Industry
OTTAWA – A trio of federal cabinet ministers is warning COVID-19 researchers to take additional precautions to protect their efforts from thieves and vandals. The statement Monday says the federal government is concerned about “hostile actors” targeting pandemic-related research in this country and urges government scientists, academics and private-sector workers to double- and triple-check their […]
By Jason Contant | September 15, 2020
2 min read
Fresh from closing four acquisitions in western Canada, large brokerage Westland Insurance Group plans to continue exploring opportunities in the west, as well as consider deals that would move the brokerage in a more easterly direction. Westland announced on Sept. 2 the closing of four acquisitions (effective Aug. 31) in Alberta, British Columbia and, for […]
By Jason Contant | September 14, 2020
3 min read
Sometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance rate hike in New Brunswick was postponed from June 1 to Sept. 1, The Insurance […]
By Greg Meckbach | September 14, 2020
NEW WESTMINSTER, B.C. – A waterfront park along the Fraser River in New Westminster, B.C., has been extensively damaged by a major fire. New Westminster Mayor Jonathan Cote called the situation at Pier Park “devastating” in a social media message posted late Sunday night. The park was built in 2009 and includes a lengthy boardwalk […]
1 min read
While a rating agency complimented the property and casualty insurance space for pivoting its work environment from the office to employee homes, a new workplace survey has found that Canadian employees are looking for greater flexibility in choosing where they work going forward. As people return to the workplace, it seems the office life that […]
By Adam Malik | September 11, 2020
Demand for Canadian property and casualty insurance brokerages remains strong during the COVID-19 pandemic, but potential brokerage purchasers are becoming more targeted in their approach, a P&C transaction advisor observed. “For most potential transactions, the list of potential purchasers has narrowed,” Mike Berris, a partner at British Columbia-based Smythe Advisory, wrote in a blog on […]
By Jason Contant | September 11, 2020
WINNIPEG – The Manitoba government says it will be offering Disaster Financial Assistance to three areas hit by flooding in the spring and summer. Infrastructure Minister Ron Schuler says eligible costs from high water during spring flooding along the Red River Valley have been pegged at $3.7 million. Another $2 million is being set […]
The Canadian property and casualty insurance industry intuitively understands the benefits to brokers, carriers and consumers of better connectivity — it’s a matter of getting everybody moving in the same direction, an industry veteran told Canadian Underwriter recently. “Moving data around is not a competitive advantage — it’s table stakes,” said Tom Reid, the newly […]
By Jason Contant | September 10, 2020
Canadian property and casualty insurance companies are in a good financial position going forward as challenges — both new and continuing ones — mount, according to A.M. Best’s latest outlook. Over the last 10 years, the vast majority of Canadian P&C insurers have been rated at superior or excellent levels, with distribution over that time […]
By Adam Malik | September 10, 2020
Toronto-Dominion Bank is facing a class-action lawsuit over its refusal to pay travel insurance claims following trip cancellations triggered by the COVID-19 pandemic. Lead plaintiff Kevin Lyons cancelled his family’s flight to Italy along with their Mediterranean cruise in early March after the Canadian government advised against travel to the region, the proposed class action […]
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