Industry
VICTORIA – British Columbia’s government says the first batch of legal marijuana edibles, extracts and topical will soon be available for purchase, two months after they were legalized in Canada. The province says it received its first shipments of the products Wednesday and has made them available to private and public retailers via its wholesale […]
By Jason Contant | December 20, 2019
2 min read
The industry is not “horrible” when it comes to diversity and inclusion but more can be done, speakers suggested at KPMG Canada’s recent insurance conference. Diversity and inclusion have to be “directed from the very top,” said Heather Masterson, president and CEO of Travelers Canada. “I think diversity and inclusion, especially in a country like […]
By Greg Meckbach | December 19, 2019
3 min read
Validus Reinsurance Ltd. has established a branch office in Toronto with Heather Legg as its new chief agent, parent company American International Group Inc. announced Thursday. Legg, currently a senior vice president at Validus, is a former senior executive with Aon Canada. In Canada, Validus Re “will focus on treaty reinsurance, initially in the property, […]
Canada’s property and casualty insurers posted moderate profitability in the first nine months of 2019, but poor underwriting results and high loss ratios linger, notes an executive from the Property and Casualty Insurance Compensation Corporation (PACICC). For Q3 2019 year-to-date (as of Nov. 25), the industry’s average return on equity (ROE) was 6.3%, up from […]
By Jason Contant | December 18, 2019
Intact Financial Corp. announced Tuesday some key executive appointments in its commercial specialty and managing general agent business. Effective Jan. 1, Carla Smith will be senior vice president of specialty solutions for Intact. Pete Weightman, currently Intact’s senior vice president of specialty solutions and surety, will have responsibility for all managing general agent operations at […]
By Greg Meckbach | December 17, 2019
A Toronto man who told Canadian Underwriter he recommended direct writer Sonnet to some of his friends is denying allegations made by the Ontario insurance market conduct regulator that he actually solicited auto insurance through Sonnet. “I am not soliciting any insurance through Sonnet or any other company,” the man said in an e-mail to […]
By Greg Meckbach | December 13, 2019
Manitoba’s Public Utilities Board (PUB) has found a recently enacted insurance reserves regulation to be “invalid.” The Reserves Regulation sets out the manner of determining the amount to be maintained by the Manitoba Public Insurance (MPI) Corporation in its reserves supporting the basic, extension and special risk extension lines of business. The regulation required MPI […]
By Jason Contant | December 9, 2019
Canadian Underwriter fearlessly predicts the end of the hard market
By David Gambrill, Editor in Chief | December 6, 2019
Vehicle safety technology may actually be contributing to distracted driving, although that’s likely to be a short-term trend, says Michel Martineau, vice president of claims at Desjardins Insurance. “I think people have a high degree of confidence in safety features that can maybe lead them to be not as aware of their surroundings and as […]
By David Gambrill | December 6, 2019
More than half of Ontario’s commercial vehicle carriers have not been inspected by the province’s transportation ministry in the past two years, and the number of vehicles inspected each year has dropped big-time. These were among the findings in the 2019 Annual Report of the Auditor General of Ontario, released Wednesday afternoon. “Our audit found […]
By Greg Meckbach | December 6, 2019
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