Industry
Eileen Mercier, a member of the board of directors of Intact Financial Corporation, was named one of Canada’s 100 most powerful women this week by the Women’s Executive Network. Mercier, 70, has been on Intact’s board since 2004. The 100 winners are “proven achievers who are strong contributors to their organizations, their fields of endeavour […]
By Greg Meckbach | November 23, 2018
2 min read
TORONTO – Hackers are targeting Toronto-Dominion Bank’s internal systems at all hours using cutting-edge techniques, but the bank’s head of cybersecurity isn’t losing sleep over them – they work for him, after all. The bank established late last year an in-house “red team” of ethical hackers _ cybersecurity professionals who attempt to hack a computer […]
4 min read
A trial to determine whether The Co-operators was negligent in distributing insurance funds contrary to the instructions of a mortgagee will be allowed to continue, the Ontario Superior Court of Justice has ruled. The court denied a motion for summary judgment by The Co-operators to quash the civil suit, with the insurer arguing that the […]
By David Gambrill | November 22, 2018
Clients in Saskatchewan, Manitoba and Atlantic Canada who rent out their homes like hotels will soon get coverage options through an insurtech partnership involving Slice Labs. The Co-operators Group Ltd. announced Tuesday that Duuo is expanding to more provinces. Duuo is the “initial product” in Slice Labs’ partnership with Guelph, Ont.-based Co-operators, Slice Labs chief […]
By Greg Meckbach | November 20, 2018
Editor’s Note: George Longo, president and CEO of commercial brokerage Towerhill Insurance Brokers, sold his Towerhill retail brokerage business to BrokerLink, as reported on Nov. 12, 2018. In a statement to his clients, Lloyd’s syndicates and colleagues, Longo said he sold his Towerhill retail brokerage and would be continuing to dedicate his full efforts to […]
By Jason Contant | November 12, 2018
CAA Club Group has agreed to buy non-standard auto insurer Echelon Insurance for $175 million, the companies said Friday. The deal will allow CAA Insurance to reach new markets and customers, CAA Club Group president Jay Woo wrote in an email to Canadian Underwriter. If the deal closes, CAA Club Group will be able to […]
By Greg Meckbach | November 9, 2018
3 min read
A US$6-billion deal that could form the world’s largest commercial brokerage is one step closer to reality. Britain’s Jardine Lloyd Thompson Group plc announced Wednesday that 99.9% of its shareholders voted in favour of having JLT acquired by Marsh & McLennan Companies Inc. Both firms have several commercial brokerage offices across Canada. The merger is […]
By Greg Meckbach | November 8, 2018
As both personal and commercial markets continue to show signs of hardening, Intact Financial Corporation will not pursue growth by lowering rates as 2019 approaches. “We’re not chasing growth by lowering rates as we move into 2019,” Darren Godfrey, Intact’s senior vice president of personal lines, said Wednesday during an earnings call discussing its Q3 […]
By Jason Contant | November 8, 2018
Canada’s largest insurer is supportive of one element of a private member’s bill that would rescind an Ontario regulatory bulletin that sets limits on territorial rating factors. Bill 42, the Ending Discrimination in Automobile Insurance Act, was tabled Oct. 15 by backbench Progressive Conservative MPP Parm Gill. The bill would amend the Automobile Insurance Rate […]
A merger agreement involving Sirius International Insurance Group Ltd., which sells reinsurance in Canada, has closed. Bermuda-based Sirius started trading Monday on the NASDAQ. Sirius America Insurance Company sells reinsurance through a Toronto office. In Canada, the firm had net premiums earned of $3.9 million in 2017, according to the Canadian Underwriter Statistical Guide. Sirius […]
By Greg Meckbach | November 6, 2018
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