Insurable Interest Canadian Insurance Blog

Toronto, ON (Jan. 14, 2025) – Canadian Broker Network (CBN), Canada’s leading network of independent insurance brokers, is pleased to welcome Sutherland Insurance, from Guelph, Ontario, as its newest member. “Joining CBN will provide improved carrier relationships, and industry-leading best practices, enabling us to better serve our clients and expand our reach. By leveraging the network’s collaborative resources and operational support, we aim to streamline workflows, win key accounts, and position ourselves as a stronger, more innovative player in the Ontario market and beyond. Further to that, the tech stack and data analysis contributions we can share will only make us all stronger,” said Zac Sutherland, President at Sutherland Insurance. As a new member of our network, Sutherland Insurance continues to operate independently serving their local community but gets the power and potential from their CBN peers, their new strategic partners. “We are excited to welcome Sutherland to our expanding CBN community,” said Lorie Phair, President of CBN. About the Canadian Broker Network Canadian Broker Network (CBN) is an alliance of leading independent insurance brokerages representing more than 30 member firms with $3.5 billion in property casualty premiums, as well as employee benefits and life and financial services, with over...

Toronto, ON (Jan. 13, 2025) – CSIO is pleased to announce Wawanesa Insurance has achieved CSIO’s eDocs Certification by successfully programming the updated eDocs Standards. This ensures that all of Wawanesa’s eDocs reflect the updated codes and descriptions. Wawanesa’s Certification confirms their ability to seamlessly send the updated eDocs codes and descriptions to Broker Management Systems (BMS). As the BMS vendors have deployed the updated eDocs into production, Wawanesa’s brokers will receive clearly labelled eDocs in their BMS. This eliminates the extra step of opening each eDoc to identify the nature of a document. Wawanesa’s eDocs Certification highlights their continued support for brokers, resulting in significant time savings and improved workflow efficiency. “We understand how busy brokers are, which is why, as part of our commitment to being a trusted partner, Wawanesa continues to invest in technological solutions designed to make their lives easier,” said Cam Muckosky, Vice President, Digital Delivery at Wawanesa. “We’re proud to work with CSIO to drive industry-wide alignment around eDocs, helping to create more consistency and efficiency for brokers.” “Wawanesa’s Certification provides brokers with an efficient operational process for handling eDocs,” said Catherine Smola, President & CEO of CSIO. “Their achievement marks an important step...

New York, NY (Jan. 8, 2025) – Eurasia Group has released its annual Top Risks report, forecasting the political risks most likely to play out in 2025. Country-specific addendums for Canada, Europe, Brazil, and Japan further illustrate how global risks play out in different parts of the world, with specific implications for governments and businesses. Top Global Risks 2025 We are heading back to the law of the jungle. A world where the strongest do what they can, while the weakest are condemned to suffer what they must. And the former – whether states, companies, or individuals – can’t be trusted to act in the interest of those they have power over. It’s not a sustainable trajectory, and it leads to a “G-Zero world” in which no one power or group of powers is both willing and able to drive a global agenda and maintain international order. That global leadership deficit is growing critically dangerous. In 2025, this is a recipe for endemic geopolitical instability that will weaken the world’s security and economic architecture, create new and expanding power vacuums, embolden rogue actors, and increase the likelihood of accidents, miscalculation, and conflict. The risk of a generational world crisis, even...

Primerica Household Budget Index™ – In November 2024, the average purchasing power for middle-income families was 103.6%, up from 103.1% in October 2024. This marks the seventh consecutive month purchasing power rose for middle-income families. Spending power is at its highest level since January 2021 and is up 2.8% from a year ago. Duluth, GA (Jan. 8, 2025) – Primerica, Inc., a leading provider of financial services and products in the United States and Canada, is pleased to announce the release of the Primerica Household Budget Index™ (HBI™), a monthly index illustrating the purchasing power of middle-income households with income between $30,000 and $130,000. In November 2024, the average purchasing power for middle-income families was 103.6%, up from 103.1% in October 2024. This marks the seventh consecutive month purchasing power rose for middle-income families. Spending power is at its highest level since January 2021 and is up 2.8% from a year ago. The recent recovery is driven primarily by gas prices continuing to fall in November while the cost of other necessity goods remained steady. For more information on the Primerica Household Budget Index™, visit www.householdbudgetindex.com. About the Primerica Household Budget Index™ (HBI™) The Primerica Household Budget Index™ (HBI™) is...

First-of-its-kind report reveals what the future may hold for Generation Beta, and the “Beta Baby Bonus” offered today inspires early financial action Newark, NKL (Jan. 8, 2025) – Prudential Financial, Inc. joins the world in welcoming Generation Beta (people born Jan. 1, 2025, to Dec. 31, 2039) by commissioning a first-of-its-kind report, Generation Beta: Redefining Life, Longevity, and Retirement, that reveals how Americans envision the future, and how technological, social and economic shifts will impact their financial security. To celebrate this new generation and encourage a head start on living a better life, longer, Prudential is kick-starting their retirement savings by offering the Beta Baby Bonus. Beginning today, parents or guardians of a “Beta baby” born in the United States on Jan. 1, 2025, can apply to receive $150 to put toward saving for their future. This amount, which also commemorates the company’s 150th anniversary in 2025, has the potential to grow to approximately $100,000 by age 70 if invested toward retirement savings.[1] New research commissioned in tandem with the Beta Baby Bonus shows that Americans are already worrying about this new generation’s financial journey, in addition to their own retirement security. Eighty percent of prospective Generation Beta parents agree...

Two Long-Standing, Employee-Owned Brokerages Join Forces to Create Largest Independent Insurance Brokerage in Atlantic Canada St. John’s, NL (Jan. 8, 2025) – Cal LeGrow Insurance and Financial Group (Cal LeGrow) and MacLeod Lorway Financial Group Limited (MacLeod Lorway) are merging to create the largest independent insurance broker in Atlantic Canada with more than $130 Million in combined premium volume. “In a period of rapid consolidation which has seen private equity firms and aggregators gobbling up independent brokers, we decided to do things differently. Our teams are no strangers – we have known and admired each other for years and this was not a quick deal between strangers.” says Jeff LeGrow, who will serve as CEO for the combined entity.Adds LeGrow, “This merger earns us an even bigger seat at the table with insurance carriers which means we can deliver even better solutions for our clients throughout Atlantic Canada.”Stuart Macleod, President and CEO of MacLeod Lorway adds, “I have known Jeff LeGrow for over 30 years, and we have a shared belief in remaining fiercely independent. This model gives us the combination of people, talent and scale that will allow us to grow significantly within Atlantic Canada. I will continue as...