Insurable Interest Canadian Insurance Blog

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...

Merging Two Leading Insurance Brokerages Creates Canadian Champion Toronto, ON (Feb. 3, 2025) – Navacord Corp. and Acera Insurance Services Ltd. are pleased to announce the successful completion of their previously announced merger. Effective February 2, the transaction formally closed following confirmation of all required regulatory, court and shareholder approvals. The completion of the transaction officially brings together two industry-leading Canadian insurance brokerages, forming one of the country’s largest privately held insurance, employee benefits and wealth advisory firms. This merger also reinforces the power of the employee ownership model that has built the foundation for both businesses, now positioning Navacord as one of the largest employee-owned brokerages in Canada, enabling a continued focus on clients, communities and employees. Combined, the organizations represent approximately $7.2 billion in insurance and employee benefits premium and $7.5 billion in retirement assets under management. Backed by more than 5,000 insurance and financial services professionals across more than 150 locations nationwide, we have united to deliver industry-leading expertise and measurable value for clients. “With the transaction now complete, our focus is on a thoughtful integration that advances our vision of a true Canadian champion, while preserving the strengths of both organizations in a way that best...

Insurance experts outline practical steps homeowners can take today to stay safe and avoid unnecessary losses Toronto, ON (Jan. 23, 2026) – With most of Canada currently under Environment Canada’s yellow and orange weather alerts for cold and snow, Insurance Bureau of Canada (IBC) is sharing tips to help Canadians protect their property. “Winter storms and extreme freezing temperatures can cause extensive damage to homes, businesses and vehicles,” said Rob de Pruis, National Director, Consumer and Industry Relations, IBC. “While we can’t stop a winter storm or the potential aftermath, there are steps we can take to help mitigate the risks and better protect our property – and now is the time to act.” IBC’s Top 10 Winter Storm Tips Take steps to help prevent pipes from freezing; consider pipe insulation, especially for pipes near outside walls, basements and crawl spaces. Prevent drafts, seal cracks and openings around windows and doors and know where the water shut off valves are located. Create an emergency preparedness plan for your family and assemble disaster safety kits for your home, car and office. Prepare for power outages. Have flashlights and portable lighting ready. When using candles, always be mindful of fire hazards. Charge...