Industry
Tokio Marine Holdings Inc. plans to incorporate a new property and casualty insurer in Canada next year. The Japanese insurer announced Nov. 26 its new Canadian insurer will focus mainly on specialty business and have “limited overlap” with Tokio Marine & Nichido Fire Insurance Co. Ltd.’s existing Canadian branch. Tokio Marine Holdings intends to apply […]
By Greg Meckbach | November 30, 2020
2 min read
If the Canadian property and casualty insurance industry’s second quarter results — a financial temperature check at the height of the pandemic — looked a bit sickly this year, the third quarter results show signs of overall recovery, data from Canada’s federal solvency regulator suggest. Buoyed by gains in the auto and the property lines […]
By David Gambrill | November 30, 2020
Brokers who take a broad, scattershot approach to getting submissions approved by underwriters are only setting themselves — and their clients — up for failure and disappointment, an insurance executive warned during a recent webinar. For a better chance at success, try a smaller scope and a more targeted approach, recommended Andrew Steen, president of […]
By Adam Malik | November 30, 2020
3 min read
FREDERICTON – Emergency Measures officials in New Brunswick are urging residents to be prepared for a large storm system that has the potential to cause flooding in low-lying areas. The storm, which is expected to hit the province later today, is forecast to bring strong wind gusts and heavy rain. Environment and Climate Change Canada […]
By Jason Contant | November 30, 2020
1 min read
Aviva Canada CEO Jason Storah has no time for arguing about the validity of climate change and the threats facing the planet that are affecting the insurance industry. Instead of debates about climate change based on speculation and conjecture, he’d rather discuss data. “Look, I’m being I am very conscious that I don’t really want […]
By Adam Malik | November 27, 2020
Insurers will be forced to make tough decisions about how they offer cyber coverage, thanks to claims going through the roof this year and losses piling up across the board, a cycler expert recently told Canadian Underwriter. Insurers will have to decide whether they’ll respond to the spike in cyber claims by reducing capacity or […]
In keeping with actions previously taken by Canada’s auto insurers, Northbridge General Insurance Company will start treating driving while using a hand-held communication device as a major conviction for the purpose of setting insurance rates in Nova Scotia. The change takes effect Jan. 4, 2021 for new business and Feb. 4, 2021 for renewal business, […]
By Greg Meckbach | November 27, 2020
Prime Minister Justin Trudeau pushed back against critics of his government’s COVID-19 vaccination plan with assurances most Canadians would be inoculated by September 2021, with a former NATO commander leading distribution. Trudeau announced Friday that Maj.-Gen. Dany Fortin will lead the nation’s vaccine distribution efforts, overseeing logistics that include cold storage requirements, data sharing, and […]
Improving diversity and inclusion (D&I) in insurance companies has a positive impact on the business above and beyond compliance and the reputation of the organization, speakers said recently at a virtual industry event. Some of the benefits include better talent and promotion opportunities, and greater innovation and employee engagement. Strong D&I data can even have […]
By Jason Contant | November 26, 2020
There’s a need for experts capable to handle complex and large loss investigations and provide unbiased views, says the Canadian head of global forensic engineering firm Haag, which has opened up shop in Canada. The Dallas, Tx.-based company expanded north of the border in September, with former 30 Forensic co-founder Chris Giffin at the helm […]
By Adam Malik | November 26, 2020
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