Industry
An Alberta-based private equity company announced Tuesday it has entered into a letter of intent to acquire a 50% interest in a western Canadian-based property and casualty insurance company for $2 million. The Western Investment Company of Canada, a publicly traded company based in High River, Alta., said the acquisition represents about 90% of the […]
By Jason Contant | December 19, 2018
2 min read
OTTAWA – Cooling inflation has given the Bank of Canada another reason to keep interest rates on ice next month. The annual pace of inflation slowed in November to 1.7 per cent as upward pressure from higher gasoline prices eased off, Statistics Canada said in a report Wednesday. The agency’s latest data point showed the […]
By Greg Meckbach | December 19, 2018
3 min read
A report recommending major auto reforms, from a former CEO of Ontario’s Workplace Safety and Insurance Board, appears to have gone by the wayside. “What I have heard is that [the] Marshall [report] is dead,” consultant Willie Handler said Monday in an interview. David Marshall’s report on Ontario auto – Fair Benefits Fairly Delivered – […]
By Greg Meckbach | December 18, 2018
A dispute involving The Guarantee Company of North America arising from unpaid construction bills could reach the Supreme Court of Canada. The highest court announced Friday The Guarantee is applying for leave to appeal Guarantee Company of North America v Manitoba Housing and Renewal Corporation et al, released April 3, 2018 by the Court of […]
By Greg Meckbach | December 17, 2018
The Insurance Corporation of British Columbia said Friday it is seeking to raise rates by 6.3%, a move that prompted the Insurance Bureau of Canada to reiterate its call for competition in the province. Unlike in most Canadian provinces, B.C.’s basic mandatory auto insurance is written by a provincial crown corporation. ICBC has been losing […]
Most brokers see social media as a way to increase sales and generate leads, according to a new study by Aviva Canada, but social media are more effective for brand awareness, building an online community and retaining customers, according to social media practitioners in the insurance space. “While many brokers see social media as a […]
By David Gambrill | December 17, 2018
4 min read
If your client’s vehicle is towed in Manitoba, the auto insurer will not normally tell the towing company who owns the vehicle. “There is a gap in the [Manitoba privacy] legislation or, at a minimum, the administrative practices of the City” of Winnipeg, Judge Christopher Mainella of the Court of Appeal for Manitoba wrote in […]
By Greg Meckbach | December 13, 2018
As debate rages on in British Columbia over public versus private ridesharing insurance options, the Canadian Federation of Independent Business (CFIB) has released new survey results that show nearly three of four small business owners support private auto insurance. CFIB recently surveyed 1,015 small and medium-sized business owners in B.C., asking if the provincial government […]
By Jason Contant | December 11, 2018
Properly segmenting data within an “ocean” of information can make the difference between champ and chump, speakers suggested at KPMG’s recent insurance conference. “I think the biggest change that most people are grappling with is the amount of data that has become available,” Colm Holmes, president and CEO of Aviva Canada, said Dec. 6 during […]
By Greg Meckbach | December 10, 2018
Impaired drivers need more than just speculation to prove that a breathalyzer test may not be valid – they must put forward evidence to prove it, the Supreme Court of Canada has ruled. The decision is of interest to the insurance industry in part because it raises the standard for impaired drivers to challenge their […]
By David Gambrill | December 7, 2018
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