Industry
Marilyn Horrick, a former executive with The Guarantee Company of North America, is now executive vice president and chief operating officer of MSA Research Inc. The appointment took effect Friday. Toronto-based MSA’s reports include financial information on most of Canada’s property and casualty insurers. In addition to joining MSA, Horrick is also chief operating officer […]
By Greg Meckbach | February 1, 2019
2 min read
Canada is making good progress on a national flood program, pending a final decision by federal, provincial and territorial (FPT) ministers responsible for emergency management. “What they are looking at is one national insurance solution to improve outcomes for high-risk Canadians across the country,” Craig Stewart, vice president of federal affairs at Insurance Bureau of […]
By Jason Contant | January 29, 2019
3 min read
Looking to create a flexible workplace culture? Toss out the rule book and don’t formalize the process, recommends PwC. “A policy guide or a formal program can work against you,” wrote Anne Donovan, the U.S. people experience leader at PwC, in a blog posted on Harvard Business Review Monday. “It seems counter-intuitive, but having rules […]
By Jason Contant | January 28, 2019
Ontario auto insurance rates increased by an average of 3.35% in the fourth quarter of 2018, with several companies receiving approval for double-digit rate increases, the province’s regulator reported. Overall, 23 insurers representing approximately 51% of the market based on premium volume had rates approved in 2018 Q4. Hartford Fire Insurance Company was approved for […]
By David Gambrill | January 24, 2019
MONTREAL – Quebec’s cannabis agency generated about $40 million of sales in its first three months of operation, but supply shortages are forcing the public retailer to reduce its expansion plans. The province expects to have 40 points of sale in March 2020, 20 per cent less than the 50 outlined in the original expansion […]
By Jason Contant | January 24, 2019
Non-standard auto insurer Echelon Insurance is a step closer to being acquired by The CAA Club Group of Companies. Shareholders of Echelon Financial Holdings Inc. voted Wednesday in favour of the $175 million deal, Echelon said in a release. In addition to non-standard auto, Echelon’s other offerings include coverage for motorcycles, antique and classic vehicles […]
By Greg Meckbach | January 23, 2019
1 min read
TORONTO – More than half of Ontario’s eligible municipalities have opted in as willing hosts to cannabis stores as the first locations are set to open in a little over two months. Municipalities have until 11:59 p.m. Tuesday to tell the Alcohol and Gaming Commission of Ontario if they are opting out of hosting the […]
By Jason Contant | January 22, 2019
Unlike Economical Insurance, Canada’s largest mutual insurer plans to stay that way. “Everybody says, ‘Because of what Economical is doing, are you going to demutualize?’ No,” Carol Jardine, president of the Canadian property and casualty operations of Wawanesa Mutual Insurance Company, said Thursday during a luncheon hosted by the Insurance Brokers of Toronto Region (IBTR). […]
By Greg Meckbach | January 18, 2019
The Canadian insurance industry is not at the beginning of a hard market, says Phil Cook, a P&C industry consultant and CEO of Omega Insurance Holdings. “There are some commentators out there that will say we are at the beginning of a hard market; it’s going to turn now,” said Cook, speaking Wednesday at the […]
By Jason Contant | January 16, 2019
Nearly two years after David Marshall released his report on Ontario auto insurance reform, there is still no indication on where the government plans to go with it. “We haven’t had a concrete yes or no that they are going to implement any or part of the Marshall report,” Jeff Gatcke, president of the Insurance […]
By Greg Meckbach | January 15, 2019
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