Industry
OTTAWA – Canada’s annual inflation rate rose to 8.1 per cent in June, boosted by soaring gas prices, which rose more than 50 per cent compared with a year ago, Statistics Canada said Wednesday. The June inflation rate was up from 7.7 per cent in May and marked the largest yearly change since January 1983. […]
By Jason Contant | July 20, 2022
2 min read
MEDICINE HAT, Alta. – Alberta Emergency Alert says a storm has caused damage to homes and vehicles in the southeastern corner of the province. It initially called it a tornado, but now says it was a storm with dangerous and damaging winds around Highway 523, which is west of Medicine Hat, Alta. RCMP say they […]
By Jason Contant | July 19, 2022
1 min read
The M&A market continues to burn red-hot, with deals for property & casualty and benefits brokers in Canada and the United States up 16% in the first half of 2022 compared to 2021, according to M&A advisory firm OPTIS Partners. In total, there were 427 announced insurance agency/brokerage mergers and acquisitions in the first half […]
3 min read
New captive insurance company in Alberta creates new coverage opportunities for the oil and gas sector, which is plagued by high costs
By Phil | July 18, 2022
In a new twist on Canadian insurance brokerage mergers, Gallagher opts to buy a Toronto executive search firm
By Jason Contant | July 18, 2022
OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent in May. Now, economists are forecasting that number hit at least eight per cent last […]
4 min read
Economic slowdown and high inflation will weigh down insurance market growth in 2022-23, primarily affecting property and auto insurers; still, rising interest rates may actually be a silver lining for insurers, Swiss Re Institute’s latest sigma report notes. Swiss Re predicts inflationary recessions in many major economies over the next 12-18 months, but central […]
By Alyssa DiSabatino | July 15, 2022
BrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months. A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June 1. One month later, it closed the acquisitions of Ontario-based DPM Insurance Group and Alberta-based […]
By Jason Contant | July 15, 2022
LYTTON, B.C. – A wildfire blazing just west of Lytton, B.C., has now scorched five square kilometres of trees and bush, more than doubling in size in less than 12 hours. BC Wildfire Service spokeswoman Taylor Colman says the out-of-control fire is burning vigorously and is being fuelled by gusty winds just under two kilometres […]
Insurance Bureau of Canada (IBC) is expressing “serious concern” after Mississauga, Ont.’s city council approved an 87.5% increase to towing fees for consumers who need a tow to a Collision Reporting Centre (CRC). The City of Mississauga defended the increase from $400 to $750, citing economic factors and hardships facing the towing industry. It also […]
By Jason Contant | July 14, 2022
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