Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Manulife to Begin Offering Canadians COVID-19 Travel Insurance
Sep 16 2020 // Canadian insurer Manulife Financial Group will restore some coverage for coronavirus-related trip interruptions in a new travel insurance policy that also includes COVID-19 in its emergency medical coverage. The policy...
Summer Storms Bring Alberta’s Tab for Severe Weather Insurance Claims to $2 Billion
Sep 11 2020 // Severe weather events have hit Alberta hard over the spring and summer months. Four events from April to August brought the insured damage total for natural catastrophes in the province to $2 billion, based on surveys from...
COVID-19 Takes Toll on Canada’s Auto, Life Insurers
Sep 10 2020 // Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its...
Actuaries Index: Extreme Climate Conditions Hit New High in Winter 2019-20
Aug 27 2020 // A multiyear trend of increasing climate condition measurements from the U.S. and Canada hit a new high in winter 2019-2020, according a new Actuaries Climate Index released this week. The quarterly data’s key metric...
European Union Safety Agency to Start 737 MAX Flight Tests
Aug 27 2020 // The European Union Aviation Safety Agency (EASA) said on Thursday it plans to begin flight tests of U.S. planemaker Boeing Co.’s 737 MAX plane in Vancouver, Canada, in the week starting Sept. 7. The test flights will...
Coronavirus Erodes Countries’ Economic Resilience; Global Insurance Gaps Widen
Aug 26 2020 // The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same...
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...
