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VANCOUVER – Much of coastal British Columbia is braced for a brief but powerful windstorm while snowfall and winter storm warnings stretch from the inland north coast all the way to the northeast corner of the province. Environment Canada says a fast-moving cold front crossing the south coast and a low-pressure system north of Vancouver […]
By Jason Contant | November 17, 2020
1 min read
Agis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe, the Middle East and Africa. Kitsikis will lead a team of client managers and market […]
By David Gambrill | November 16, 2020
Interest in captives naturally increases as a hard market intensifies, but now even mid-market or smaller organizations are considering captives as an alternate way to transfer risk, panellists of a Canadian Underwriter webinar observed Monday. “Traditionally, when you think of a captive, you think of the Fortune 500 companies that have big balance sheets that […]
By Adam Malik | November 16, 2020
3 min read
Intact Financial Corp. is unlikely to encounter any opposition from Canada’s competition regulator in acquiring RSA plc’s Canadian insurance operations, an expert from DBRS Morningstar predicts. “We see a material difference between the life insurance market and the P&C market in Canada. The life insurance market is concentrated with four names while P&C is much […]
By Greg Meckbach | November 16, 2020
4 min read
Claims adjusters are watching to see if an overnight Ontario windstorm will meet the $25-million threshold of a natural catastrophe (NatCat). As of September, Canadian P&C companies had paid out $2.1 billion for insured NatCat events this year. For now, it’s too soon to tell, adjusters told Canadian Underwriter. Claims professionals are still busy talking […]
By Jason Contant | November 16, 2020
SAINT JOHN, N.B. – The City of Saint John, N.B., has shut down its information technology systems after it says it experienced a “significant” cyber attack. The City says in a Facebook post that the 911 communication centre is operational, but many other online services have been shut down. It says the city website, online […]
Fire following a severe earthquake in the Vancouver area could cause more than $10 billion in damage, and the municipality should establish alternative sources of water supply to help fight the anticipated fires arising from the quake, according to a new study released Friday by the Institute for Catastrophic Loss Reduction (ICLR). “Strong shaking in […]
By David Gambrill | November 13, 2020
Shrinking capacity arising from hard market conditions in many commercial lines have created a favourable environment for self-insuring through captives, senior Canadian executives will propose in a live webinar hosted Monday at noon ET by Canadian Underwriter. Scheduled panellists include Patrick Ferguson, captive sales executive and senior vice president at Marsh’s Captives Solutions Group; Alonso […]
2 min read
Westland Insurance’s mergers and acquisition strategy continues in an easterly direction from its roots in British Columbia. Just days after closing its first-ever brokerage acquisition in Ontario, Westland Insurance Group Ltd. announced its second acquisition in Manitoba. On Nov. 10, Westland announced the closing of its acquisition of MIG Insurance Group, effective Nov. 6. Headquartered […]
By Jason Contant | November 13, 2020
Manitoba went into lockdown Thursday morning after the province’s COVID-19 numbers ranked among the worst in the country and its healthcare system approached capacity. But this time, unlike the first go-around in the spring, brokers say they are in an advanced state of readiness for the latest lockdown rules. This isn’t to say brokers didn’t […]
By Adam Malik | November 13, 2020
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