Insurable Interest Canadian Insurance Blog

The number of Home Energy Management Systems in Europe and North America reached 4.5 million in 2024 Gothenburg, Sweden (Nov. 7, 2025) – IoT analyst firm Berg Insight has published a new market report, The Home Energy Management Systems Market – 3rd Edition, which analyzes the latest developments and trends on the home energy management systems market in Europe and North America. This study provides 180 pages of unique business intelligence, including 5-year industry forecasts, expert commentary and real-life case studies on which to base business decisions. The Home Energy Management Systems Market The residential sector accounts for about 25 percent of the total energy consumption in North America and Europe. The consumption is anticipated to increase substantially during the coming years due to the rapid adoption of electric cars and heat pumps. Solutions that enable homeowners to reduce their overall energy consumption and increase the share of energy coming from renewable sources therefore play a vital role in the transition to carbon neutrality and mitigating climate change. To support this transition, governments in Europe and North America have introduced targeted incentives and subsidies to encourage residential investments in renewable energy and energy optimisation technologies. The rising and increasingly volatile...

Whitby, ON (Nov. 4, 2025) – Quotey is excited to announce the addition of PAL’s Motor Truck Cargo product to its growing digital commercial insurance marketplace. Effective immediately, Canadian insurance brokers using the Quotey platform can access instant quotes for Motor Truck Cargo (MTC) coverage from PAL, one of Canada’s most trusted names in transportation insurance. PAL’s MTC product provides broad coverage for loss or damage to goods in transit, with cargo limits up to $250,000 per vehicle or per loss. Brokers can quote instantly for operations with up to 25 power units, and have the option to include a $5 million Commercial General Liability (CGL) limit as part of a flexible package. Coverage enhancements such as Reefer Breakdown, Riggers Endorsement, Debris Removal, Unattended Truck Endorsements, and Trailer Interchange coverage are also available. “PAL’s inclusion in the Quotey Marketplace significantly enhances our transportation offering,” said Nick Kidd, CEO and Co-Founder of Quotey. “Motor Truck Cargo is a critical coverage for brokers serving Canada’s logistics and freight industries. With PAL’s broad appetite and instant quote capabilities, brokers can now provide faster, more comprehensive solutions to their clients.” Russel Morrison, VP of Commercial Insurance for PAL added: “We’re delighted to partner with...

Policyholders and brokers can now view Privacy Risk insights in Cyber Risk Assessments and Coalition Control® to better understand potential data privacy exposures Company releases The State of Web Privacy report, the cyber insurance industry’s first comprehensive analysis of wrongful collection claims San Francisco, CA (Nov. 5, 2025) — Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, is pleased to introduce Active Privacy Protection, a comprehensive suite of product enhancements, coverage benefits, and industry-first research that applies Coalition’s revolutionary approach to cyber risk management to privacy. Now, in addition to benefitting from existing wrongful collection coverage via Coalition’s Active Cyber Policy,† policyholders and brokers can receive Privacy Risk insights within Coalition’s Cyber Risk Assessments. These customized insights reveal potential privacy exposures on businesses’ websites, including high-risk tracking technologies, missing consent mechanisms, and possible gaps in privacy policies. Privacy Risk insights are also available in Coalition’s cyber risk management platform, Coalition Control, providing a holistic picture of both cyber and privacy risk postures in a single place. “Coalition’s Active Insurance has already demonstrated that complete cyber protection comes not only from financially covering losses, but also from helping policyholders prevent them in the first...

New report shows 81% increase in regulatory compliance costs at a time when Canada grapples with dragging productivity — By Insurance Bureau of Canada (IBC) — Regulatory compliance costs across Canada’s property and casualty (P&C) insurance sector have surged by 81% since 2022, according to a new Regulatory Compliance Cost Survey by Insurance Bureau of Canada (IBC). That’s nearly 13 times the rate of inflation and six times greater than the industry’s own revenue growth. The survey reflects input from 24 of IBC’s member companies, representing 61% of the Canadian P&C market, and covers calendar years 2022–2024.[1] Key findings include: Total regulatory compliance costs reached $753 million in 2024, up from $416 million in 2022 – an 81% increase over just two years. Respondents said they expect costs to go up further in 2025. Internal labour accounted for nearly three-quarters of total costs, including a 26% increase in full-time employees required to comply with growing regulatory pressures. Insurers continue to spend significant time on both federal and provincial compliance requirements. The largest share – 40% – was spent with respect to compliance requirements of the federal solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI). “As Canada grapples with...