2024 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 |Bernard McNulty, Allianz Commercial
Bernard McNulty, Chief Agent, Canada, Allianz Commercial Many challenges our industry faced in 2023 will continue to be headwinds in 2024. These include climate change/natural catastrophes, cybercrime...
View Article2024 Executive Outlook |Mathias Sommer, Zurich Canada
Mathias Sommer, COO, Zurich Canada As we look ahead to 2024, leveraging data and digitalization will be critical in meeting rapidly evolving customer expectations. Today’s consumer wants a seamless,...
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 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 ArticleHow firms are training tomorrow’s talent
Intermediate and senior underwriting positions are opening up across the industry. That has firms looking for ways to cultivate junior underwriters into successive roles. The issue, though, is that...
View ArticleThe rise and fall of the P&C industry’s financial results
As the Alan Parson Project once sang, “What goes up, must come down,” and predictions about industry profitability made two years ago are unfortunately coming true — including a marked downward trend...
View ArticleHow Ontario drivers have responded to DCPD opt-out option
For all the discussion it provoked within brokerage circles, one of the Ontario government’s ideas for auto insurance reform appears to have fallen flat with drivers, albeit it’s only in the first...
View ArticleHow reconstruction companies are improving repair timelines
A shortage of tradespeople isn’t making it easy for the restoration industry to recover from extended repair cycle times during the pandemic. While cycle times are starting to improve, frequent NatCats...
View ArticleFeds heed auto insurers’ call for auto theft summit
Canada’s federal government has answered the call by the nation’s auto insurers to promote a whole-of-society solution to a mounting auto theft crisis. A National Summit on Combatting Auto Theft will...
View ArticleLength of rental for auto collisions down slightly
Auto insurers and their customers will be relieved to know the average length of vehicle rentals for collision-related claims across Canada has decreased, albeit gradually, from the same time last...
View ArticleEditorial | Public order laws and auto insurance don’t mix
Anyone seeking clarity on how the federal government’s Emergencies Act was supposed to apply to auto insurance cancellations won’t find it in the Federal Court of Canada’s latest ruling. The Federal...
View ArticleHow auto theft will affect insurance in 2024
Although the industry is trying to pump the brakes on auto theft across Canada, the national crisis is bound to get worse before it gets better, industry sources predict. It means higher premiums for...
View ArticleHow one brokerage is making good risks out of its urban taxi clients
With its taxi clients left in the lurch from insurer market withdrawals, one regional brokerage ventured to improve taxi fleet safety. After conducting research and leveraging data, CMB Insurance...
View ArticleAlberta latest rate cap is underway: but what’s next for reform?
As Canada’s auto insurers await direction from the Alberta government on the province’s long-term reform solutions for auto insurance, industry advocates have suggested short-term options to the auto...
View ArticleHub’s latest Ontario brokerage acquisition
Hub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is...
View ArticleMaking clients valuable to your brokerage for the long term
When it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C...
View ArticleCU Poll: Ontario’s DCPD auto reform widely viewed as a flop
Ontario’s property and casualty insurance professionals have widely panned the provincial government’s latest move to make mandatory Direct Collision Physical Damage (DCPD) coverage optional to reduce...
View ArticleHow Intact plans to approach auto pricing in 2024
Intact delivered a combined ratio of 94.7% in its auto insurance business in 2023, and the company expects to post a similar auto result in 2024 as well, Intact Financial Corporation CEO Charles...
View ArticleWhat the P&C industry should tell clients about preventing auto theft
While the federal government is chipping away at a plan to combat auto theft nationwide, P&C professionals can advise their clients now to help them protect their vehicles, experts said during a...
View ArticleBrokers: how to advise rideshare drivers on their deductibles
Drivers working for rideshare and delivery companies must be careful when setting deductibles on personal auto coverage. And they need to make sure their personal insurers know they’re doing rideshare...
View ArticleWhat commercial and personal lines brokers make in 2024
Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts,...
View ArticleClass-action lawsuit by taxi drivers against Quebec government begins
A trial opens Tuesday in a class-action lawsuit accusing the Quebec government of wiping out hundreds of millions of dollars in the value of taxi permits by allowing ride-hailing company Uber to...
View ArticlePolice investigate multi-tractor crash as carbon-levy protests continue in...
Mounties in Alberta say they’re keeping traffic moving on the Trans-Canada Highway despite a roadside carbon-levy protest, and say five large farm tractors have already caused a multi-vehicle crash....
View ArticleHow insurers verify truck fleet sizes before insuring them
Commercial truck fleets trying to get more favourable insurance rates by only reporting the trucks on the road, and not the ones on their lots, might find themselves outwitted by the industry’s...
View ArticleWhy insurers urge better training for new commercial truck drivers
An urgent need exists for more comprehensive training of new commercial truck drivers, says a new report commissioned by the Insurance Bureau of Canada. “Canada’s trucking sector is critical to the...
View Article3 building blocks for using new commercial lines tech
Technological breakthroughs in commercial lines are helping brokers win over Canadian business owners seeking insurance coverage. Brokers can do three things to stand out in this crowded, competitive...
View ArticleHow new commercial truck drivers can get better insurance rates
Mandatory entry-level training (MELT) for new commercial truck drivers needs to be implemented across Canada, and trucking companies must follow this up with mentorship and onboarding programs, a new...
View ArticleWhat EV accidents mean for auto insurance pricing
Fast-paced electric vehicle (EV) sales could sharply change the auto insurance pricing dynamic, says a new report from Morningstar DBRS. “More than 15 countries, including the United Kingdom, Japan,...
View ArticleHow clients’ auto data is being breached by thieves, hackers
Your clients’ cars store a lot of their personal data — from biometrics to driving habits, phone contacts, and more — and that can expose them to cyber-attacks. Modern cars use sensors and connected...
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