Canada News

BHSI Enters Canada Marine Market; Chubb’s Rider Tapped as Sr. U/W

Berkshire Hathaway Specialty Insurance (BHSI) announced it is introducing inland and ocean marine insurance in Canada and has named Gord Rider as senior marine underwriter. “We are pleased to welcome Gord to our team of marine specialists,” said John Evans, …

Canada’s CMW & Capri Insurance Services Announce Merger

CMW Insurance Services Ltd. and Capri Insurance Services Ltd. announced they merged on Jan. 1, 2017 to create “one of the largest insurance brokerages and risk management firms in Western Canada.” The two independent and employee-owned British Columbia-based companies have …

Canada’s 2016 Nat Cats Bring Record Insured Damages of $3.7B

Insured damages from Canadian natural catastrophes during 2016 topped C$4.9 billion (US$3.7 billion) – smashing the previous annual record of C$3.2 billion (US$2.4 billion) set in 2013, according to the Insurance Bureau of Canada. “From the wildfires that swept through Fort McMurray in May to the …

Hub Int’l Buys Canada’s Mainline Insurance Brokers & Affiliated Firms

Hub International Ltd., the Chicago-based global insurance brokerage, announced it has acquired Mainline Insurance Brokers Inc., Indian Head Agencies (1980) Ltd., R&J McKay Agencies Ltd. and Cathedral Insurance Services (1995) Ltd. — all known as Mainline. Terms of the acquisition …

Economical Completes Purchase of Canada’s Largest Pet Insurer

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed …

33% of Canadians Admit to ‘Dangerous Habit’ of Texting at Red Lights

One third (33 percent) of Canadians admit they have texted while stopped at a red light in the last month, reveals a poll from the Canadian Automobile Association (CAA). That is despite evidence that your mind could still be distracted …

Canada to Ban All Products Containing Asbestos by 2018

Canada is moving to ban all products containing asbestos by 2018. The comprehensive ban will include construction materials and brake pads that currently use the cancer-causing agent. Canada closed its last asbestos mines a decade ago, but had obstructed international …

Major Canada Earthquake Could Lead to Widespread Insurer Insolvencies: Report

A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of Canada report. “As the earthquake in New Zealand earlier this month reminds …

October Floods in Atlantic Canada Cost $100M-Plus in Insured Damage

A tropical moisture system resulting from Hurricane Matthew swept through Atlantic Canada last month, resulting in more than $100 million in insured damage, according to Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe Indices and Quantification Inc. (CatIQ). A cold front interacting …

Chubb Launches Liability Coverage Suite to Protect Family Offices in Canada 

Chubb has launched a new suite of insurance coverages to help family offices* manage their liability exposures. Called the “Family Office Amplifier,” Chubb said the product addresses “the wide spectrum of family office risks including professional liability, trustee liability and …