News

Advisors to property and casualty insurers are seeing signs of the P&C industry’s financial people burning out after a gruelling period of implementing the new IFRS-17 accounting standards, a tax expert observes. And so, companies may wish to pause before…

Talent acquisition is the top broker concern for 2024, with 69% saying it’s the channel’s biggest challenge, Canadian Underwriter’s 2024 National Broker Survey shows. After that, a cluster of other industry conundrums keep Canada’s brokers counting sheep. Coming in at second…

B.C. libraries have been targeted by a hacker who demanded a ransom or they would release user data that includes the phone numbers and email addresses of some clients. The Cariboo Regional District says its library was among those involved,…

Lengthy wait times for auto repairs over the past three years, sparked by supply chain problems and other factors, have cost insurers a bundle, especially if clients have generous allocations for rental cars. Over the past few months, emerging evidence…

British Columbia’s auditor general says his office is doing a review of the province’s response to the 2021 wildfire that devastated the community of Lytton, B.C. Michael Pickup says in a video statement that the report will focus on the…

A very strong fourth quarter in 2023 turned an ‘average at best’ year into quite a good year for Canada’s P&C insurance companies, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC).  “Reflecting on the…

While insurtech funding dipped below US$1 billion in 2024’s first quarter — its lowest level in four years — AI-centered and distribution-focused firms are getting the lion’s share of deals, according to a new report by Gallagher Re.   Funding…

Canadian home and auto insurance premium rates continue to increase year over year, per the 2024 Q1 results in the Applied Rating Index. “We continue to watch the market trends as premium renewal rates for both personal auto and personal…

Editor’s Note: This story has been updated to include comments from Insurance Brokers Association of Alberta.   Canada’s national insurer association has expressed deep concern about an Alberta government-commissioned Oliver Wyman report, which touts public auto insurance as the reform…

If you merge or acquire a new brokerage, make sure your brokers have the proper licences to serve the out-of-province insurance needs of any new clients absorbed into the business, a recent broker regulator decision states. Insurance Council of B.C.…

Canada’s auto theft crisis remains in full swing, with some insurers reporting cases of consumers having the same vehicle make and model stolen multiple times. “This isn’t just an isolated case,” says Daniel Ivans, a RatesDotCa insurance expert and licensed…

Ottawa’s slow progress to remediate contaminated sites in the North is leaving Indigenous Peoples at risk and raising the government’s own financial liability for the polluted areas, environment commissioner Jerry DeMarco said Tuesday in a new audit.  DeMarco’s probe found…