Industry
Proposed regulations on deductibles for condominium insurance in Quebec need to be clear, affordable and consider the number of units in the building, the province’s self-regulatory body for brokers, agents and claims adjusters said Monday. “The government is saying, ‘Well, you shouldn’t be able to increase the deductible too much because otherwise if you do […]
By Jason Contant | November 6, 2018
2 min read
Travel insurance and assistance provider Allianz Global Assistance Canada (AGAC) has appointed Chris Van Kooten as chief executive officer, effective immediately. Van Kooten brings extensive insurance industry experience to his new position, having held executive leadership roles with several Canadian insurance companies. In recent years, he held actuarial roles with increasing responsibility at both The […]
By Jason Contant | November 5, 2018
The purpose of insurance is not to bankroll high-risk, reckless behaviours
By David Gambrill, Editor-in-Chief | November 4, 2018
A United States-based underwriter of marine cargo coverage has entered the Canadian cannabis market with a product that provides direct damage coverage to goods moving through the supply chain. North Kingstown, RI-headquartered Falvey Cargo Underwriting, which has a Canadian office in Oakville, Ont., announced Thursday the launch of its stock and transportation insurance product. It […]
By Jason Contant | November 2, 2018
1 min read
Canada’s reinsurance marketplace, featuring a relatively small piece of the global premium pie, creates a challenge for reinsurers to grow their business. So why do reinsurers remain optimistic about their future prospects?
By David Gambrill, Editor-in-Chief | November 2, 2018
6 min read
Toronto-based Fairfax Financial Holdings Ltd. plans to buy the remainder of Lloyd’s insurer Brit PLC within the next couple of years, Fairfax president Paul Rivett said Friday. Toronto-based Northbridge Insurance and Stamford, Conn.-based OdysseyRe are among the insurance subsidiaries owned by Fairfax. Fairfax acquired a majority interest in London-based Brit in 2015 for US$1.88 billion. […]
By Greg Meckbach | November 2, 2018
Almost 99% of Canadians who take one or two-day trips don’t purchase travel medical insurance, Allianz Global Assistance Canada (AGAC) said recently. Data show less than 1.4% of single trip medical policies purchased through its various distribution channels are for one- or two-day trips, said AGAC, a travel insurance and assistance services provider. “That is […]
By Jason Contant | November 1, 2018
If the Lloyd’s insurance business model is going to survive, it needs to adapt to today’s digitized world, suggests the chief executive officer of a large global insurer. “The Lloyd’s marketplace is important to the industry but it has longer term structural issues, in my mind, that it ultimately has to address,” said Evan Greenberg, […]
By Greg Meckbach | October 29, 2018
3 min read
Chris Floyd, president of individual insurance services at the Ontario Teachers Insurance Plan (OTIP), is the new president of the Insurance Brokers Association of Canada. IBAC announced Monday its new leadership team, which was confirmed October 5 at its annual general meeting in Halifax. Floyd – who was born in Hamilton, Ont. and grew up […]
By Greg Meckbach | October 16, 2018
Whatever your role in the industry, you can rightfully feel harried by the demands of an insurance career today. You’re certainly dealing with more change and complexity than the people who received the debut issue of this magazine in January 1934. To name a few issues that challenge the modern insurance professional: developing an effective […]
By Ian Portsmouth | October 11, 2018
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