Insurable Interest Canadian Insurance Blog

Guelph, ON (Sept. 3, 2025) – Co-operators is pleased to announce its acquisition of Agence D’Assurances Montcalm Inc. (Montcalm), a brokerage located in Québec City, Québec. The deal closed September 1st, as part of the organization’s ongoing strategy to expand their regional footprint. Co-operators, a leading Canadian financial services company, is the fourth largest property and casualty insurer in Canada with over 600 locations coast-to-coast. In Quebec, the company operates 13 corporate branch locations. Montcalm is the seventh acquisition Co‑operators has made in the province since their regional expansion strategy launched in 2017. “Co-operators reputation is built on expert-advice and community values. That’s the model we have brought to Quebec, and it has driven our success here. It differentiates us both to our clients and to the brokers who have joined our team,” explains Patrick Décarie, VP, Sales Operations.” To continue that growth, we are actively recruiting experienced brokers in Quebec – offering competitive packages for both ‘sell and stay’ and phased retirement options.” Montcalm has served the Québec City community since 1962. As a broker specializing in property and casualty insurance the company handles approximately 3,000 home, auto, and commercial insurance policies. Existing client coverage will remain in effect...

Mississauga, ON (Sept. 3, 2025) – As hurricane season peaks in September, First Onsite Property Restoration, one of North America’s largest disaster recovery and restoration providers for commercial and residential properties, has launched a dedicated hurricane preparedness page, offering practical tips to help Canadians get ready for potential severe weather. In recent years, Canada has experienced significant financial impacts from hurricane-related flooding. In 2022, flooding caused by the remnants of Hurricane Fiona in Atlantic Canada led to over $800 million in insured losses, according to CatIQ, a Toronto-based independent catastrophe insurance data provider.. More recently, in 2024, the remnants of Hurricane Debby brought extensive flooding to Ontario and Quebec, resulting in one-year industry losses of $2.8 billion—highlighting the growing economic toll of severe weather events across the country. “Hurricanes and tropical storms are inherently unpredictable, and their impacts can extend far beyond what people expect. Even storms that don’t make landfall, like the kind we saw in Quebec and Atlantic Canada in 2024, can bring heavy rain, localized flooding, strong winds, and dangerous surf, causing billions in damages,” said Jim Mandeville, Senior Vice President, Large Loss North America at First Onsite Property Restoration. Regional concerns highlighted in 2025 Weather Worries...

BrokerLink acquires Ontario-based Insure Exact Insurance and ThinkInsure, along with Alberta-based First Fruits Insurance (o/a BrokerTeam Insurance) and Costen Insurance Toronto, ON (Sept. 11, 2025) – BrokerLink is keeping the momentum going with its latest acquisitions in two Canadian provinces. In Ontario, the company added Insure Exact Insurance Brokers Ltd. (Insure Exact Insurance) on July 1 and ThinkInsure Ltd. (ThinkInsure) on September 1, while in Alberta, it welcomed First Fruits Insurance Services Ltd. o/a BrokerTeam Insurance on August 1 and Costen Insurance on September 1. These four community-based acquisitions bring a mix of best-practices, additional skills and enhanced service delivery to complement BrokerLink’s offering across Canada. Empowering customers with a digitally-driven experience Headquartered in Toronto, Ontario, ThinkInsure has established itself as one of Canada’s premier insurance brokerages. For over 15 years, it has provided Ontarians and Albertans with a comprehensive suite of personal and business insurance, including specialized travel and life insurance solutions. The team prides itself on its digital leadership, delivering real-time online quotes and a dedicated contact centre experience aimed at helping customers find the ideal coverage for their needs and ensuring their peace of mind. Strengthening community ties in Mississauga, Ontario Founded in 2008, Insure Exact Insurance...

AI-powered phishing, double extortion tactics, and insurance policy theft fuel more destructive, costly ransomware attacks San Francisco, CA (Sept. 9, 2025) – The financial fallout of ransomware attacks is climbing even as the number of cyber insurance claims falls, according to new data from Resilience, a leading cyber risk solutions company. In the first half of 2025, the average cost of an individual ransomware attack rose by 17%, while the volume of incurred claims across Resilience’s portfolio dropped by more than half (53%), highlighting the persistent and destructive threat of financially motivated cybercrime. Ransomware accounted for almost all (91%) of incurred losses in Resilience’s portfolio in the first six months of 2025. Cyber criminals are using increasingly sophisticated and profitable extortion tactics, including AI-powered social engineering, double extortion (attacks that demand two separate payments, one for data decryption and another to prevent public data release), and the theft of an organization’s cyber insurance policy to better benchmark and set higher ransom demands. These new strategies are fueling a threat landscape where fewer attacks can still cause immense financial damage. “Financial incentives are driving cyber criminals to be more clever and creative, and companies are facing larger losses than ever before,”...