Industry
Intact Financial Corporation and Dutch insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. The last items remaining on the to-do list include RSA re-registering as a private limited company, and the High Court of Justice […]
By David Gambrill | May 6, 2021
2 min read
Does your boss show up for a video conference in a hoodie? How many times during the pandemic have you seen a cat stroll across the screen during a video meeting? Or heard children fighting in the background? Most have us have seen that viral video of the spouse who may not be wearing pants […]
By Adam Malik | May 6, 2021
3 min read
CALGARY – Measures to control the COVID-19 pandemic made for a bumpy ride for most of the ski and snowboard industry in Canada, as revenues slumped even at resorts that were able to maintain near-normal lift ticket sales in a season that’s coming to a close. While some resorts are reporting increases in visits thanks […]
By Jason Contant | May 6, 2021
4 min read
Collectivfide Insurance Group Inc. has finalized the acquisition of Barrie, Ont.-based multiline broker RK Mooney Insurance Brokers Ltd., the fourth brokerage acquisition for Collectivfide, a company formed in 2019. Collectivfide’s shareholders represent mutual insurers in Ontario and across Canada. Although the company is currently focused on Ontario acquisitions, Collectivfide would consider expansion outside the province […]
By Jason Contant | May 5, 2021
The industry could potentially evolve towards an “open insurance strategy,” similar in concept to open banking, whereby consumers allow third parties access to their insurance data, an insurtech CEO suggests. In Europe, open banking gives consumers access to their banking data and lets them pass on that banking data to anyone they want, said Dejan […]
By Greg Meckbach | May 5, 2021
HALIFAX – Nova Scotia is offering more than $12 million in additional support to businesses hit by the latest COVID-19 lockdown in the province. Inclusive Economic Growth Minister Labi Kousoulis said today the new Small Impact Business Grant targets businesses directly affected by the provincewide lockdown that went into effect last Wednesday. Eligible businesses will […]
Citing very tight definitions of the types of incidents that would trigger a terrorism policy, an expert is advising P&C industry professionals to help commercial clients get additional coverage, providing a wider scope of protection. Several exclusions and definitions currently narrow the scope of a terrorism policy, explained Tamsin Plumptre, the Toronto-based credit, political and […]
By Adam Malik | May 4, 2021
After a 25-year stint at RSA Canada, Donna Ince has joined Economical Insurance as vice president, personal insurance, regional operations. Ince joined Economical Monday, a spokesperson for Waterloo, Ont.-based Economical told Canadian Underwriter Tuesday. Ince worked at RSA Canada until October 2020, most recently as senior vice president, personal insurance. She was RSA Canada’s executive […]
By Greg Meckbach | May 4, 2021
Canada’s federal solvency regulator is expecting high-quality submissions from property and casualty insurers for the last comprehensive “public quiz” before the IFRS 17 insurance accounting standard goes live on Jan. 1, 2023. Tara-Lea Herkert, director of the capital division of the Office of the Superintendent of Financial Institutions (OSFI), said the regulator wants a better […]
By Jason Contant | May 4, 2021
TORONTO – Canadian auto sales in April were up 254 per cent compared with the same month last year, when sales plunged due to lockdowns in the early stages of the COVID-19 pandemic. According to estimates compiled by DesRosiers Automotive Consultants, Canadian auto sales totalled 162,455 units last month, up from just 45,833 units in […]
1 min read
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