Insurable Interest Canadian Insurance Blog

BDC’s StrongNorth Fund invests in Photonic and Lastwall, and partners with initiatives like UBC Sauder School of Business’ Scale Up Program Montreal, QC (May 27, 2026) – The Business Development Bank of Canada (BDC) is pleased to announced new investments in Canadian dual use innovators through its StrongNorth Fund, alongside a partnership with UBC Sauder School of Business’ Scale Up Program, as it continues deploying its Defence Platform launched in December 2025. “We’re at a moment where Canada’s defence and economic sovereignty are increasingly shaped by technology,” said Peter Dawe, Vice President, Defence Strategy, BDC. “But ultimately, sovereignty depends on our ability to build and scale real capabilities—companies that can deliver, secure critical systems, and operate in complex environments. Through StrongNorth, we’re backing Canadian firms that are turning quantum and identity security into real‑world defence capability—focused on technologies that are ready to deploy today, while building the next wave of capability behind them.” As countries face rising cyber threats, these investments highlight how Canada is building defence capability across critical technologies. They also show how that capability is beginning to translate into real‑world applications, with companies advancing strengths across multiple critical technology domains and forming a broader national base of...

After taking 20 years to reach its first $1 billion in paid claims, Trupanion surpassed $4 billion just 18 months after crossing $3 billion, highlighting the growing role of high-quality pet insurance in reducing barriers to care Seattle, WA (May 26, 2026) – Trupanion, the leading medical insurance provider for cats and dogs in North America, is pleased to share it has reached the milestone of $4 billion in claims paid out to customers, helping more than 3.9 million pets receive care. Lacy Pushes Trupanion Past $4 Billion When Lacy, a three-year-old Goldendoodle from Illinois, recently received medication to help manage her allergies, it meant more than relief from a chronic condition—it meant her family could focus on her comfort rather than the bill. Lacy enrolled with Trupanion, North America’s leading pet medical insurer, when she was just two months old. By a year and a half, she was already receiving treatment for chronic allergies, and by age three, Trupanion had paid out nearly $2,000 across multiple allergy-related claims—an early reminder of how quickly the costs of ongoing conditions can add up over a pet’s lifetime. Stories like Lacy’s are playing out every day for thousands of pet families who...

Global travel intent remains robust at 74 % 42 % of global travelers plan to vacation domestically in 2026 77 % of global travelers concerned about the rising cost of travel 54 % of global travelers are likely to attend concerts, festivals or performing arts events during their trips, while 41 % plan to attend sporting events €1,572 (CAD$2,552) is the anticipated average global spend per person on a holiday this summer Saint-Ouen, France (May 20, 2026) – Global travel intent remains resilient in 2026, with nearly three-quarters (74%) of people worldwide still planning a summer holiday. However, new research from Allianz Partners Global Travel Confidence Index reveals the sector is being increasingly reshaped by economic pressure, geopolitical uncertainty and changing consumer priorities. The survey, conducted by Ipsos, of 11,010 people covered 10 key markets including China, France, Germany, Great Britain, India, Italy, the Netherlands, Spain, Switzerland and the United States. The research highlights a global traveler who is adapting rather than retreating. While travel intentions remain robust, holidaymakers are changing how and where they take their holiday. Travel demand remains strong, but increasingly local Domestic travel is leading the way for many travelers this summer, with 42% of global...

Exclusive alliance embeds Claude Cowork in KPMG’s global client delivery platform starting with new capabilities for Tax & Legal clients Anthropic names KPMG as a preferred consultant for Private Equity KPMG’s 276,000+ global workforce provided access to Claude New York, NY (May 19, 2026) – KPMG and Anthropic are pleased to announce KPMG Digital Gateway Powered by Claude, bringing Anthropic’s frontier AI directly into KPMG’s client delivery platform. The launch is part of a global alliance, with an initial focus on tax clients and private equity firms. By embedding Claude into Digital Gateway, KPMG’s market leading AI-enabled platform, clients can build agentic workflows in real time to help drive better outcomes. KPMG in the U.S. will also embed Claude into its PE-focused product offerings, and the two organizations will co-develop new Claude-powered products for portfolio companies. “At KPMG, we’re innovating and redefining how work gets done,” said Bill Thomas, Global Chairman and CEO, KPMG International. “This global alliance with Anthropic reflects our shared commitment to responsible AI, prioritizing security, trust, and governance as KPMG firms scale these capabilities to our clients and people around the world. “KPMG works in industries where accuracy, accountability, and trust aren’t optional, and they’re applying...

Most employers plan to embed AI into benefits operations within two years — yet lack resources, governance and readiness to scale responsibly New York, NY (May 19, 2026) – Employers are preparing to significantly expand their use of artificial intelligence (AI) in health and benefits over the next two years, according to a new survey from leading global advisory, broking and solutions company WTW. While most organizations remain in the early stages of adoption today, planned investment signals that AI is poised to become a core component of benefits operations — particularly to improve communication (68%), data analytics and insights (59%), and personalized support (57%) – even as employers grapple with resource constraints and risk concerns. WTW’s 2026 AI Use in Health and Benefits Survey found that AI use in benefits currently trails broader enterprise adoption. Today, just 20% of employers report actively operationalizing AI within their benefits programs. However, that figure is expected to rise drastically, with nearly three-quarters (72%) planning to embed AI in their benefits programs within the next two years, signaling a rapid shift from experimentation to execution. “AI is moving quickly from pilots to practical application in health and benefits, and employers are deliberate about...

Insurance Bureau of Canada releases new ranking based on auto theft claims Ottawa, ON (May 13, 2026) – Insurance Bureau of Canada (IBC) is releasing its latest list of the top 10 costliest cities in Ontario for auto theft claims. Toronto, Brampton, and Mississauga have maintained their respective top three rankings since the last report from IBC. Ottawa has moved up two places in the rankings to the fourth spot. Hamilton moved up a staggering four spots from ninth to fifth. And Vaughan now occupies the seventh spot, down from fourth. “While IBC applauds the efforts of provincial and municipal governments, law enforcement and insurers in helping to curb the auto theft crisis, there is still more work to be done by all stakeholders,” said Amanda Dean, Vice-President, Ontario and Atlantic, IBC. “Ending auto theft requires a sustained, coordinated and whole–of–society approach.” According to newly released data, claims costs for auto theft in Ontario reached $485 million in 2025, down from $723 million in 2024. However, auto theft in Ontario remains well above historical levels, with the number of auto theft–related claims up 97% and losses up a staggering 330% since 2017. Table 1: Top 10 Costliest Cities in Ontario...