Insurable Interest Canadian Insurance Blog

A $350-billion opportunity: Digital maturity—not just adoption—is now the key challenge, with execution emerging as the primary barrier to growth Montreal, QC (June 24, 2026) – Canadian small- and medium-sized enterprises (SMEs) could unlock nearly $350 billion in economic growth if more firms reached the digital and AI maturity of the country’s top-performing SMEs, according to a new study from the Business Development Bank of Canada (BDC). Digital maturity reflects a business’s overall ability to turn technology, data and processes into performance, while AI maturity refers more specifically to how effectively it embeds and scales AI in day-to-day operations. The estimate models a scenario in which 92% of SMEs reach the digital maturity of today’s top-performing 8%, highlighting the scale of the gap between leaders and the broader market. The challenge is no longer awareness—it’s execution. Moving from adoption to results now separates leading economies. For Canada, accelerating digital maturity is also a question of sovereignty, tied to the ability to build domestic capability and capture value at scale. The study found the digitization of Canadian businesses is accelerating, with 96% of SMEs investing in digital technologies in 2025 versus 91% in 2021. However, while adoption is widespread, the report shows that...

Schaumberg, IL (June 3, 2026) – Zurich North America is pleased to share the second episode of its Future of Risk podcast, “Lessons from data center claims.” As data centers grow in scale, speed and complexity, the risks driving claims are evolving just as quickly. In this episode of Future of Risk, we explore key lessons from data center claims, focusing on the unique risks emerging from rapid construction, increasing project scale and evolving loss drivers. Our guests are Jimmy Johnson, Vice President of Property Major Case Unit at Zurich U.S. and Patrick McBride, Head of International Construction, Global Specialty at Zurich. Together, they unpack how rising project values, complex equipment and compressed timelines are fundamentally reshaping both underwriting and claims strategies. The discussion highlights major loss drivers such as severe weather, equipment sensitivity and construction sequencing, as well as the growing impact of delay in startup (DSU) exposures. Listeners will gain insight into how Zurich is applying decades of experience, data and cross-functional collaboration to deliver innovative solutions and help clients navigate these increasingly complex risks. This podcast covers: The impact of hyperscale growth on data center construction claims Data center risk: Key loss insights Sequencing risks in data center...

Foresters Financial expands simplified issue underwriting, enabling up to $500,000 in affordable no-medical coverage for Canadians with prior health conditions Toronto, ON (June 9, 2026) – Canadians living with conditions such as cancer in remission, managed diabetes or a past cardiac event have often faced limited access to meaningful life insurance coverage, even as their health has improved over time. Foresters Financial™ is helping to change that. Through its Canada Protection Plan® line of simplified issue products, the organization has enhanced its A-Z Life Coverage application to widen eligibility, streamline the experience and help more people qualify for affordable no-medical life insurance. Canadians may now be eligible for up to $500,000 with day-one coverage.[1] “Even with a health diagnosis, the need for life insurance protection remains the same,” said Michael Aziz, Chief Distribution Officer, Canada, Foresters Financial. “These enhancements are about meeting people where they are. More Canadians who once assumed coverage was out of reach, or who settled for less than they needed, can now qualify for real, day-one protection for the people who depend on them.” What’s changed The enhanced A-Z Life Coverage application introduces expanded eligibility criteria and updated look-back periods across several key conditions. These updates...

London, UK (June 9, 2026) – WTW, a leading global advisory, broking and solutions company, has announced its acquisition of Redefind, an end-to-end web-based platform, designed to facilitate access to insurance products for crypto and digital assets. This investment reflects WTW’s long-term strategy to expand into next-generation protection solutions for clients exposed to digital finance, crypto ecosystems and tokenised asset environments. The proposition launches as a non-custodial, cost-of-recovery insurance solution, intended to support digital asset owners in the event of theft or loss. Coverage is designed to support expenses associated with forensic investigation, asset tracing, and legal recovery of stolen digital assets. As part of the acquisition, Redefind’s founders, Richard Daws and Connor Edward joined Willis upon completion of the transaction. The service will initially launch in the UK, with broader market and product expansion planned as capabilities continue to evolve. Alastair Swift, head of global specialities at Willis said: “As digital assets continue to move further into the mainstream, demand for credible regulated protection solutions is increasing. Through this investment, WTW is taking a leading position to shape the future of risk transfer and protection in the digital economy. “We are committed to supporting clients in navigating emerging financial...

Rising Complexity, Cyber Risk, Member Expectations and Ecosystem Convergence Elevate Cloud-Native, AI-Enabled Platforms as a Strategic and Operational Mandate Morristown, NJ (May 5, 2026) – Majesco, the insurance and retirement & pension industry’s foremost innovator in cloud-native, AI-native software, is pleased to announce the release of its new thought leadership report, Technology Trends Shaping Retirement & Pension Administration and Pension Risk Transfer (PRT). The report highlights how member demographic shifts, regulatory pressure, cyber threats, and converging pension–insurance–PRT ecosystems are turning modernization into a strategic and operational mandate for public-sector, private, and multi-employer retirement organizations. Based on the Retirement Plan Administration Technology Trends survey of senior leaders across state and local retirement systems, transit authorities, utilities, school systems, and other public-sector entities, insights from an executive panel and a detailed case study with a retirement & pension organization,  the report reveals an industry under intensifying pressure to modernize aging and manual administration environments while strengthening trust, transparency, and resilience. “Retirement and pension systems are the operational backbone of the social contract — and that backbone is being rebuilt, in real time,” said Denise Garth, Chief Strategy Officer at Majesco. “Administrators can no longer rely on fragmented, manual, legacy environments and expect...