Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
One80 Intermediaries Acquires Canadian MGA, Strategic Underwriting Managers
Aug 12 2020 // One80 Intermediaries, a Boston-headquartered wholesale broker, program manager, and insurance aggregator, announced it has acquired Strategic Underwriting Managers Inc. (SUM), a Canada-based managing general agent. Terms...
Gallagher Buys Canada Retail Broker Insight Insurance
Aug 6 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Edmonton, Alberta-based Insight Insurance & Risk Management Ltd. Terms of the transaction were not disclosed. Founded...
Guy Carpenter Appoints Askew as Canada President and CEO, Succeeding Callahan
Aug 5 2020 // Guy Carpenter & Co., the reinsurance broker and unit of Marsh & McLennan Cos., announced the appointment of Peter Askew as president and CEO, of Guy Carpenter’s Canadian business, with immediate...
Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact
Jul 31 2020 // Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines...
Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline
Jul 23 2020 // Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous...
Canadian Insurer Manulife Plans to Increase Diversity by 30% Within 5 Years
Jul 20 2020 // Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at...
Hailstorm in June Was One of Canada’s Costliest Thunderstorm-Related Events: Aon
Jul 17 2020 // Canada saw powerful a series of powerful thunderstorms in June, which brought hail greater than the size of tennis balls and caused extensive damage and flooding throughout the greater Calgary metro region, said Aon in its...
Canadian Insurtech MGA Foxquilt Raises Seed Funding to Develop Small-Biz Platform
Jul 9 2020 // A Canadian insurtech focused on small business insurance said it raised $3.5 million in seed financing. Foxquilt, a Toronto-based MGA startup, said the funding will help it become a full-service insurance provider with a...
Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits
Jul 8 2020 // Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and...
New Business Interruption Insurance Class Action Launched in Canada
Jul 7 2020 // Koskie Minsky LLP and the Merchant Law Group have launched a proposed national class action lawsuit alleging that Canadian insurance companies have breached their contracts with business owners by refusing to pay for...
Canada’s Supreme Court Allows Class Action Seeking Employee Status for Uber Drivers
Jun 26 2020 // OTTAWA— Canada’s Supreme Court on Friday ruled in favor of a driver in a gig economy case that paves the way for a class action suit calling for Uber Technologies Inc. to recognize drivers in Canada as company...
Canadian Privacy Panel Finds LifeLab’s Data Breach Was One of Biggest
Jun 26 2020 // Canadian laboratory testing company LifeLabs failed to adequately protect sensitive health information of millions of people, resulting in one of the biggest data breaches in the country last year, privacy commissioners...
Millions of Abandoned Oil and Gas Wells Pose Environmental, Health Risks
Jun 23 2020 // In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The fumes made the retired couple feel nauseous, dizzy, and short of...
Marsh JLT Specialty Expands Renewable Energy Team with Appointments in Canada, UK
Jun 15 2020 // Insurance broker Marsh announced two senior appointments within Marsh JLT Specialty’s Renewable Energy team, as part of its continued expansion in the global renewable energy sector. Joanne Silberberg has been...
Cryptocurrency Firm Quadriga Collapsed Due to Late Founder’s Ponzi Scheme: Regulator
Jun 15 2020 // Last year’s collapse of Canadian cryptocurrency trading platform QuadrigaCX was due to a Ponzi scheme operated by founder Gerald Cotten, who died suddenly in December 2018, the country’s biggest securities...
It’s Business as Usual for Genworth After Canadian Rule Change for Mortgage Insurance
Jun 9 2020 // Genworth MI Canada Inc, which runs the largest Canadian private residential mortgage insurer, said on Monday it has no plans to change its underwriting policy for debt service ratio limits, minimum credit score and...
Lloyd’s Canada Appoints Former AIG Executive Lipman as President
Jun 2 2020 // Lloyd’s announced the appointment of Marc Lipman as president, Lloyd’s Canada, and attorney-in-fact (AIF) for Lloyd’s Underwriters. Lipman assumes the role of AIF from Lisa Duval, who took the position...
Coalition Launches Cyber Insurance and Security Coverage in Canada
May 22 2020 // Coalition, the cyber insurance and security managing general agent, announced it is offering its products and services to Canada-based businesses. The San Francisco-based company described the offering as proactive...
Johnson & Johnson to No Longer Sell Talc-Based Baby Powder in U.S., Canada
May 20 2020 // Johnson & Johnson on Tuesday announced that it would stop selling its talc-based Johnson’s Baby Powder in the United States and Canada, making the decision after a consumer products “portfolio reassessment...
Insurers Zurich and Chubb Raise Cover for Canada Oil Sands Pipeline: Filings
May 13 2020 // Major insurers Zurich and Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of crude oil and...
