Industry

Kenora, Ont., residents told to watch for possible flooding amid rising water levels

A city in northwestern Ontario is monitoring water levels and telling residents to watch for the possibility of flooding. That comes after an evacuation order was issued by the City of Kenora on Friday that said hundreds of residents were expected to be affected. City officials are out surveying the situation today. In a news […]

By Jason Contant | May 16, 2022

1 min read

Industry

Industry’s 2022 results won’t be as good as 2021, Definity CEO predicts

Definity Financial Corporation president and CEO Rowan Saunders doesn’t expect the Canadian P&C insurance industry’s return on equity to remain as elevated as it was last year. In 2021, the industry’s ROE hit 17%. The industry also recorded the lowest-ever combined ratio (85.2%), making it the third-most profitable year since 1975. Only in 2003 and […]

By Jason Contant | May 13, 2022

3 min read

Industry

Heavy flooding forces residents of Northwest Territories town from their homes

HAY RIVER, N.W.T. – About 3,500 residents have been ordered to evacuate a town in the Northwest Territories as volatile water levels never before experienced in some areas cause extensive flooding and damage. People in Hay River, on the south shore of Great Slave Lake just north of the Alberta-N.W.T. boundary were told late Wednesday […]

By Jason Contant | May 13, 2022

3 min read

Industry

How to attract and retain young workers post-pandemic

As more employees in the Canadian P&C industry retire and the industry continues to face a talent crunch, some are looking to young workers to fill the gap. New research from the University of Massachusetts Amherst shows that the social aspects of onboarding can make or break a young worker’s experience. In particular, the authors […]

By Jason Contant | May 12, 2022

4 min read

What Intact expects from personal and commercial lines

Now that pandemic restrictions have lifted, Intact expects to see muted growth in its personal auto and property lines, while commercial lines is positioned for a better performance, the CEO of Intact Financial Corporation said at Intact’s 2022 Q1 results conference. In Canada, Intact’s personal auto premiums grew by 37% year over year, “mostly driven […]

2 min read

NDP auto platform: 40% rate cut, frozen rate increases, and a Fair Pricing Commission

Ontario NDP Leader Andrea Horwath has proposed to lower auto insurance rates by 40% and investigate a “new system” for auto insurance that could include a public or partially public system. Horwath says if she is elected premier in the upcoming provincial election on June 2, she will lower rates 40% by “fixing the auto […]

3 min read

Pot shop sales data was ‘misappropriated,’ Ontario cannabis distributor says

TORONTO – The Ontario Cannabis Store says a data breach involving some of its sales information is being investigated by the Ontario Provincial Police. Daffyd Roderick, a spokesperson for the Crown agency responsible for distributing cannabis from producers to pot shops in the province, confirmed what he called a misappropriation of data Tuesday evening. “There […]

2 min read

Chubb Canada names new president

Paul Johnstone has been named president of Canadian operations for Chubb, the P&C insurer announced Friday. Johnstone will assume the role of country president of the company’s business operations in Canada on July 1, subject to regulatory approvals. He will succeed John Alfieri, who will retire from Chubb in July after nearly two decades at […]

2 min read

Ontario Election: NDP plans to ban postal code rating for auto insurance

Editor’s Note: The Conservative government outlined its plans for insurance in their budget document, released before the Ontario election, which will take place June 2. Canadian Underwriter is asking Ontario’s political parties for their platforms on insurance. We are printing the results as we receive the commentary. With Ontario’s upcoming provincial election, the NDP […]

2 min read

The window of opportunity to address increasing drought and expanding drylands is vanishing

By Margot Hurlbert, Canada Research Chair, Climate Change, Energy and Sustainability, University of Regina – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Chile, Argentina and the American West are in […]

4 min read