Advisors to property and casualty insurers are seeing signs of the P&C industry’s financial people burning out after a gruelling period of implementing the new IFRS-17 accounting standards, a tax expert observes. And so, companies may wish to pause before throwing their people into the breach of confronting the strategic implications of new Environmental, Social […]
By David Gambrill | May 3, 2024
3 min read
Editor’s Note: This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. The authors are Kerry Black, assistant professor and Canada research chair of integrated knowledge, engineering and sustainable communities at the University of Calgary; and David Barrett, research associate of aquatic science in […]
By David Gambrill | April 29, 2024
5 min read
Canada’s well-worn roads are getting more dangerous. Nearly half of Canadian drivers (46%) in a recent online survey say the nation’s roads are less safe today than they were a year ago. The study, conducted by Travelers Canada from Jan. 29 to Feb. 2, 2024, received 1,000 responses from Canadians between ages 18 and 69. […]
By Phil | April 29, 2024
3 min read
Alberta’s new 3.7% cap on auto insurance rate increases for good drivers may wind up hurting the province’s well-mannered motorists more than it helps them, industry sources tell Canadian Underwriter. “Your carrier probably wants to reward you for [being a good driver] in terms of what you’re seeing in your rate, but it’s prevented from […]
By Phil | April 25, 2024
4 min read
SAINT JOHN, NB — The City of Saint John says it’s settled one of two insurance claims related to a 2020 cyberattack and will be paid the “full-face value” of $2 million. At its meeting Monday, Saint John council voted to accept an agreement to settle a claim on a cybersecurity insurance policy issued by […]
By David Gambrill | April 18, 2024
2 min read
Loyal, generous, optimistic, gregarious, a visionary — this is how the risk management community will remember Joe Restoule, co-founder and president of the William H. McGannon Foundation, who passed away on Mar. 29 following a battle with cancer. Well-known and greatly admired in the community, the industry’s been outpouring with tributes for Restoule, who served […]
By Alyssa DiSabatino | April 15, 2024
3 min read
Gravity brought financial results for Canada’s property and casualty insurance industry back down to Earth in 2023, despite a rebound to pre-pandemic investment returns. “As we predicted last year at this time, the abnormally high industry returns for 2021 and 2022 began to return to historically average levels in 2023,” retiring Property and Casualty Compensation […]
By David Gambrill | April 12, 2024
2 min read
BrokerLink has acquired two Ontario brokerages outright, as well as the personal and small-to-medium-enterprise commercial books of business from Halpenny Insurance Brokers Ltd. BrokerLink fully acquired M. Edward Powell Insurance Brokers Ltd. in Oakville, Ont., and Russ Bastow Insurance Broker Ltd., based in Ajax, Ont. All three transactions are effective immediately. “These acquisitions expand […]
By Alyssa DiSabatino | April 11, 2024
2 min read
NEW BRUNSWICK — St. Stephen is hoping a made-in-the-Maritimes rideshare app will help residents get around town – and possibly beyond. Future St. Stephen, the town’s economic development agency, has agreed to a six-month pilot project with Kari, a P.E.I.-based rideshare startup that has seen success in expanding service to rural areas, according to interim […]
By David Gambrill | April 11, 2024
4 min read
Drivers working for rideshare companies, such as Lyft and Uber, have good access to information about additional insurance coverages they should be purchasing. But they don’t always buy those policies. “The Top 5 transportation network companies [or TNCs, as insurers refer to rideshare companies] all have fairly robust websites when it comes to helping their […]
By Phil | April 5, 2024
3 min read