Insurable Interest Canadian Insurance Blog

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...

New offering provides flexible, cost-effective coverage designed to address rising out-of-pocket costs and deliver peace of mind Markham, ON (May 13, 2026) – Combined Canada, a Chubb Benefits Company and leading provider of supplemental accident, health, disability, and life insurance products in Canada, is pleased to announce the launch of Combined Cancer Care, a new insurance product designed to help Canadians navigate the financial challenges associated with a cancer diagnosis. According to the Canadian Medical Association Journal (CMAJ) and reported by the Canadian Cancer Society, an estimated 254,100 Canadians will be diagnosed with cancer in 2026. With nearly 2 in 5 Canadians expected to develop the disease in their lifetime, cancer remains the leading cause of death in Canada (87,900 projected in 2026). Following a diagnosis, many patients face significant out-of-pocket expenses from prescription drugs and travel for treatment to caregiving and lost income that can place considerable financial strain on individuals and families. Key features of Combined Cancer Care include: Daily benefits for inpatient and outpatient cancer care (up to $400 per day, paid directly) Optional lump-sum diagnosis benefits ranging from $2,500 to $10,000 Coverage options that include heart attack and stroke protection Access to Teladoc Health Canada’s Expert Medical...

Nearly eight in ten working Canadians (76%) want employers to play an active role in building their financial security Less than half are currently receiving workplace savings support at work (41%) Working Canadians list financial stability as the most important aspect of employment Toronto, ON (Jan. 21, 2026) – Sun Life is pleased to announce Sun Life Essentials™ and Sun Life Essentials Plus™, new digital-first workplace savings solutions designed specifically for small and medium‑sized enterprises (SMEs). The plans are built to be simple and accessible, helping business owners better support their employees in building long‑term financial stability and confidence. Amid rising uncertainty and cost pressures, building a stable and loyal workforce is a priority for businesses of all sizes. Workplace savings plans can be a practical way for employers to invest in their people without adding complexity. Recent research conducted by The Harris Poll for Sun Life, underscores why this support matters right now. More than a quarter of working Canadians say financial stress is impacting productivity and engagement at work. And 87 per cent believe employers that help workers save earn greater loyalty. “Small business owners are the backbone of our economy, and we know how much they’re carrying...

London, UK (May 11, 2026) – According to a new report by Marsh Risk, a business of Marsh, and the world’s leading insurance broker and risk advisor, cyber risk is, for the first time, the top concern among UK business leaders. It is cited as the leading concern for 46% of business leaders, up three percentage points from 2024, and up from 20% in 2023. Marsh Risk’s UK Business Risk Report – which surveyed more than 2,000 business leaders, from sole traders to businesses of with over 250 employees across the UK – provides industry level insight and practical recommendations to help organizations prioritize actions, allocate capital and engage with insurers more effectively. The report underscores the need for businesses to adopt flexible risk management approaches that can adapt as threats evolve and interact across domains. The top risks include cyber threats (46%); economic and financial (44%); compliance, legal and regulatory (40%); and people (39%). According to the report, high profile attacks, greater digitalization and supply chain vulnerabilities have elevated cyber risk to board level, due to widespread operational disruption, potential regulatory exposure and reputational harm. Respondents also highlighted the growing interconnectedness of threats, signalling a move by organizations to...