Insurable Interest Canadian Insurance Blog

Erie Insurance Ranks Highest in Customer Satisfaction for Second Consecutive Year Troy, MI (Apr. 29, 2025) – The rate at which auto insurance premiums increased in 2024 declined to less than 2% at year-end from 13% at the beginning of the year. But, even as auto insurance customers in the United States have gained some pricing relief, the percentage of customers shopping for insurance year over year jumped to 57% from 49%, according to the J.D. Power 2025 U.S. Insurance Shopping Study.SM “Auto insurance rate taking reached multi-decade highs in the first quarter of 2024, which put record numbers of customers into the market shopping for lower-priced policies as the year progressed,” said Stephen Crewdson, managing director of insurance business intelligence at J.D. Power. “As rate activity began to fall in the second half of 2024, many shoppers were successful at finding lower-priced policies. That combination of increased shopping and less rate taking created a bit of a snowball effect for much of the year, but we are seeing signs that shopping rates are starting to normalize. A potentially bigger concern for the industry right now might be the increased interest many consumers are showing in embedded insurance providers, like...

Mississauga, ON (May 1, 2025) – As wildfires, floods, and extreme storms threaten more Canadian communities each year, a new survey from First Onsite Property Restoration reveals what Canadians would grab first when disaster strikes – and what they would leave behind. Released ahead of Emergency Preparedness Week (May 4–10), the findings offer a revealing glimpse into Canada’s top priorities in the face of sudden evacuation. Topping the list? Pets, credit cards and important documents are the three things Canadians say they would grab first if they had to leave home in a hurry. Top items Canadians would take during an evacuation: Credit cards (54%) Pets (51%) Important documents (51%) Medications (45%) Pre-packed emergency bag (33%) Food (20%) First aid kits (16%) Heirlooms (11%) Electronics (10%) Clothing, footwear, and jewelry (9%) The survey results reflect the recent emotional scenes from wildfires across North America. During the Palisades Fire in Los Angeles and the massive wildfires in Jasper, residents rushed to evacuate—often putting pets before possessions. “In both the Palisades and Jasper fires, the emotional bond with pets and the determination to protect loved ones was a central theme, with many risking their safety to ensure animals were safely evacuated,” said...

Belleville, ON (May 2, 2025) – Cornell Insurance Brokers Ltd., a division of McDougall Insurance Brokers Limited, is pleased to announce the successful combination with Active Insurance & Financial Group Inc. in Etobicoke Ontario. The strategic transaction brings together two excellent GTA insurance brokerages and strengthens McDougall’s presence in the region. “We have always had a close working relationship with Active,” said Patrick Hogan, Vice-President of Cornell. “They think of insurance the same way we do – with an intense emphasis on relationships, communities and doing the right thing for their clients. We welcome Active’s staff and clients into the Cornell family and look forward to succeeding together as a bigger, stronger team.” Continuity is crucial to all parties in this transaction, which is why they are happy to announce that Mark Palazzese, the owner of Active, will remain as President and will continue to lead Active post-transaction. “Active is a special organization built from the effort and discipline of our team, and I firmly believe this transaction will be another successful step in our journey,” said Mark. “We are in the relationship business – and through our relationship with Cornell we knew that this transaction was a fit that would...

Quebec City, QC (May 1, 2025) – iA Financial Group is pleased to announce it has deployed My Financial Journey™, a digital financial planning tool, to brokerage network advisors who are eligible for the iA Premier recognition program. This innovative needs analysis tool—unparalleled in the industry and wholly developed by iA Financial Group—enables advisors to offer their clients a personalized plan aligned with their financial objectives at every stage of their lives. Launched in 2021, My Financial Journey™ was first offered to over 2,000 Individual Insurance Savings and Retirement advisors in the Career network. Since then, My Financial Journey™, a comprehensive solution that facilitates the analysis of clients’ overall financial needs, has equipped them to better support their clients in their financial decisions. My Financial Journey™ optimizes recommendations by taking into account clients’ savings capacity and their protection needs. To date, more than 300,000 financial journeys have been undertaken, thereby optimizing the financial planning of many clients. “As we strive to be a key partner for all of our advisors across Canada, we are pleased to offer My Financial Journey™ to an even greater number of them, helping them better serve their clients so they can feel confident and secure about their future. This...

With Capacity Provided by Allianz, Active Insurance Provider to Offer Innovative Cyber Insurance Solution to Businesses in Denmark, Sweden San Francisco, CA (May 1, 2025) — Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, is pleased to announce the launch of its innovative Active Cyber Insurance in the Nordic region through its subsidiary, Coalition Insurance Solutions, filial af Coalition Insurance Solutions GmbH, Tyskland. Coalition’s offerings are available in Denmark effective immediately and will become available in Sweden on May 8th. “Businesses within the Nordics will benefit from access to an offering that combines comprehensive insurance with meaningful cybersecurity insights and tools to help them manage and mitigate cyber threats,” said Tine Simonsen, Coalition’s Head of Insurance, Continental Europe. “As cyber threats grow exponentially globally, preventing digital risk before it strikes has never been more important, and with the entrance of Active Insurance in the region, Coalition aims to provide greater protection for all European businesses.” Coalition offers insurance products in Denmark and Sweden with capacity provided by Allianz Commercial in a multi-year agreement. Coalition’s Active Cyber Insurance is available to businesses with up to DKK 7,5bn and SEK 11bn in revenue on a...