
ST. JOHN’S, N.L. – Linda Bishop says there’s a reason why every one of her group’s moose alerts that lands periodically in a handful of inboxes belonging to Newfoundland and Labrador journalists ends ominously with, “Urgent: Yes.” “It’s urgent because it could cause an accident,” she said in a recent interview. Bishop is the chair […]
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