Insurable Interest Canadian Insurance Blog

Start Slideshow In 2023, the Morningstar US Growth Index outpaced the Morningstar US Value Index by some 26 percentage points, Margaret Giles, the firm’s content development editor, noted in a blog post this week. However, from the end of March through May 7, the growth index has declined by nearly 6%.. “Between this pullback and a few modest increases in our fair values, stocks within the growth category are now trading near fair value,” Giles’ colleague Dave Sekera observed. “However, within the growth category, stocks trading at much of a discount to fair value have become increasingly harder to find.”  Sekera said that with the rate of economic growth poised to slow over the next several quarters, Morningstar prefers to invest in higher-quality companies with wide economic moats that share these qualities: See the accompanying gallery for the 10 most reasonably priced growth stocks from Morningstar’s best companies to own list. Year-to-date performance is as of May 9. Start Slideshow

Toronto, ON (May 10, 2024) – BrokerLink continues its momentum in the acquisition space, with three new acquisitions: Ontario-based Law Insurance Brokers Limited (Law Insurance Brokers), and Alberta-based Direct-Line Insurance and MKMK Risk Management Inc. (MKMK Group). All three closed May 1. These acquisitions increase BrokerLink’s footprint in Edmonton and six additional locations nearby, as well as Calgary, Aurora and Sudbury. Expanding to local Northern and Central Alberta communities With roots tracing back to the 1940’s, Direct-Line Insurance has always taken a personal approach with customers, learning about their unique needs, and finding the best insurance solutions for their home, vehicles, farm and business. With locations in Edmonton, Millet, Warburg, Calmar, Sherwood Park, Beaumont and Lamont, the employees of this well-established brokerage believe in a local, customer-focused approach. “Our customers are top priority for us, so it’s important that we focus on their needs and find the right insurance coverage for their peace of mind,” says Gord Enders, President of Direct-Line Insurance. “We’re passionate about helping others and are excited to continue being there for our customers and community, as part of the BrokerLink team.”Connecting with customers in Calgary, AB MKMK Group has offered insurance solutions to its customers in...

Toronto, ON (May 8, 2024) – According to researchers at Colorado State University, record warm tropical and eastern subtropical surface temperatures in the Atlantic Ocean could result in 11 hurricanes this year, a significant increase over the average of 7.2 hurricanes a year recorded between 1991 and 2020. Insurance Bureau of Canada (IBC) notes that the research team’s forecast also predicts that five of those hurricanes will be major, having winds of about 180 kilometres per hour or stronger. A hurricane is a type of tropical cyclone that forms over tropical or subtropical waters. The National Oceanic and Atmospheric Administration considers the storm a hurricane when its maximum sustained winds reach 74 miles (119 kilometers) per hour. Warm water, moist air and converging winds are three of the main factors that cause a hurricane to form. Because heat acts as fuel for storms, this year’s warmer water can create bigger and stronger hurricanes. In February 2024, the Weather Network reported that temperatures in one part of the tropical Atlantic Ocean were already as warm as they usually are in the middle of July. Another factor that could contribute to this year’s hurricane season is the development of La Niña in...

Toronto, ON (May 8, 2024) – Navacord is thrilled to announce their recent acquisition of SécuriGlobe assurance voyage, effective as of April 1. This is Navacord’s largest partnership of 2024 and its most substantial travel partnership to date. SécuriGlobe assurance voyage, founded in 1999, is one of the largest and premier travel insurance brokers in Canada. Headquartered in Montreal, the renowned travel protection and health insurance distributor doubles the size of Navacord’s travel portfolio while also expanding its presence in Quebec. Catered mainly towards the snowbird population, SécuriGlobe also specializes in products for visitors to Canada and emergency medical. “Joining forces with SécuriGlobe is a pivotal moment for Navacord as we enhance our travel offerings with a distinguished leader in the travel sector,” says Melanie Muise, President of Personal Lines and Travel, Navacord. “This partnership not only grows our travel portfolio; it also underscores our commitment to growth in this space, which we are actively pursuing.” Since she was appointed as President of PL and Travel last August, Muise has spearheaded Navacord’s efforts to build out national expertise and presence in both personal and travel insurance, and welcoming SécuriGlobe to Navacord serves as a tangible step forward in their growth...

By Manav Gupta, CTO & VP, IBM Canada — 2023 was the year Generative AI made its way to the mainstream and rocketed up the business agenda. This year, almost two thirds (60 per cent) of C-suite leaders will be piloting Gen AI solutions, according to IBM’s Institute for Business Value. I had the pleasure of speaking to Anuja Sheth, SVP Network and Technology Services at Bell, to get her view on the enhancements AI is making. Anuja kicked off our discussion by explaining that Gen AI is an enabler for business transformation. When digital technology and AI is embedded into every function within an organization, and every business process, it can make an impact across every part of the business. I asked Anuja where AI is adding value at Bell: The first is in customer experience. The hyper-personalisation that is possible with AI is transformative, whether that’s a customer buying a service or seeking support for a service The other is within networking and technology services, and a few domains under this umbrella. These include the ability to properly capacity plan, optimise costs, and make use of automated incident detection and resolution. And finally, employee experience. AI can act...