Industry

Key interest rate could soon go up another half percentage point, central bank says

OTTAWA – The governor of the Bank of Canada is signalling Canada’s key interest rate could go up another half percentage point in June to help wrestle inflation under control.   Tiff Macklem is appearing at the House of Commons standing committee on finance today.   Two weeks ago the central bank raised its key interest rate […]

By Jason Contant | April 25, 2022

1 min read

Court ruling expands Northbridge’s pandemic coverage by $300K

A Toronto daycare with seven locations will have a pandemic coverage sublimit of $50,000 apply to each of its seven locations, thereby costing the insurer Northbridge $350,000, Ontario Appeal Court has decided. Northbridge General Insurance argued the $50,000 pandemic sublimit was supposed to apply in the aggregate to all seven of the daycare’s locations. A […]

By David Gambrill | April 22, 2022

3 min read

Broker independence is alive and well: IBAO president

Insurance Brokers Association of Ontario (IBAO) president Joseph Carnevale is not concerned about a brokerage’s ownership structure, since he sees it playing no part in whether or not brokers are “trusted advisors” to clients. “Every broker in the country is independent because we always have to put the best interests of our clients ahead of […]

By Jason Contant | April 22, 2022

3 min read

Bank of Canada governor says he won’t ‘rule anything out’ on rates

TORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate path and taming Canada’s out-of-control inflation. Macklem spoke to reporters virtually Thursday from Washington, D.C. […]

By Jason Contant | April 22, 2022

3 min read