Industry

LGBTQ: More than just letters

Discrimination persists in workplaces against the LGBTQ community. Being more welcoming can boost your competitive positioning

March 8, 2020

4 min read

How the taxi industry plans to deal with a lack of insurance coverage

There is a movement afoot to set-up a mutual insurer or something similar, by which Ontario taxi operators can self-insure the commercial auto insurance they need. “We are going to take a new approach, which is self-insuring,” Yellow London Taxi Inc. CEO Hasan Savehilaghi told Canadian Underwriter. The idea is for different taxi companies to […]

By Greg Meckbach | March 6, 2020

2 min read

Aviva CEO’s take on what to expect in Canada’s condo lines

Look for rate increases in Canada’s commercial residential realty segment to continue apace in 2020, but perhaps taper off in 2021 and beyond, Aviva Canada’s president and CEO predicted Thursday. And as rates harden in condo lines, expect Aviva Canada to continue to provide capacity, with no plans to pull out of the “distressed” segment. […]

By David Gambrill | March 6, 2020

3 min read

Big Moves – Leadership change at BMS vendor

Pat Durepos is leaving Keal Technology, the broker management system vendor he sold to Vertafore

March 5, 2020

2 min read

Why Aviva Canada’s financial rebound gained momentum in 2019

Aviva Canada’s ongoing profit remediation plan — which took effect after disappointing results posted in 2017 — loomed large in the company’s improved financial results in 2019, the company reported Thursday. Aviva Canada’s operating profit increased to £191 million (approx. Cdn$331 million) in 2019, up from £27 million (approx. Cdn$47 million) the year before. And […]

By David Gambrill | March 5, 2020

3 min read

Why more insurance reciprocals could form in Canada

Don’t be surprised if more reciprocals and self-insured pools emerge, a past president of the RIMS Canada Council suggests. “In some cases, pools and reciprocals will become popular if this market stays hard,” said Tina Gardiner, a Canadian member of Risk and Insurance Management Society (RIMS) Inc.’s board of directors. A reciprocal is a form […]

By Greg Meckbach | March 5, 2020

2 min read

ICBC profits should not be used to cover other government costs: NDP

VICTORIA – British Columbia’s NDP government wants to prohibit future governments from using profits earned by the province’s public auto insurer to cover other expenses. Attorney General David Eby says the government is planning to introduce legislation in the coming days that would ensure any future surpluses remain with the Insurance Corp. of British Columbia. […]

By Jason Contant | March 2, 2020

1 min read

Who is replacing Sevcik as CEO of Gore Mutual

Andy Taylor is appointed CEO of Gore Mutual effective July 1, replacing Heidi Sevcik (pictured, above) who is retiring after a 26-year career with Cambridge, Ont.-based Gore. Taylor, who has worked for Gore Mutual for 15 years, has been chief financial officer since 2012. “Having worked closely with the [board of directors] for many years, […]

By Greg Meckbach | March 2, 2020

2 min read

What the new reinsurance rules could look like for Canada

Canada’s federal insurance regulator will probably impose a policy limit rule, but one that will look different from a controversial rule initially proposed in 2018, a lawyer familiar with insurance solvency rules told Canadian Underwriter. “There has not really been any change, per se, to the proposed rule released quite yet, and that is what […]

By Greg Meckbach | February 27, 2020

3 min read

Desjardins Group reveals cost of 2019 data breach

MONTREAL – The Desjardins Group says last year’s theft of the personal data of its 4.2 million members ultimately cost the co-operative $108 million. The Quebec-based financial institution initially estimated the cost of a malicious employee’s breach – which also affected 1.8 million credit card holders – at $70 million. Chief executive Guy Cormier says […]

By Jason Contant | February 26, 2020

1 min read

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