Industry
The number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had acquired Saskatchewan-based John Galon Insurance Services Ltd. and Galon Management Ltd. (Galon Insurance Brokers); Navacord […]
By Jason Contant | February 4, 2021
2 min read
Two Toronto-area retirement homes imposed restrictions on visitors coming from an Ontario region at the centre of a more potent COVID-19 outbreak over the weekend as officials in another district said the more contagious U.K. virus variant had surfaced there as well. Shannex Inc,. confirmed Sunday that its two retirement facilities in Toronto and neighbouring […]
4 min read
The former president and CEO of reinsurer SCOR Canada, Joseph El-Sayegh, has joined Quebec brokerage Lussier Dale Parizeau (LDP). LDP announced El-Sayegh’s appointment as regional vice president, commercial services and practice leader in risk management, effective Jan. 11. Among other offerings, LDP works with nearly 70 insurers to provide personal auto and home, commercial, life […]
By Jason Contant | February 3, 2021
The number of carriers supporting Canada’s residual market for high-risk auto insureds is shrinking thanks to a combination of player withdrawal and mergers and acquisition activity. Tackling this issue is one of a number of priorities for the Facility Association as it embarks on a new five-year strategic plan. The Facility Association Residual Market (FARM) is […]
By Adam Malik | February 3, 2021
3 min read
VICTORIA – Almost three million drivers in British Columbia will receive COVID-19 insurance rebate cheques next month that average about $190 each, Premier John Horgan said Tuesday. The Insurance Corporation of British Columbia will return $600 million in net savings to policy holders in March because there have been fewer accidents and claims during the […]
Intact Financial Corporation has appointed a senior executive at the Bank of Canada, Carolyn A. Wilkins, to join the insurer’s board of directors. The appointment comes as all P&C insurance companies in Canada grapple with the economic downturn arising from the global COVID-19 pandemic. “We are pleased to welcome Carolyn Wilkins to the board of […]
By David Gambrill | February 2, 2021
High-tech security and identity protection company Sontiq announced Tuesday it had signed a definitive agreement to acquire CyberScout, a major provider of cyber products and services tailored to the insurance industry. “Through Sontiq’s comprehensive product portfolio, major insurance carriers, mutual insurers, and reinsurers will benefit from increased cybersecurity education, protection, forensics, incident response and resolution […]
By Jason Contant | February 2, 2021
HALIFAX – A winter storm lashed the Maritimes with strong winds, snow and ice pellets on Tuesday, causing power outages and forcing the closure of schools and businesses. Snowfall and winter storm warnings were issued for much of the region, though most of Nova Scotia was drenched in heavy rain by the afternoon as the […]
After going through a wildfire and multiple flooding events over the last few years, it’s reasonable to believe that businesses are re-thinking about being in Fort McMurray, Alta., says a Canadian P&C insurance executive. The executive’s comment applies to more places than just Fort McMurray: It’s applicable to all other global hot spots that are […]
By Adam Malik | February 1, 2021
Average personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both the 2020 year-end and fourth-quarter premium rates decreased in personal auto lines versus the previous […]
By Jason Contant | February 1, 2021
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