Behind the scenes of Hub’s latest Canadian acquisition
In a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio...
View ArticleBrokerage, carrier partner up to offer digital auto coverage
Square One Insurance Services and Zurich Canada have partnered to offer personal auto insurance to Ontario drivers, with a Quebec and Alberta rollout planned for early 2024. “What sets this offering...
View ArticleDoes your client know their car is at a high risk for theft?
Canada’s P&C insurance industry is urging drivers to lower their own risk while it contends with high auto theft losses across the country. The problem is, 40% of drivers don’t know if they’re...
View ArticleHow Intact’s third quarter results shaped up
Intact saw premium growth in 2023 Q3, but its profitability took a hit because of inflation and the Canadian wildfires, the company reported. Intact saw single-digit premium growth in its personal and...
View ArticleBrokerLink completes triple acquisition
BrokerLink has expanded its well-established footprint in the Greater Toronto Area with the acquisition of brokerages All-Risks Insurance (Burlington), Dowhaniuk Insurance and Heinsoo Insurance....
View ArticleThe Top 10 stolen cars in Canada
For the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association. The auto insurance fraud prevention organization today announced its Top 10 Most...
View ArticleWhy more Canadian drivers are using winter tires
Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and...
View ArticlePrice tag for the insured wildfire losses in Northwest Territories
Insured wildfire damage in Hay River and Yellowknife, NWT, during the summer — which led to Canada’s largest evacuation ever — cost the P&C insurance industry a total of more than $60 million,...
View ArticleIBC calls for feds to lead national auto theft task force
Canada’s auto insurers say the country needs a National Task Force on Stolen Vehicles, and they are calling on the federal government to play a leadership role in tackling record-high auto thefts....
View ArticleAuto insurance: How you can live with someone but not be in a “household”
A passenger seriously injured in an auto collision caused by an uninsured driver is not considered an “insured” under her father’s or boyfriend’s auto policies, even though she was living with them at...
View ArticleWhat Ontario drivers might save by dropping DCPD coverage
Ontario brokers are questioning the value of the Ontario government’s forthcoming new law allowing drivers to drop out of direct compensation property damage (DCPD) coverage for their cars. DCPD...
View ArticleHow auto insurers responded to Ontario’s auto fraud announcement
Ontario auto insurers are commending the provincial government for committing $18 million over three years to help police services combat and prevent auto theft. “Last year marked the first time in...
View ArticleCan car dealerships manage insurance risks from vehicle thefts?
Car thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take...
View ArticleAviva Canada to acquire “capital light” MGA
Aviva Canada is acquiring Optiom O2 Holdings Inc., a managing general agent (MGA) that specializes in vehicle replacement insurance in Canada. The $170-million Cdn deal is subject to regulatory...
View ArticlePsychologist fined over accident benefits statements
An Ontario registered psychologist has been fined $15,000 and suspended from practice for a total of 24 months after a regulator found he made misleading accident benefits statements to insurers. The...
View ArticlePolice, insurers collaborate to dismantle auto theft ring
Ontario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario...
View ArticleB.C. wrings out after atmospheric river brings torrential rain and wind
VANCOUVER – Residents in coastal and southern British Columbia are mopping up after an atmospheric river brought torrential rain and wind, while disrupting travel and utility services. The B.C. River...
View ArticlePrivate equity firm acquires digital brokerage
Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers...
View ArticleHow new vehicle tech is changing the auto theft equation
There’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals...
View ArticleWhy you can expect more insurance regulation next year
As the hard market proceeds apace in the Canadian P&C insurance industry, a projected economic slowdown in 2024 could invite more insurance regulation, since Canadians will find it harder to pay...
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