Industry
Alexandra (Lexie) Kindbom, until recently managing director of Marsh Canada, is now in charge of financial, executive and professional risks in Canada for Willis Towers Watson, a major competitor to Marsh. Two other former Marsh Canada executives – Susan Finbow and Andrew Brown – are also joining Willis Towers Watson Canada. Kindbom will oversee all […]
By Greg Meckbach | July 17, 2019
2 min read
The hard market continues in personal lines in Canada, with personal auto in Quebec seeing a significant increase in average premiums in Q2 2019, according to Applied Systems’ latest rating index. Last week, the insurance software vendor released its most recent premium rate index for personal auto and property lines across the country. Year-over-year and […]
By Jason Contant | July 17, 2019
Canadians have different concerns and beliefs about home and auto insurance depending on where in the country they reside, a new national survey commissioned by belairdirect has found. In British Columbia, one-third of respondents (34%) were concerned with the price of their auto insurance policy, more than any other region in Canada. Thirty per cent […]
By Jason Contant | July 16, 2019
3 min read
ST. JOHN’S, N.L. – A search is underway for four people missing after a float plane crashed into a Labrador lake on Monday, killing three of the occupants. Jean Tremblay, president of the small Quebec airline that owns the plane, said he was informed by search and rescue officials that three of those aboard were […]
By Greg Meckbach | July 16, 2019
Discounts on auto insurance for clients with an autonomous emergency braking system could get harder to find. In Nova Scotia, Wawanesa Mutual Insurance Company offers a 15% discount for vehicles with a model year of 2010 or higher that have a factory-installed autonomous emergency braking system. The insurer is proposing to remove the discount for […]
Your commercial clients may be able to get cyber insurance with fewer underwriting questions than in the past, but you should still pay close attention to those clients’ risk management practices, the head of a Toronto managing general agent suggests. The list of questions cyber insurers are asking during the underwriting phase has “probably gotten […]
By Greg Meckbach | July 15, 2019
Following the marching orders of a decision last year by B.C. Financial Services Tribunal (FST), the Insurance Council of B.C. has issued license suspensions to two insurance brokers for their role in overriding their clients’ outstanding toll bridge debts in order to provide them with auto insurance. The two brokers each had previously received fines […]
By David Gambrill | July 12, 2019
Interest rates in Canada won’t change for the next 18 months, but what happens after that is hard to predict, a Bank of Montreal economics expert suggested Thursday. The Bank of Canada announced Wednesday it is keeping the overnight interest rate at 1.75%. Although this is 1.25 percentage points higher than two years ago, it’s […]
By Greg Meckbach | July 12, 2019
Laura Wiebe is retiring as CEO of Saskatchewan Mutual Insurance Company. Her successor, senior vice president of operations Shelley Willick, takes the helm of SMI as CEO on July 15. Wiebe has been president and CEO of SMI since 2008. SMI writes insurance in its home province as well as in Alberta and Manitoba. In […]
By Greg Meckbach | July 11, 2019
1 min read
Global mergers and acquisitions (M&A) activity over the past five years — which reached a total value of almost $3.5 trillion in 2018 — led to a starburst of transactional insurance last year. Transactional risk insurance covers risks related to M&A, including representations and warranties (R&W) insurance, tax indemnity insurance and contingent liability insurance. In […]
By David Gambrill | July 11, 2019
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