Insurable Interest Canadian Insurance Blog

Significant progress made in last two years, ongoing work needed to continue decreasing auto theft — Roughly two years ago, on February 8, 2024, the federal government hosted the National Summit on Combating Auto Theft in response to a sharp rise in auto theft across the country. Since then, and as a result of the efforts of governments, law enforcement and other stakeholders, the number of auto theft claims has declined by 27% over the last two years.[1] “Since the summit, considerable progress has been made in the fight against auto theft,” said Liam McGuinty, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC). “Auto theft rates have dropped, thanks in large part to concerted efforts by governments and law enforcement to ensure stolen vehicles are seized before they leave Canada’s ports.” The federal government’s National Summit on Combatting Auto Theft brought together all orders of government, law enforcement, border and port officials, insurers and auto manufacturers to find solutions to the crisis. It resulted in the National Action Plan on Combatting Auto Theft (Action Plan), which outlines a series of actions focused on disrupting, dismantling and prosecuting the organized crime groups behind auto theft. IBC notes that the federal government...

Edmonton, AB (Feb. 9, 2026) – Axis Insurance Managers Inc. has announced its acquisition of Treasures Insurance Edmonton Inc., further strengthening Axis’s footprint in Alberta and enhancing the combined firm’s ability to provide comprehensive insurance and advisory services across Canada. The acquisition unites two organizations that share a commitment to client-focused service, integrity, and customized insurance expertise. Treasures Insurance Edmonton is well regarded for its personalized commercial and personal insurance solutions, while Axis brings the capabilities of a full-service, national brokerage. As part of this transition, Chris Waye has joined Axis Insurance as Senior Vice President, Corporate Development & Director Edmonton, supporting the expansion of Axis’s footprint in Edmonton. Axis Insurance is an award-winning brokerage offering comprehensive risk management and insurance services to local, national, and international clients. Since 1928, Axis has grown into a leading national brokerage with over 400 dedicated professionals who specialize in assessing business and personal risks, delivering solutions to mitigate, reduce, or transfer them. Axis is committed to creating tailored strategies that empower clients to embrace risk as a pathway to growth and resilience. As a full-service brokerage, Axis specializes in commercial insurance, personal insurance, life, employee benefits, and wealth advisory services. Axis’s success stems...

Toronto, ON (Jan. 22, 2026) – BOXX Insurance, the original all-in-one cyber insurance and protection company, has findings revealing the increasing importance of artificial intelligence (AI) as a core capability for Canadian Insurance Brokers placing commercial and personal cyber and tech coverage. 100% of Brokers Report Using AI but Human Expertise Still Reigns The findings highlight that AI is now embedded within everyday Broker workflows, helping them simplify complex cyber risks, surface emerging threats and deliver faster, clearer, and more tailored advice to clients. All cyber and tech insurance Brokers (100%) surveyed  reported using AI in their day-to-day work at least multiple times per day. Thirty-five per cent of respondents reported relying on AI tools or chatbots to stay informed on market shifts and emerging risks, whilst 52% reported using AI to explore trends and 47% used it to compare information. By using AI to leverage trusted data sources and industry expertise, Brokers can offer timely and bespoke advice to their clients. Despite this surge in AI usage, Canadian Brokers aren’t abandoning traditional wisdom as they continue to access authoritative sources to understand trends via company and industry reports, trade media and professional associations or Broker networks. Brokers Anticipating Faster...

Governments urged to significantly boost investments in resiliency to better protect communities Toronto, ON (Jan. 27, 2026) – Insured damage caused by severe weather events exceeded $2.4 billion in 2025, according to Catastrophe Indices and Quantification Inc. (CatIQ). This makes 2025 the tenth costliest year on record for severe weather–related insured losses in Canada. Noteworthy severe weather events in 2025 include the late-March ice storm in Ontario and Quebec, May wildfires in Flin Flon, Manitoba, and La Ronge, Saskatchewan, a July hailstorm in Calgary, Alberta, severe storms across the Prairies in August that caused significant hail damage to vehicles in Brooks, Alberta, and December floods in British Columbia. March 28–31: Ontario and Quebec ice storm – $490 million May: Flin Flon and La Ronge wildfires – $300 million July: Calgary hailstorm – $160 million August: Prairie severe storms – $235 million December: BC atmospheric river series – $90 million “Severe weather events continue to intensify. Two decades ago, insured losses seldom surpassed $500 million in a year. Today, annual costs exceeding $1 billion have become the norm. This shift demands that we fundamentally rethink how we build, plan and restore communities across our country,” said Celyeste Power, President and CEO, Insurance...

By Sanjay Malhotra, CEO, Brisc AI — As generative AI continues to transform industries, one thing has become clear: insurance is different. While ChatGPT, Gemini, and Claude can generate content and answer questions with impressive fluency, they weren’t built to automate insurance submissions, reconcile bordereaux files, or triage claims. The needs of carriers, MGAs, and reinsurers go beyond text generation. They require accuracy, compliance, auditability, and deep operational context. Generic AI introduces too much risk and too little return. The future of AI in insurance lies with insurance-native AI solutions designed to understand the language, logic, and nuance behind every policy, claim, and decision. Key Takeaways Insurance-native AI is purpose-built to handle the complexity, regulation, and workflows unique to insurance. Generic AI lacks context and often hallucinates, posing significant risk in compliance-driven environments. Vertical, agentic AI platforms deliver faster ROI, cleaner data, and more trustworthy outputs by acting within insurance context. What Is Insurance-Native AI? Insurance-native AI refers to artificial intelligence tools and agentic systems built specifically for the insurance industry. Unlike general-purpose AI trained on broad datasets, these systems are fine-tuned with insurance-specific context, using verified data, workflows, and domain rules to guide outputs. They operate within the real-world...