InsuranceHires

How can consolidators afford to buy brokerages when interest rates on bank loans to finance deals have steeply increased? Firms that are actively engaged in brokerage buying and selling told CU they have become more selective. “We are getting a…

The post What a buyers’ market means for brokerage M&A appeared first on Canadian Underwriter.

CALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued…

The post Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls appeared first on Canadian Underwriter.

The 2023 Atlantic hurricane season has officially come to an end, ranking fourth for the most named storms in a year since 1950. The above-normal season, which officially ended Nov. 30, saw 20 named storms, including seven hurricanes and three…

The post How this year’s hurricane season ranks appeared first on Canadian Underwriter.

Economic uncertainty is abound in the P&C industry, and that means companies should take extra care to properly price their exposures, experts said during a Canadian Underwriter webinar last Wednesday. And those on the ground are feeling the precariousness as much…

The post Where P&C experts stand with their economic outlooks appeared first on Canadian Underwriter.

Voir français ci-dessous   MISSISSAUGA, ON, DECEMBER 1, 2023/insPRESS/ – FIRST ONSITE Property Restoration, Canada’s leading property restoration company, has opened a new branch in Regina, Saskatchewan. This branch location represents the ninth capital city location for First Onsite in…

The post FIRST ONSITE expands in Saskatchewan, opening new branch in Regina appeared first on Canadian Underwriter.

With its vast expanse of nearly 10 million square kilometers (3.9 million square miles), Canada stands as the world’s second-largest country by land area. It boasts a multitude of diverse industries, each brimming with unique risks, spanning across every province…

The post <span id="paidTag" class="btn btn-info btn-xs tag-label">Paid</span> Fostering Resilience: The Crucial Role of Trust in Your Insurance Partner appeared first on Canadian Underwriter.

The Bank of Canada announced it would raise interest rates to 5% in October to help control inflation, but the P&C industry warns those high interest rates can wreak havoc on insurers’ investment portfolios. It’s not all doom and gloom,…

The post What high interest rates mean for P&C investments appeared first on Canadian Underwriter.

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 police force reported Wednesday.  As part of the investigation dubbed Project…

The post Police, insurers collaborate to dismantle auto theft ring appeared first on Canadian Underwriter.

Competition for available qualified underwriting talent is fierce. “We’ve got candidates in the mix that will often have two or three offers in hand,” said Stefan Rolfe, associate director of insurance at Impact Recruitment. “And they can often bounce one…

The post How to recruit underwriters when job candidates get multiple offers appeared first on Canadian Underwriter.

TORONTO – Government impersonation is one of the most common financial scams plaguing people across Canada, a new survey from payment processing company Interac Corp. has found. The report, released Tuesday, said 42 per cent of survey respondents reported dealing…

The post Government impersonation, phishing are top financial scams, Interac survey finds appeared first on Canadian Underwriter.

TORONTO, ON, NOVEMBER 30, 2023/insPRESS/ – CSIO congratulates Northbridge Insurance for being the first member to earn CSIO’s Application Programming Interface (API) Security Standards Certification. With this Certification, Northbridge has shown its commitment to being an effective and efficient API partner…

The post Northbridge Insurance Becomes the First Member to Earn CSIO’s API Security Standards Certification appeared first on Canadian Underwriter.

Canadian Defence Lawyers invites you to join us at our  first major conference on Class Action in Halifax! Program Chairs: Jillian Kean & Daniel Wallace, McInnes Cooper Keynote Presentation: The Art and Science of Persuasion: Top Ten Points Keynote speaker is…

The post CDL – Class Action Symposium Halifax appeared first on Canadian Underwriter.

CHARLOTTETOWN — The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for…

The post P.E.I. utility seeks rate hike for $37M in post tropical storm Fiona losses appeared first on Canadian Underwriter.

A Nova Scotia court awarded more than $225,000 against a home insurer after its telephone agent placed coverage for a couple’s newly purchased house, when in fact it was unclear if the property was vacant, thus triggering a policy exclusion…

The post ‘Vacancy’ confusion in a home insurance policy: what the court said appeared first on Canadian Underwriter.

An Airbnb renter can be considered an insured under a strata’s insurance policy but may not necessarily rely on other liability protections in a strata’s bylaws, a B.C. Supreme Court justice determined in Strata Plan VR 2213 v Schappert, 2023…

The post Are short-term renters covered by condo insurance? appeared first on Canadian Underwriter.

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 Financial Services Regulatory Authority of Ontario (FSRA) has imposed…

The post Psychologist fined over accident benefits statements appeared first on Canadian Underwriter.

TORONTO, ON, NOVEMBER 29, 2023/insPRESS/ – Melissa Casas Jaramillo has joined the Canadian environmental investigation team of EFI Global as Intermediate Environmental Advisor for indoor air quality (IAQ). In her new role she will work with Dr. Glenn Wood, CIH,…

The post Melissa Casas Jaramillo joins EFI Global appeared first on Canadian Underwriter.

Canada’s auto theft rates have reached crisis levels. With provinces across the country experiencing double digit increases in the first half of this year, the industry is estimating $1 billion in losses for 2023. The financial and emotional stress associated…

The post <span id="paidTag" class="btn btn-info btn-xs tag-label">Paid</span> Uniting industries to tackle the auto theft crisis appeared first on Canadian Underwriter.

CHARLOTTETOWN – The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for…

The post Privately-owned PEI utility seeks rate hike after Fiona losses appeared first on Canadian Underwriter.

Selectpath Insurance, a Navacord brokerage, has partnered with Myers Insurance to enlarge the southwestern Ontario presence of each brokerage. Headquartered in Wallaceburg, Ont., and with an office in Corunna, Myers Insurance is a second-generation multi-lines brokerage run by president Jim…

The post Merger creates scale for two Ontario brokerages appeared first on Canadian Underwriter.

Reinsurers have their ears to the ground on climate change losses, and Canada’s record wildfire season is adding to the heat, according to industry experts.   But while reinsurers are keeping a close watch on wildfire risk, tallied wildfire losses…

The post How Canada’s wildfire season will shape reinsurance renewals appeared first on Canadian Underwriter.

Nicholas Hudescu is a rarity in the insurance industry. The 23-year-old attended Wilfrid Laurier University, earning a Bachelor of Business Administration degree specializing in insurance and risk management. While there, he joined the student-run Laurier Insurance and Risk Association (LIRA)…

The post Addressing a shortage of qualified commercial underwriters appeared first on Canadian Underwriter.

Event Date & Time: Thursday, December 7, 2023 | 5:00 – 7:30 pm PDT Location: Whiski Jack’s Pins & Pints | West Kelowna BC Register to bowl! Or register as a Mingler just for appies and networking! Don’t have a…

The post IIBC – Winter Bowl Mingle 2023 appeared first on Canadian Underwriter.

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 approval and is expected to close in the first quarter of…

The post Aviva Canada to acquire “capital light” MGA appeared first on Canadian Underwriter.

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 vehicles while their owners are asleep.…

The post Can car dealerships manage insurance risks from vehicle thefts? appeared first on Canadian Underwriter.

MONTREAL – The Lion Electric Co. says it is cutting 150 jobs or about 10% of its total workforce in a move to reduce costs and improve its ability to reach its profitability objectives. Lion Electric chief executive and founder…

The post Electric truck/bus maker cuts jobs appeared first on Canadian Underwriter.

Don Thompson has been appointed Westland Insurance Group’s new chief operating officer (COO), the brokerage announced.   Thompson will assume the role effective January 1, 2024. He has over 30 years of experience in the P&C insurance industry and is…

The post Westland appoints new COO appeared first on Canadian Underwriter.

For a decade or more, the business case for companies to effectively manage their exposures to the myriad risks that accompany a warming planet has been growing increasingly clear. Leveraging digital tools to better understand climate risk and its interplay…

The post <span id="paidTag" class="btn btn-info btn-xs tag-label">Paid</span> How do I help my clients leverage digital tools to manage their climate risk? appeared first on Canadian Underwriter.

TORONTO – An October cyberattack on Canada’s largest public library system that brought down its website and likely exposed sensitive employee information will keep some services offline into 2024. The Toronto Public Library says service will start to be restored…

The post Impact of cyber attack on Canada’s largest library system appeared first on Canadian Underwriter.

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 history when Canada’s insurers paid over $1 billion in claims…

The post How auto insurers responded to Ontario’s auto fraud announcement appeared first on Canadian Underwriter.