The Manitoba government is planning to end its ban on homegrown recreational cannabis — a move that would leave Quebec as the only province with such a restriction. “We’re just allowing Manitobans to have the same rights that people in…
While a new key performance indicator (KPI) under IFRS 17 was intended to replicate the well-known combined ratio, this equivalence might not hold true in practice when all components and complexities of a real profit and loss statement (P&L) are…
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 technology to make driving easier, safer…
Fixing the labour shortage plaguing Canada’s P&C insurance industry is officially Job 1 for the broker channel, Canadian Underwriter’s 2024 National Broker Survey shows. Failing to do that, survey respondents say, puts brokerages at risk of sustaining collateral damage in…
Insurers and governments need to work closer together to better educate consumers on why auto insurers use territorial ratings, claims experts say. In addition, governments need to invest in better supports and infrastructure so vulnerable communities aren’t disproportionately impacted by…
Canada’s property and casualty insurers are starting to discuss a ‘Plan B’ for an earthquake backstop, given the federal government’s slow progress on establishing a national flood insurance program. Insurance Bureau of Canada president and CEO Celyeste Power talked about…
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, and Canada, have initiated climate policies mandating 100% zero-emission vehicle (ZEV)…
Susanne Langan first noticed the Burgess Creek wildfire from her home in British Columbia’s Cariboo region on Saturday afternoon as a distant, thin column of smoke. But as winds picked up that night, the flames became more aggressive. “I could…
For the past 30 years, Canadian P&C insurers, brokers and law enforcement have trusted Accident Support Services International (ASSI) to help them effectively manage minor vehicle collisions. Today, ASSI is just as well known for their efforts in curbing Canada’s…
Globally, the property and casualty insurance industry may be underestimating the vulnerability of property that uses technology to adapt to climate change, a speaker told attendees at the 38th Swiss Re Outlook breakfast held in Toronto last Tuesday. Also, property…
The Town of Hay River has been through a lot over the last couple of years, having first contended with serious flooding in 2022 and then devastating wildfires in 2023. With the memories of those crises still fresh in the…
Lloyd’s Canada president and attorney-in-fact Marc Lipman has been appointed president of Lloyd’s Americas, effective Sept. 1. Lipman, former chief operating officer of AIG Canada, joined Lloyd’s Canada in June 2020. “Under his leadership, Lloyd’s Canadian business has been reinforced…