MGA acquires Echelon’s surety division
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety...
View ArticleOntario to take over licensing and oversight of tow truck industry
Ontario is taking tow truck services out of the hands of municipalities and requiring tow truck operators to be certified and adhere to a Code of Conduct. “This marks the end of municipal regulation of...
View ArticleHow economic woes hike minor accident claims
Current economic conditions have people stressed, and it’s showing up in personal auto claims, said Jesica Ryzynski, a claims specialist with Mitch Insurance. Minor at-fault accidents among insureds...
View ArticleCan Canada’s P&C industry catch up to NatCats?
In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a...
View ArticleTransport Canada says Tesla recall will affect roughly 193,000 cars in Canada
OTTAWA – Tesla’s recall over its autopilot function will affect about 193,000 vehicles in Canada. Transport Canada says Tesla will provide an over-the-air software update to fix the advanced driver...
View ArticleDo auto clients ask for trouble by hiking deductibles?
During the recent renewal cycle, many personal auto customers opted to increase their deductibles to reduce their annual premiums. Now, those decisions are leading customers who’ve been in accidents to...
View ArticleHow insurers can manage losses as NatCat events ramp up
Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where...
View ArticleIntroducing our 2024 Executive Outlook series
In the 1942 classic film Casablanca, Ilsa Lund, played by Ingrid Bergman, urges the piano player Sam to play the song “As time goes by.” It’s a favourite tune she shares with the lead man in the film,...
View Article2024 Executive Outlook | Ben Isotta-Riches, Aviva Canada
Ben Isotta-Riches, chief distribution officer, Aviva Canada I am cautiously optimistic about 2024. Across the country, the cost-of-living crisis, inflation and climate change continue to affect...
View Article2024 Executive Outlook |Anna McCrindell, Wawanesa Insurance
Anna McCrindell, senior vice president, COO – East, Wawanesa Insurance This year challenged insurers and our broker partners. Inflation and macroeconomic pressures drove up costs, auto thefts reached...
View Article2024 Executive Outlook |Matthew Turack, CAA Insurance, Echelon Insurance,...
Matthew Turack, Group President, CAA Insurance, Echelon Insurance, Orion Travel Insurance Collaboration will be key for the insurance industry in 2024. We are seeing complex issues take hold that...
View ArticleCar dealership fined for not sending premiums for warranties to insurer
An Alberta car dealership selling equipment warranties but not submitting the premiums to the insurer has been fined $85,000 by the province’s insurance regulator. Alberta Insurance Council [AIC] noted...
View ArticleMPI’s Top 5 auto fraud claims of 2023
A customer who claimed amnesia following an auto collision and another who said their symptoms were so severe they were unable to work were among Manitoba Public Insurance’s (MPI) Top 5 fraud claims of...
View ArticleWhy broker commissions are going down
Broker commissions in Canada’s property and casualty insurance industry were down by about 5% to 7% in personal lines last year, as noted in the Canadian Council of Insurance Regulators’ 2022 Annual...
View ArticleMcDougall’s Drayden Insurance acquires Alberta brokerage
Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which...
View ArticleVehicle sales posted biggest annual jump last year since 1997: DesRosiers
TORONTO – Auto sales jumped 11.8 per cent in 2023 compared with the year before as vehicle supply continued to improve, according to DesRosiers Automotive Consultants. The report says it was the...
View ArticleShould insurers help customers build back better…or not at all?
Increased severity and frequency of NatCats has Canada’s P&C insurance ecosystem seeking ways to add resilience to the claims process. This includes build back better initiatives to encourage...
View ArticleNotifying insurer of accident is not the same as making an AB claim: court
Intact Insurance Company won a decision against an insured who notified the insurer of an accident within seven days of his accident, but didn’t apply for accident benefits until almost two years...
View ArticleHow a client’s address change came back to bite his auto insurer
If an auto insurer wants to prove an insured “intentionally” failed to inform it of a move, the insurer should be prepared to provide detailed logs, transcripts or recordings of the conversations the...
View ArticleWTW names head of personal lines for Canada, U.S.
Large brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and...
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