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The COVID-19 pandemic made it difficult at times for insurers to work through natural catastrophes, said a Wawanesa executive during a recent web conference. But they’ve learned a few lessons because of it. As Cats stormed through Alberta to the tune of about $2 billion in insured damages, with the June hailstorm in Calgary leading […]
By Adam Malik | March 2, 2021
3 min read
Cyber claims morphing into directors’ and officers’ liability and the increased sophistication of the plaintiff bar in Canada are two emerging trends in D&O lines, HDI Global Specialty SE – Canada told Canadian Underwriter recently. Oren Schemool, head of financial lines underwriting with the company, said that over the past year, the industry has encountered […]
By Jason Contant | March 2, 2021
It would have been difficult for Intact Financial Corp. to only buy RSA’s Canadian operation without buying other parts of London-based RSA plc, a senior Intact executive suggests. “It is difficult to pull [RSA Canada] away from the RSA Group for different reasons,” Intact CFO Louis Marcotte said, referring to the three-way deal announced this […]
By Greg Meckbach | March 2, 2021
2 min read
Canadians across the country can look forward to a mild spring peppered with the odd winter flashback throughout the first part of the season, according to predictions from one prominent national forecaster. Chris Scott, chief meteorologist with The Weather Network, said Canadians can count on some sunny days to put a bounce in their step […]
John Haas is the new president of the brokerage NFP in Canada. He will oversee all strategic and operational aspects of NFP’s business in Canada, collaborating closely with the current leadership team. He will lead the expansion of NFP’s footprint across Canada in all business segments. Haas succeeds Greg Padovani, who took on the role […]
By Jason Contant | March 1, 2021
Intact Financial Corp. will probably not be finished acquiring other insurers after Intact absorbs RSA Canada. “We will be ready at some point to take on more transactions in Canada,” Intact CFO Louis Marcotte said during the 22nd Annual Credit Suisse Virtual Financial Services Forum. He did not name any specific deals in the pipeline. […]
By Greg Meckbach | March 1, 2021
VICTORIA – British Columbia Premier John Horgan says completing the Site C dam is in the best interests of residents, despite the project’s price tag ballooning to $16 billion and completion date stretching to 2025. The premier told a news conference Friday that Site C has faced “significant challenges,” and the $5.3-billion cost increase and […]
4 min read
Saskatchewan Government Insurance (SGI) is the latest public auto insurer to announce customer rebates for drivers resulting from the ongoing COVID-19 pandemic. Both Manitoba Public Insurance (MPI) and the Insurance Corporation of British Columbia (ICBC) announced rebates in January and February, respectively. While details are still being finalized, it’s expected the average SGI rebate will […]
By Jason Contant | February 26, 2021
You can grow your business by shrinking the office footprint, as long as you do it correctly, the CEO of Travelers Canada says. Several P&C insurance company executives are openly discussing how much office space they might actually need once the COVID-19 pandemic has subsided. A Canadian Underwriter survey of more than 1,100 P&C professionals […]
By Adam Malik | February 26, 2021
OTTAWA – The federal taxpayers’ watchdog says complaints to his office spiked in the hours after he went public with concerns about how the Canada Revenue Agency locked users out of their online accounts. The accounts were locked just over one week ago when the agency found evidence that an unspecified number of user IDs […]
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