Industry

What higher interest rates mean for the P&C industry

When the Bank of Canada hiked interest rates a full half point on Wednesday, at first blush, it seemed Canada’s P&C industry might benefit from the inflation-curbing measure by garnering greater returns on their investments. But it’s not that straightforward, says an industry financial expert. “Rising interest rates, like the 50-basis-point (0.5%) rise [Wednesday], are […]

By David Gambrill | April 14, 2022

2 min read

Blizzard closes schools, shuts roads in parts of Manitoba and Saskatchewan

WINNIPEG – Heavy snow and strong winds were combining in a spring blizzard expected to last three days across southern Manitoba and a section of southeastern Saskatchewan. Schools were closed in many areas, roads were shut down and most flights at Winnipeg’s international airport were cancelled Wednesday. The National Hockey League also postponed a scheduled […]

By Jason Contant | April 14, 2022

2 min read

Regulators’ principles of conduct: Are ‘MGAs’ the same as retail brokers?

The Financial Services Regulatory Authority of Ontario (FSRA) is proposing to adopt principles of conduct for insurance intermediaries, including adjusters, brokers, MGAs and third-party administrators. Whether the principles apply to MGAs in the same way as retail brokers is open to question. Retail brokers deal with clients directly, while MGAs are not consumer-facing. MGAs can […]

By Jason Contant | April 13, 2022

4 min read

Bank of Canada raises key interest rate and warns further hikes still to come

OTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy interest rate by half a percentage point to one per cent on Wednesday. Bank of […]

By Jason Contant | April 13, 2022

4 min read