Industry
OTTAWA — A group representing thousands of the country’s small businesses says many hope the Trudeau Liberals heed their concerns and reshape aid in the upcoming federal budget to help them survive the COVID-19 pandemic. The Canadian Federation of Independent Business said lockdowns and public-health restrictions hitting non-essential retail stores have stretched some to the […]
By Adam Malik | April 13, 2021
4 min read
Since insurance brokers act as intermediaries between client and insurer, the risk of them falling victim to fraud increases as payment turnaround time decreases, says a cyber insurance expert. In fact, brokers “regularly top our list of industries that are most exposed to social engineering scams purely by way of the frequency of fund transfer […]
By Adam Malik | April 12, 2021
3 min read
OTTAWA — Canadian household spending will eclipse earnings in the coming months as vaccinations increase and uncertainty from the pandemic recedes, The Bank of Canada said in a report released Monday. The central bank says the gap between spending and wage expectations has never been so wide in its quarterly survey of consumer expectations. Officials […]
Canadian Underwriter will be hosting a webinar, Commercial lines post-COVID: What the future holds, on Monday, Apr. 12, at 1 pm ET, to talk about the impact of the hard market on Canada’s commercial lines segment. The webinar will discuss a number of themes, including the current state of Canada’s P&C commercial lines market; the […]
By David Gambrill | April 9, 2021
2 min read
British Columbia’s income tax commissioner must re-visit a decision to bill Mutual Fire Insurance Company of British Columbia an extra $4.5 million in premium taxes and interest from the 2012 and 2013 taxation years. Mutual Fire appealed the ruling by provincial tax officials, which arose from an audit. B.C. Supreme Court Justice Geoffrey Gomery Wednesday […]
By Greg Meckbach | April 9, 2021
OTTAWA – The head of the Canadian Museum of History has resigned following reported allegations of workplace harassment at the national institution. Museum CEO Mark O’Neill has been on a medical leave since last summer, when an independent investigation was launched into harassment allegations at the museum. A statement issued by the external communications firm […]
By Jason Contant | April 9, 2021
Patrick Lundy is about to take the reins of Burlington, Ont.-based Canadian University Reciprocal Insurance Exchange (CURIE). Lundy, CEO of Zurich Canada from 2012-17, will be CEO of CURIE effective Apr. 19, 2021. Until recently, Lundy was senior vice president of manufacturing and real estate in Canada for New York City-based commercial brokerage NFP. Before […]
By Greg Meckbach | April 8, 2021
Alberta is the only Canadian province where the average days billed for rental vehicles increased in 2020 Q4, according to a recent report. And it appears to be thanks to the almost $2 billion in insured damages the province suffered last year as a result of Fort McMurray flooding and the country’s worst-ever hailstorm. Enterprise-Rent-A-Car […]
By Adam Malik | April 8, 2021
Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while Cal LeGrow and Synex Business Performance acquired GoToInsure.ca in a deal announced Mar. 30. Westland’s […]
By Jason Contant | April 8, 2021
If your client is trying to rush the insurance buying process or is not concerned about price, that’s often a red flag that the transaction is fraudulent, RSA told Canadian Underwriter recently. “We know the majority of customers aren’t looking to defraud anybody, but the brokers’ experiences teach them when something feels wrong,” Lori Craig, […]
By Jason Contant | April 7, 2021
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