Industry
Auto insurance rates on the whole have softened thanks to the COVID-19 pandemic. But as vaccines offer a glimmer of hope of a return to something resembling pre-crisis normal, it’s up in the air as to what will happen to auto premiums going forward. In the fall, LowestRates.ca co-founder and CEO Justin Thouin told Canadian […]
By Adam Malik | January 11, 2021
3 min read
TORONTO – The superintendent of one of Canada’s financial regulators won’t consider allowing banks and insurers to hike dividends, offer share buybacks or increase executive compensation until COVID-19 lockdowns have subsided. Jeremy Rudin from the Office of the Superintendent of Financial Institutions says he won’t permit any of those measures until Canada has more clarity […]
By Jason Contant | January 11, 2021
1 min read
Continue to show patience and understanding, while keeping communication open, Hub’s Canadian leader is telling her fellow leaders as COVID-19 case counts continue to rise throughout Canada. “I had this conversation with our family dinner table — just this whole notion around with respect to communication,” said Tina Osen, president of Hub International Canada. “I […]
By Adam Malik | January 8, 2021
Ontario’s insurance regulator is looking for feedback from the public on a proposal to relax the rules prohibiting unfair or deceptive acts, allowing insurers to offer rebates and incentives to consumers under certain circumstances. “If you talk to insurance companies and look at the restrictions that you have under the current Unfair or Deceptive Acts […]
By Greg Meckbach | January 8, 2021
MONTREAL – A group of seniors at one of the first long-term care homes in Quebec to receive COVID-19 vaccines have threatened to sue the provincial government if they don’t receive their second doses in the coming days. A formal notice sent to Quebec’s premier and health minister dated Tuesday said residents of Montreal’s Maimonides […]
By Jason Contant | January 8, 2021
The most lucrative opportunities are often hidden in plain sight, and that is true of subrogation. Subrogation has long been overlooked as an opportunity for insurers to generate a lucrative revenue stream and improve long-term business. A detailed investigation for first-party claims opens the door to effective subrogation, which leads to two major benefits serving both […]
By Adam Malik | January 7, 2021
2 min read
Large Canadian brokerage Westland Insurance Group Ltd. now has a coast-to-coast presence with its acquisition of Storm Insurance Group, which has offices in Nova Scotia and Quebec. The deal, which closed Wednesday, is one of three acquisitions closed or announced in the new year. Gallagher and Navacord brokerage Waypoint Insurance also announced deals this week. […]
By Jason Contant | January 7, 2021
4 min read
NORFOLK COUNTY, Ont. – Ontario Provincial Police are searching for people involved in a reported rollover collision after officers couldn’t find the damaged vehicle. The Norfolk County detachment says a witness reported seeing a pickup truck that had rolled over into a ditch in Norfolk County, Ont., on Wednesday night. Police say four people were […]
If people intend to use data to help mitigate risk or save lives, that data must be trustworthy, says an artificial intelligence expert. Sean Griffin, CEO and co-founder of Disaster Tech, a disaster risk data firm, pointed out during CatIQ Connect’s recent Quarterly Webinar Series that his company is part of an organization called the […]
By Adam Malik | January 6, 2021
VANCOUVER – Wind and rain warnings have been lifted from coastal British Columbia following a powerful storm that hammered Haida Gwaii, Vancouver Island and the Sunshine Coast and cancelled sailings on most BC Ferry routes. Gusts topping 130 km/h lashed parts of Haida Gwaii while winds packing hurricane force downed trees and cut electricity over […]
By Jason Contant | January 6, 2021
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