Industry

Is the end in sight for commercial rate increases?

Commercial rate increases gradually became steeper in 2019 and should continue like this for some time, says Prem Watsa, chairman and CEO of Fairfax Financial Holdings Ltd. Toronto-based Fairfax, the parent company of Northbridge Financial, recently reported a 21.6% increase in net premiums written from insurance and reinsurance operations, from $2.64 billion in the fourth […]

By Greg Meckbach | February 25, 2020

2 min read

Industry vet believes it’s time for Canada to adopt Quebec’s auto insurance model

British Columbia’s public auto insurer recently moved to a no-fault system for auto insurance, but at least one P&C industry consultant believes that all Canadian provinces (B.C. included) should instead look towards Quebec’s public-private hybrid auto insurance model for guidance. “I’m not up-to-date on what’s going on in Quebec, but last I heard, that system […]

By Jason Contant | February 24, 2020

3 min read

Blockade trips up Canada’s biggest ports as shippers steer clear of rail closure

MONTREAL – A rail blockade in eastern Ontario has led to backlogs at Canada’s three biggest ports, prompting some shippers to take their business elsewhere as cargo piles up and dockworkers’ paycheques shrink. The protest along Canadian National Railway tracks east of Belleville, Ont., has halted CN’s eastern network – about one-quarter of its operations […]

By Greg Meckbach | February 21, 2020

3 min read

This Top 5 reinsurer is replacing its CEO for Canada

Joseph El-Sayegh has left his position as CEO of SCOR Canada to pursue other career opportunities, the Paris-based reinsurer announced Thursday. SCOR is proposing to replace El-Sayegh (pictured) with Paul Christoff, managing director and chief financial officer of the Americas Hub for SCOR, which A.M. Best Company Inc. ranked last year as the world’s fourth […]

By Greg Meckbach | February 21, 2020

2 min read