Industry
They say timing is everything, and that is particularly true of brokers working with underwriters. The earlier underwriters can tell brokers about the market challenges they are facing, what they deem to be an important part of a submission, and whatever pertinent information they can provide about writing a particular risk, the better the industry […]
By Adam Malik | December 9, 2020
3 min read
EDMONTON – An Edmonton man sentenced to 3-1/2 years in prison for breaking a woman’s arms with a crowbar in a road-rage attack has lost an appeal of his conviction. Jared Eliasson was granted bail in December 2019, moments after he was sentenced, pending the appeal. Eliasson, who is in his early 30s, was acquitted […]
By Jason Contant | December 9, 2020
2 min read
Electronic auto theft, high-end vehicles stolen for shipment overseas, and street racing are three emerging trends coming out of Insurance Bureau of Canada’s (IBC) list of Top 10 stolen vehicles in 2020. Electronic auto theft is on the rise across the country, as more vehicles are equipped with technology like keyless entry remotes, according to […]
By Jason Contant | December 8, 2020
FORT MCMURRAY, Alta. – More than seven months ago, Cora Dion and her husband fled Fort McMurray for the second time in four years as a spring flood threatened their home in northern Alberta. They returned to a soggy mess in the basement, a dispute with their insurance company and the near-foreclosure of their home […]
4 min read
When it comes to regulating “Best Terms Pricing” in Canada, Canadians, politicians and insurance regulators be forewarned: Be careful what you wish for. Banning the practice in a hard commercial lines market could wind up making things worse for consumers, not better. This point was made generally in a recent email to Canadian Underwriter from […]
By David Gambrill | December 7, 2020
5 min read
Getting consistent, high-quality scientific data into the hands of decision makers can protect people from the fallout of bad choices leading up to a catastrophe, such as what’s happened in Fort McMurray, Alta., a catastrophic data expert says. But it will take a coordinated effort to determine the right — and most effective — data […]
By Adam Malik | December 4, 2020
One of Canada’s largest institutional investors has joined forces with Cinven, an international private equity firm, to acquire Compre, a specialist global consolidator of closed books of non-life insurance policies. Victoria-based British Columbia Investment Management Corporation (BCI) and Cinven announced Nov. 30 the deal to acquire Compre from CBPE Capital LLP. Financial details of the […]
By Jason Contant | December 4, 2020
The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the recently-announced acquisition of RSA by Intact and Tryg,” said Georges Pigeon, Montreal-based partner for deal […]
By Greg Meckbach | December 4, 2020
TORONTO – A new study estimates more than half of executives responsible for cybersecurity expect to grow their budgets in response to new challenges raised by the COVID pandemic. Consulting firm PwC Canada says a poll of 3,000 executives around the world, found 55 per cent expected to budget more for security, with Canadian responses […]
1 min read
Being able to collect better data regarding sales and customer behaviour are obvious reasons to upgrade the data system at your brokerage, but there are other benefits, Vancouver-based P&C insurance consulting firm Smythe Advisory said in a blog published Tuesday. Assuming your brokerage has made the commitment to upgrade your data system with the view […]
By Jason Contant | December 3, 2020
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