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The Insurance Corporation of British Columbia (ICBC) announced on Thursday that it will submit its 2016 basic rate application to the British Columbia Utilities Commission, asking for a 4.9% increase to basic insurance rates – lower than last year’s 5.5% increase. If approved, this will mean an average increase of $3.50 per month for personal […]
By Canadian Underwriter | August 26, 2016
4 min read
Six months after a bill proposing to regulate home inspectors was tabled in the Ontario legislature, the provincial government said Wednesday it plans to “introduce legislation this fall that would, if passed, regulate the province’s home inspection industry.” Bill 165, the Licensed Home Inspectors Act, has already passed second reading and was referred March 3 […]
By Canadian Underwriter | August 18, 2016
3 min read
Some aviation firms “are not effectively managing their safety risks,” the Transportation Safety Board of Canada warned Wednesday as it released a report into an incident near Montreal that injured a pilot and three passengers in a Beechcraft King Air 100. TSB – a separate organization from Transport Canada – “has been calling” on Transport […]
5 min read
Millennial small business owners in the United States are more likely than Gen X or Baby Boomers to have plans for natural disasters, cyberattacks, retirement benefits and even business succession, a new study has found. The second annual Small Business Indicator, a national study conducted online by Harris Poll, surveyed 502 U.S. small business owners […]
2 min read
Western Financial Group and its board of directors announced on Wednesday that Patrick Bieleny has been appointed as the organization’s president and chief executive officer. Bieleny (pictured left) succeeds Paul Taylor, who retired on July 4, Western Financial Group said in a press release. Bieleny will assume his role effective Aug. 22, said Western, a […]
By Canadian Underwriter | August 17, 2016
The Ontario Municipal Insurance Exchange (OMEX) announced on Thursday that it will suspend Reciprocal underwriting operations effective immediately “to allow it time to fully assess the needs of Ontario municipalities with a view to redesigning its products to better service the needs of its future members.” As a result of this decision, OMEX will immediately […]
By Canadian Underwriter | August 11, 2016
The Toronto Insurance Conference (TIC) is reminding broker members, partners and staff that the deadline to submit applications for the annual TIC Scholarships Program is just around the corner. Up to $15,000 in scholarships will be available as part of the fourth edition of the program, managed by the Insurance Institute of Ontario, notes a […]
By Canadian Underwriter | August 9, 2016
National insurance managing general agency Totten Insurance Group announced on Wednesday that it has acquired the shares of Canadian Resources Insurance Solutions, Inc. (CRIS), a Sudbury, Ont. based insurance wholesaler. Terms of the acquisition were not disclosed, but Hub International Limited said in a press release that this strategic acquisition expands the MGA’s footprint in […]
By Canadian Underwriter | August 3, 2016
Lackner McLennan Insurance Ltd. announced on Tuesday that it has acquired Erb and Erb Insurance Brokers Ltd. Waterloo, Ont.-based Lackner McLennan (LMI) said in a press release that the acquisition occurred on Friday. Kitchener, Ont.-based Erb and Erb and Lackner McLennan will continue to operate as their own entities for the “next few years to […]
By Canadian Underwriter | August 2, 2016
Mutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, reversing some of the declines of previous decades, according to Swiss Re’s latest sigma report. Released on Tuesday, Mutual insurance in the 21st century: back to the future? also found that the […]
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