Industry

NFP’s new executive leadership team in Canada

NFP Corp. has formed a new executive leadership team (ELT) in Canada. The property and casualty brokerage, which also provides benefits consulting, wealth management and retirement advice, assembled the leadership team as the company continues to grow and expand in Canada. NFP’s executive team will play a central role in building a unified, national business […]

By Jason Contant | May 20, 2022

2 min read

Industry

The line that drove Aviva Canada’s 2022 Q1 premium growth

Commercial lines premiums at Aviva Canada grew by 17% in 2022 Q1 (13% at constant currency), according to the company’s quarterly financial results. “Sixty per cent of the growth overall [in commercial lines] is coming from rate and about 40% from new business,” Aviva plc group chief executive officer elaborated in an investor’s call Thursday […]

By David Gambrill | May 20, 2022

2 min read

Industry

SGI announces first woman president and CEO

Penny McCune will become the first woman to serve as president and CEO of Saskatchewan Government Insurance (SGI), effective June 1. She succeeds former president and CEO Andrew Cartmell, who retired on April 4, 2022, after a 12-year tenure with the company. Cartmell was the longest-serving president and CEO of the province’s public insurer. […]

By Alyssa DiSabatino | May 19, 2022

2 min read

Industry

How modern tech companies are leaving old insurance policies in the dust

Modern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that we were originally selling to these clients felt like it was designed for companies that […]

By Jason Contant | May 19, 2022

4 min read

Turo ends dual listing prohibition following Competition Bureau investigation

GATINEAU, Que. – The Competition Bureau says car-sharing service Turo Inc. has ended its policy in Canada that prevented someone from also listing the vehicle on other platforms, following an agency investigation. The Bureau says the change is good for competition in the car-sharing space and in digital markets where anticompetitive conduct can lock in […]

1 min read

Two auto physical damage trends of concern to one insurer

Definity Financial Corporation’s executive vice president of personal insurance is concerned about two trends in auto physical damage. “The two areas that are of concern to us are theft and total loss, where we are seeing approximately a 25% increase year-over-year in loss costs,” says Paul MacDonald, Definity’s executive vice president of personal insurance during […]

3 min read

Inflation rate up slightly in April to 6.8 per cent: Statistics Canada

OTTAWA – The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April. Statistics Canada said Wednesday that its consumer price index for April rose 6.8 per cent compared with a year ago, up from a gain of 6.7 per cent for March. The […]

3 min read

Forest fire in northeast Ontario community forces residents to evacuate

A forest fire has forced the evacuation of residents in a community north of Sudbury, Ont. Conservation officers and Ontario Provincial Police assisted with the precautionary evacuation of Shining Tree, Ont., residents Saturday afternoon after a forest fire broke out in the area on May 10. The fire is still burning out of control today, […]

2 min read

Ontario auto: Should employee benefits or auto insurers pay out first?

If the Ontario Progressive Conservative Party moves ahead with one of its proposed changes to auto insurance, it could result in increased claims costs for auto insurers, or else shift the burden more onto extended (supplementary) health insurance policies, says financial management consultant David Marshall. In its 2022 budget document, the ruling Conservative party said […]

3 min read

What Intact’s CEO thinks of Ontario’s auto insurance budget

Intact’s CEO Charles Brindamour said he is “quite thrilled” with some of the auto insurance reform measures contained in Ontario government’s proposed budget. Brindamour commented on the budget proposals for auto insurance reform during a Virtual Fireside Chat with RBC Capital Markets. Historically, as far back as 2016, the Ontario government has “done a pretty […]

3 min read