Industry

Summit discusses a new national office on auto theft

Property and casualty insurance industry professionals and a car manufacturing industry representative are endorsing the idea of establishing a national auto theft office, an idea floated at Ottawa’s National Summit on Combatting Auto Theft earlier this month.  “Criminals have really capitalized on the lack of coordination [between various governments, police, and industries],” Karin Ots, senior […]

By Alyssa DiSabatino | February 29, 2024

3 min read

New N.S. coastal protection plan shifts responsibility to homeowners, municipalities

HALIFAX – Nova Scotia’s new plan to protect the province’s 13,000 kilometres of coastline is an abdication of the government’s responsibility, the opposition and environmental activists said Monday. The strong criticism came swiftly after Environment Minister Tim Halman announced the strategy and confirmed that the Progressive Conservative government would not put into force the Coastal […]

By Jason Contant | February 27, 2024

3 min read

Why Co-operators posted an underwriting loss in 2023

Co-operators General Insurance Company reported an annual underwriting loss of $184 million in 2023.   This figure, which excludes discounting and risk adjustment, accounts for “a decline of $356.2 million from the underwriting gain of $171.3 million in the same period of 2022.”  Discounted estimates are an actuary’s estimate of the present value of an unpaid claim.  “The increase in net undiscounted claims […]

By Alyssa DiSabatino | February 26, 2024

2 min read

Intact CEO’s take on fear of auto rate cap contagion

Intact CEO Charles Brindamour does not anticipate Alberta’s auto rate cap will bleed over into Ontario’s private auto insurance sector. “There’s always a risk,” Brindamour told Mario Mendonca, managing director of equity research at TD Cowen, during a fireside chat held by TD Securities Wednesday. “But I think there’s Alberta and there’s the rest of […]

By David Gambrill | February 23, 2024

3 min read