B.C. mayor hopes wildfire evacuees can return to Fort Nelson early next week
Canadian Underwriter Magazine
by David Gambrill
20h ago
Fort Nelson, B.C. — The mayor of the regional municipality that includes Fort Nelson, B.C., that was evacuated due to a threatening wildfire says local officials are pushing for a Monday or Tuesday deadline to start allowing about 4,700 residents home… The post B.C. mayor hopes wildfire evacuees can return to Fort Nelson early next week appeared first on Canadian Underwriter ..read more
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How property lines is shaping up
Canadian Underwriter Magazine
by Alyssa DiSabatino
20h ago
Although capacity and appetite are bouncing back, Canadian insurers remain picky when it comes to selecting risk, particularly in the oft-challenged property lines, according to Aon’s Spring 2024 Insurance Market Update Canada report.   “Overall, there is an expansion in… The post How property lines is shaping up appeared first on Canadian Underwriter ..read more
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What Canada’s P&C industry could pay for NatCats in 2038
Canadian Underwriter Magazine
by David Gambrill
20h ago
If the world misses its targets for limiting global temperatures, Canada’s property and casualty industry could wind up paying 50% more to insure natural catastrophe claims 15 years down the road, Canada’s P&C largest insurer projects. Doing the math, Canada’s… The post What Canada’s P&C industry could pay for NatCats in 2038 appeared first on Canadian Underwriter ..read more
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KSI Engineering Expands its Forensic Engineering Services in Western Canada
Canadian Underwriter Magazine
by Irene
20h ago
TORONTO, ON, MAY 23, 2024/insPRESS/ – In response to the rapid growth the firm is experiencing, KSI Engineering has opened a new office in Edmonton, Alberta, and appointed Dr. Ahmed Farag as the director of its Western Canada operations. The… The post KSI Engineering Expands its Forensic Engineering Services in Western Canada appeared first on Canadian Underwriter ..read more
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P&C insurer makes foray into wealth management
Canadian Underwriter Magazine
by Phil
20h ago
Building on the emerging trend of P&C brokers acquiring financial planning and wealth management firms, insurance company Co‑operators announced its acquisition of Roger Ghent Financial Services. The transaction closed May 13, 2024. Prior to the acquisition, Booklin, Ont.-based wealth advisor… The post P&C insurer makes foray into wealth management appeared first on Canadian Underwriter ..read more
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Axis Insurance acquires Magnes Group, expanding its Canadian presence.
Canadian Underwriter Magazine
by Irene
23h ago
TORONTO, ON, MAY 23, 2024/insPRESS/ – Axis Insurance Managers Inc. (“Axis Insurance”) announced today that it has acquired The Magnes Group Inc. (“Magnes”). Axis Insurance made its initial investment in Magnes in 2015. Founded in 1933, Magnes is a leading… The post Axis Insurance acquires Magnes Group, expanding its Canadian presence. appeared first on Canadian Underwriter ..read more
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Is double entry costing brokers marketshare?
Canadian Underwriter Magazine
by Alyssa DiSabatino
2d ago
If brokers want to keep up with their direct-to-consumer competition — to whom they’ve lost 15% of personal insurance market share over the last 20 years — they need to reduce the time they spend entering clients’ data.   That… The post Is double entry costing brokers marketshare? appeared first on Canadian Underwriter ..read more
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How Alberta can solve capacity withdrawal from its auto market: Intact CEO
Canadian Underwriter Magazine
by David Gambrill
2d ago
Alberta’s cap on rates for good drivers is leading to capacity withdrawal from the province’s private auto insurance market, the chief executive of Canada’s largest insurer reports. And that’s to be expected until the province addresses a root cause of… The post How Alberta can solve capacity withdrawal from its auto market: Intact CEO appeared first on Canadian Underwriter ..read more
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Auto theft leading to multiple claims, coverage issues
Canadian Underwriter Magazine
by Jason Contant
2d ago
Your clients may find themselves without comprehensive auto insurance coverage if they submit multiple claims within a certain timeframe, warns Adam Mitchell, CEO of Ontario brokerage Mitch Insurance. This situation may come up if insureds have their vehicles stolen multiple… The post Auto theft leading to multiple claims, coverage issues appeared first on Canadian Underwriter ..read more
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London Drugs unwilling to pay ransom demanded by hackers
Canadian Underwriter Magazine
by Jason Contant
2d ago
RICHMOND, B.C. – Retailer London Drugs says it is “unwilling and unable” to pay a multimillion-dollar ransom to cybercriminals who claim to have stolen data in a hacking attack that recently shut down its stores for more than a week.… The post London Drugs unwilling to pay ransom demanded by hackers appeared first on Canadian Underwriter ..read more
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