Industry
Canada’s solvency regulator and the property and casualty insurance industry are working to defuse a potentially explosive situation – one that could see global reinsurance capital fleeing from Canada. What will be the outcome of this ticking regulatory time bomb?
By David Gambrill, Editor in Chief | November 1, 2019
8 min read
The Court of Appeal for Ontario has overturned a bad faith punitive award against AIG Insurance Company of Canada in a jewellery theft claim, ordering a trial to be held on the merits of the insurer’s contention that the claim was fraudulent. The Appeal Court ruled that the motion judge had erred in law by […]
By David Gambrill | October 31, 2019
2 min read
The Ontario government plans to make several changes to the Insurance Act, including the removal of the definition of “salesperson” from the law. Legislation was tabled Monday by Prabmeet Singh Sarkaria, the associate minister of small business and red tape reduction and Progressive Conservative MPP for Brampton South. As it stands, salesperson is someone other […]
By Greg Meckbach | October 31, 2019
Chances are high that you didn’t choose to work in insurance. Which means that if you are seeking new talent within the four walls of the industry, you are probably limiting your brokerage’s ability to find fresh new talent, experts told a recent broker conference. A pair of speakers asked hundreds of people attending the […]
By Adam Malik | October 31, 2019
3 min read
Mutual insurers that are concerned about their small size placing them at a competitive disadvantage could choose to follow in the footsteps of Economical and start the demutualization process, suggests an executive who is looking to invest about $500 million from Canadian pension funds into carriers. “Many of the small to medium-sized mutual companies suffer […]
By Greg Meckbach | October 30, 2019
Intact’s Centre on Climate Adaptation is “zeroing in” on flood risk mitigation, educating professionals in other industries about flood risk so that more eyes are watching out for dangers in homes across Canada. Blair Feltmate, head of the Intact Centre on Climate Adaptation at the University of Waterloo, pointed to successful efforts in working with […]
By Adam Malik | October 30, 2019
OTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, leaving the country as an exception compared to other advanced economies that have begun to respond to a weakening global economy. In its explanation, the central bank argued that inflation is on target and the domestic economy has held up well […]
It’s getting ugly out there in the war for talent in Canada’s property and casualty insurance industry. Signs of strain on the industry’s existing staff resources have been reported in all segments of the industry over the past year, be it in brokerages, underwriting divisions or claims departments. It seems everyone has a story to […]
By David Gambrill | October 30, 2019
It appears that there has been a proverbial “last-minute call from the governor” regarding controversial new rules proposed by Canada’s solvency regulator as part of its reinsurance review. The Office of the Superintendent of Financial Institutions (OSFI) has made it known to Canada’s property and casualty insurers that it will defer the timing – and […]
By David Gambrill | October 29, 2019
Low interest rates in Canada are here to stay, primarily because of very high debt levels, David Chilton, keynote speaker at the 2019 Insurance Brokers Association of Ontario (IBAO) Conference, said in Toronto last Wednesday. “Low interest rates are here to stay,” said Chilton, a former Dragon on CBC’s Dragon’s Den and best-selling author of […]
By David Gambrill | October 28, 2019
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
