Canadian insurers appear to be in a ‘pretty good place’ when it comes to implementation of the upcoming IFRS 17 insurance accounting standard but Canada’s federal solvency regulator recognizes the change is complex and will be challenging. “Accounting systems are getting more complex,” said Darrell Leadbetter, senior director of insurance and pension with the Office […]
By Jason Contant | November 30, 2022
3 min read
A new, two-year supervision plan for health service providers (HSP) aims to protect consumers’ rights by delivering supervision and education to higher risk auto insurance HSPs, according to Ontario’s insurance regulator. Higher risk service providers are defined as those “more likely to either bill for services not provided, or bill for services that are not […]
By Alyssa DiSabatino | November 28, 2022
3 min read
Nav Dhillon will join Aviva Canada as Chief Financial Officer, starting December 2022. “I’m delighted to welcome Nav into Aviva’s executive leadership team,” Aviva Canada CEO Jason Storah said in an announcement. “Nav brings with him a broad range of experience in corporate strategy, investor relations and performance management and I’m looking forward to him playing a […]
By David Gambrill | November 21, 2022
1 min read
OTTAWA – Canada won’t agree to add language calling for the phaseout of all fossil fuels – including oil and gas – to the final agreement at this year’s United Nations climate talks in Egypt, Environment Minister Steven Guilbeault said Thursday. The agreement from the UN conference in Scotland last year called for countries to […]
By Jason Contant | November 18, 2022
4 min read
ST. JOHN’S, N.L. — For generations, Cory Munden’s family has been building and living on the same piece of oceanside land in the southwestern Newfoundland town of Port aux Basques. The town is a former fishing village, and like many of the houses destroyed by post-tropical storm Fiona on the morning of Sept. 24, the […]
By Alyssa DiSabatino | November 17, 2022
4 min read
Fear of a looming recession doesn’t appear to be affecting consumers’ purchasing behaviours yet, Definity Financial Corporation president and CEO Rowan Saunders said during a virtual fireside chat with RBC Capital Markets. “Insurance is quite close to being a recession-proof business,” Saunders said as part of larger discussion on the recessionary environment. “You have to […]
By Jason Contant | November 16, 2022
3 min read
James Bond, senior vice president and chief legal and governance officer at Wawanesa has been recognized as a Top 100 LGBT+ Executive. The award is part of the global list of Outstanding LGBT+ Executive Role Models supported by Yahoo Finance. “I don’t know of any other leaders across the industry at the senior vice president […]
By Alyssa DiSabatino | November 10, 2022
2 min read
Carol Jardine, winner of a national leadership award from the Insurance Institute of Canada, started her career in the insurance industry while she was studying chemical engineering technology at college. She was working at an insurance company while finishing her studies and intended to pursue a career in chemical engineering, but fell in love with […]
By Alyssa DiSabatino | November 8, 2022
2 min read
Natural catastrophes are no longer a case of if- but when. Can your clients’ risk management strategies keep up? With insured natural catastrophe (CAT) losses in Canada reaching over $2billion annually, the industry and consumers alike are grappling with the increased frequency and ferocity of severe weather events as a result of climate change. […]
November 7, 2022
4 min read
The insurance landscape is in a state of rapid change. Brokers are experiencing a transformation that we can all agree is long overdue. Adopting new technology and optimizing operations can be painful and must be managed with strategy and proper direction. You can change technologies very quickly in the right circumstances, but altering the way […]
November 7, 2022
4 min read