WINNIPEG – A senior executive at a Manitoba Crown corporation was sometimes being reimbursed for travel to Winnipeg from his home in the Toronto area twice a month, figures obtained by The Canadian Press show. The newly released detailed breakdown of expenses, which also includes hotel stays and meals, was obtained under the province’s freedom […]
By Jason Contant | July 7, 2023
3 min read
HALIFAX – Nova Scotia’s premier is threatening to take the federal government to court over funding to protect a vital land corridor linking his province and New Brunswick. Tim Houston wants Ottawa to fund the entire cost – estimated at around $400 million – to improve and strengthen the dike system on the Chignecto Isthmus. […]
By Jason Contant | June 29, 2023
1 min read
British Columbia’s Civil Resolution Tribunal has ordered a strata corporation to direct one of its council members to stop using a unit for short-term accommodations (STAs) after finding the council member violated a strata bylaw. The case centred around Bylaw 4.3, which states “strata lots are for single-family residential use only,” as tribunal member Kate […]
By Jason Contant | June 29, 2023
3 min read
Private equity (PE) and insurer-backed brokerage acquisitions appear to have surged in recent years, but it’s difficult to get a true number as not all transactions are reported, business advisory and consulting firm Smythe LLP said in a new report. Reported acquisitions by PE-backed consolidators rose from approximately 37% before the onset of the COVID-19 […]
By Jason Contant | June 22, 2023
3 min read
Although Ontario’s broker distribution market share has slightly increased year-over-year, the direct-to-consumer (D2C) distribution channel is becoming more competitive, an expert broker shared at the Young Brokers Conference in Niagara Falls. Ontario brokers should expect to feel more pressure from the D2C model as it bypasses the market share of direct insurance agents, particularly in […]
By Alyssa DiSabatino | June 22, 2023
2 min read
Canada’s solvency regulator released the property and casualty insurance industry’s first-quarter financial results for 2023, and under IFRS 17 reporting standards, the results look – er, different. Gone are the industry’s familiar financial metrics and key performance indicators (KPIs), such as net premiums earned, net claims incurred, loss ratios, and performance by key business lines. […]
By David Gambrill | June 21, 2023
2 min read
Continuing a tradition they started in 2018, Aviva Canada has garnered a contingent to participate in this year’s Toronto Pride Parade on June 25. Taking the lead are Aviva’s CEO Jason Storah, and several members of the executive team, including Chief People Officer Danny Davies, and Chief Risk Officer Rahul Gumber who co-sponsor Aviva Pride. […]
June 20, 2023
3 min read
Navacord brokerage Lloyd Sadd Insurance Brokers Ltd. is merging with Alberta’s oldest brokerage, Toole Peet Insurance. Based in Edmonton, Lloyd Sadd offers insurance in a variety of commercial specialty services, as well as in personal insurance, executive services, pensions and benefits, and risk management services. Lloyd Sadd CEO Chris Huebner expressed enthusiasm about the partnership […]
By David Gambrill | June 19, 2023
2 min read
A softening, but segmented, insurance market is allowing commercial lines brokers to leave some aspects of the years-long hard market behind. Improved pricing models are one key ingredient in the ‘stability’ now seen in commercial lines, brokers observed. Carriers are now using advanced data analytics to differentiate between good and poor risks. That’s led to […]
By Phil | June 14, 2023
3 min read
Swiss Re Corporate Solutions has appointed James Gasco head of Canada for Swiss Re Corporate Solutions, effective Sept. 1, 2023. Gasco succeeds Adrian Hall, who moves to London to become Head UK, Ireland, South Africa, and EMEA Wholesale for Swiss Re. Gasco will report to Katie McGrath, CEO of North America for Swiss Re Corporate […]
By David Gambrill | June 13, 2023
2 min read