Insurable Interest Canadian Insurance Blog

Toronto, ON (Jan. 29, 2026) – TD Insurance (TDI) is pleased to announce that it has successfully sponsored its new catastrophe bond, Series 2026-1, which will provide the TDI insurance companies additional reinsurance capacity through a multi-year risk transfer of C$115MM aggregate protection against named storms, earthquakes, severe convective storms, winter storms and wildfires. The proceeds are invested in CAD-denominated European Bank for Reconstruction and Development (EBRD) notes. This is the second cat bond sponsored by TDI, who in 2025 became the first Canadian insurer to sponsor a bond solely focused on catastrophe perils in Canada. “Natural disasters can have devastating impacts on Canadians, their families and entire communities. Protecting our clients in their moments of need is a responsibility we take very seriously,” said James Russell, President and CEO, Senior Executive Vice President, TD Insurance. “Through this second catastrophe bond, we’re able to help manage rising costs of these events to provide the most competitive pricing possible for our clients.” The reinsurance protection from the MMIFS Re Ltd. issued Series 2026-1 cat bond will provide more reinsurance protection for named storms, earthquakes, severe convective storms, winter storms and wildfires in Canada on an indemnity and annual aggregate basis, over...

Significant progress made in last two years, ongoing work needed to continue decreasing auto theft — Roughly two years ago, on February 8, 2024, the federal government hosted the National Summit on Combating Auto Theft in response to a sharp rise in auto theft across the country. Since then, and as a result of the efforts of governments, law enforcement and other stakeholders, the number of auto theft claims has declined by 27% over the last two years.[1] “Since the summit, considerable progress has been made in the fight against auto theft,” said Liam McGuinty, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC). “Auto theft rates have dropped, thanks in large part to concerted efforts by governments and law enforcement to ensure stolen vehicles are seized before they leave Canada’s ports.” The federal government’s National Summit on Combatting Auto Theft brought together all orders of government, law enforcement, border and port officials, insurers and auto manufacturers to find solutions to the crisis. It resulted in the National Action Plan on Combatting Auto Theft (Action Plan), which outlines a series of actions focused on disrupting, dismantling and prosecuting the organized crime groups behind auto theft. IBC notes that the federal government...

Toronto, ON (Jan. 22, 2026) – BOXX Insurance, the original all-in-one cyber insurance and protection company, has findings revealing the increasing importance of artificial intelligence (AI) as a core capability for Canadian Insurance Brokers placing commercial and personal cyber and tech coverage. 100% of Brokers Report Using AI but Human Expertise Still Reigns The findings highlight that AI is now embedded within everyday Broker workflows, helping them simplify complex cyber risks, surface emerging threats and deliver faster, clearer, and more tailored advice to clients. All cyber and tech insurance Brokers (100%) surveyed  reported using AI in their day-to-day work at least multiple times per day. Thirty-five per cent of respondents reported relying on AI tools or chatbots to stay informed on market shifts and emerging risks, whilst 52% reported using AI to explore trends and 47% used it to compare information. By using AI to leverage trusted data sources and industry expertise, Brokers can offer timely and bespoke advice to their clients. Despite this surge in AI usage, Canadian Brokers aren’t abandoning traditional wisdom as they continue to access authoritative sources to understand trends via company and industry reports, trade media and professional associations or Broker networks. Brokers Anticipating Faster...

Governments urged to significantly boost investments in resiliency to better protect communities Toronto, ON (Jan. 27, 2026) – Insured damage caused by severe weather events exceeded $2.4 billion in 2025, according to Catastrophe Indices and Quantification Inc. (CatIQ). This makes 2025 the tenth costliest year on record for severe weather–related insured losses in Canada. Noteworthy severe weather events in 2025 include the late-March ice storm in Ontario and Quebec, May wildfires in Flin Flon, Manitoba, and La Ronge, Saskatchewan, a July hailstorm in Calgary, Alberta, severe storms across the Prairies in August that caused significant hail damage to vehicles in Brooks, Alberta, and December floods in British Columbia. March 28–31: Ontario and Quebec ice storm – $490 million May: Flin Flon and La Ronge wildfires – $300 million July: Calgary hailstorm – $160 million August: Prairie severe storms – $235 million December: BC atmospheric river series – $90 million “Severe weather events continue to intensify. Two decades ago, insured losses seldom surpassed $500 million in a year. Today, annual costs exceeding $1 billion have become the norm. This shift demands that we fundamentally rethink how we build, plan and restore communities across our country,” said Celyeste Power, President and CEO, Insurance...

By Sanjay Malhotra, CEO, Brisc AI — As generative AI continues to transform industries, one thing has become clear: insurance is different. While ChatGPT, Gemini, and Claude can generate content and answer questions with impressive fluency, they weren’t built to automate insurance submissions, reconcile bordereaux files, or triage claims. The needs of carriers, MGAs, and reinsurers go beyond text generation. They require accuracy, compliance, auditability, and deep operational context. Generic AI introduces too much risk and too little return. The future of AI in insurance lies with insurance-native AI solutions designed to understand the language, logic, and nuance behind every policy, claim, and decision. Key Takeaways Insurance-native AI is purpose-built to handle the complexity, regulation, and workflows unique to insurance. Generic AI lacks context and often hallucinates, posing significant risk in compliance-driven environments. Vertical, agentic AI platforms deliver faster ROI, cleaner data, and more trustworthy outputs by acting within insurance context. What Is Insurance-Native AI? Insurance-native AI refers to artificial intelligence tools and agentic systems built specifically for the insurance industry. Unlike general-purpose AI trained on broad datasets, these systems are fine-tuned with insurance-specific context, using verified data, workflows, and domain rules to guide outputs. They operate within the real-world...