Insurable Interest Canadian Insurance Blog

Transaction brings together FortressFire’s physics-based wildfire risk modeling platform and FM’s leading engineering and research capabilities Johnston, RI (Aug. 10, 2026) – Commercial property insurer FM is pleased to announce the acquisition of FortressFire, a leading provider of wildfire intelligence that combines machine learning and physics-based modeling. Financial details of the transaction were not disclosed. Through a data-driven, science-backed approach to wildfire risk modeling, FortressFire helps protect homes, businesses and communities from wildfire loss. Operating as an independent, wholly owned division of FM, FortressFire’s platform enables insurers and property owners to better understand and manage wildfire risk down to an individual property level. Its wildfire intelligence solutions include aerial wildfire reports, monitoring, analytics, ground inspections and mitigation assessments to provide actionable, structure-specific insights and mitigation recommendations. “FortressFire shares FM’s core belief in the power of data-driven, location-based risk mitigation and protection measures to help clients better understand and manage wildfire exposure,” said Malcolm Roberts, chairman and chief executive officer of FM. “The FortressFire team brings powerful tools to assess and mitigate wildfire risk, and we are excited to welcome them to the FM family.” “For years we’ve argued that the best risk management is ignition prevention—and that the path to...

Acquisition brings together two proudly BC-based organizations and expands Westland’s presence across the Southern Interior Surrey, BC (Aug. 6, 2026) – Westland Insurance, one of Canada’s largest insurance brokerages, is pleased to announce that it has acquired Interior Savings Insurance Services Inc. (ISI), part of Beem Credit Union, effective August 1. This acquisition reflects Westland’s strategic focus on expanding its presence in BC and deepening the organization’s capabilities in personal and commercial insurance solutions, while bringing greater value to clients within their local communities. Based in BC, with 13 locations across the Thompson, Okanagan, and Similkameen regions, Interior Savings Insurance has been serving clients for over 80 years, building a strong reputation for personalized and trusted advice, tailored coverage, and long-standing client and community relationships. The firm offers a full suite of personal and commercial insurance solutions, including coverage for home, auto, travel, and business. The acquisition is strategically compelling for Westland because it broadens the company’s BC presence in communities where local knowledge and relationships matter and further solidifies Westland’s leadership in risk management solutions in these areas. Interior Savings Insurance also brings durable client relationships, a diversified insurance portfolio, and a community first perspective that closely align with...

TD Insurance survey finds 84% say they don’t fully understand their coverage, highlighting a major insurance confidence gap Toronto, ON (Aug. 5, 2026) – As Canadians look for ways to manage rising costs, a new TD Insurance survey suggests some may be taking financial risks they don’t fully understand. One-third of Canadians say they would consider reducing their insurance coverage to save money, despite not fully understanding what their policies do and don’t cover. Key findings from the survey: 33% of Canadians say they would consider reducing their insurance coverage to save money Gen Z (55%) is most likely to cut back on insurance to reduce pressure on budgets 62% aren’t confident their coverage would fully protect them in an unexpected situation 84% don’t fully understand what their insurance does and doesn’t cover The findings point to a growing insurance confidence gap: Canadians are looking for ways to save money at a time when many don’t fully understand what their insurance covers or whether it would adequately protect them in an unexpected situation. While 85% of Canadians recognize the importance of insurance as a financial safeguard, half (50%) admit they don’t know what insurance coverage they currently have. “With the...

New cryogenic quantum fridges designed to link hundreds of quantum chips. Cooled to below 15 millikelvin, more than 180 times colder than deep space, the build out marks a step forward in the engineering required for future quantum computers. Advances IBM’s quantum roadmap to deliver the world’s first fault-tolerant quantum computer in 2029. New York, NY (Aug. 19, 2026) – IBM is pleased to announce it has successfully joined and cooled down two cryogenic modules into a single environment. The new architecture is designed to scale into the modular, shared, and ultra-cold system required to link hundreds of quantum chips into a more powerful quantum computer capable of solving large problems. Its deployment is a milestone on IBM’s path to delivering IBM Quantum Starling in 2029, which is expected to be the world’s first fault-tolerant quantum computer and will integrate advances across error correction, processor design, decoding, and systems engineering. [embedded content] Please visit https://youtu.be/wwMI6IhvwE0 if the embedded video player doesn’t work. Combined, the first two operational modules stand more than 8 feet tall and 8 feet wide, and initial tests demonstrated they can jointly cool down to 4 Kelvin (the temperature of liquid helium) in under 5 days, reaching...

Firm expands national in-house quantum computing capability to help shape the next wave of technological change Investment marks a shift from quantum experimentation to solving real business challenges for clients Advancement of in-house quantum capabilities helps organizations process highly sensitive data entirely within Canadian borders Toronto, ON (Aug. 5, 2026) – EY Canada is pleased to announce the expansion of its quantum computing capabilities to help clients solve increasingly complex business challenges in areas of optimization, fraud detection and large-scale risk management. The investment in an on-site quantum computer further enables the processing of highly sensitive workloads within Canadian borders, helping organizations meet growing security, privacy and regulatory requirements. “We’re shifting the conversation on quantum computing from concept to practical use for our clients in Canada and globally,” said Biren Agnihotri, Chief Technology Officer, EY Canada. “Quantum computing has the ability to solve complex challenges that classical computing alone cannot address. By combining local and global talent, ecosystem collaboration and leading-edge in-house quantum infrastructure, we’re accelerating how organizations translate quantum innovation into real-world capability.” Moving from experimentation to real-world application EY is continuing its Client Zero approach, developing and testing quantum-enabled solutions within its own environment to help move visionary...