Insurable Interest Canadian Insurance Blog

Staff  | October 6, 2020 Hub International Ltd. is acquiring Clearpoint Benefits Solutions, which includes Clearpoint Advisory Group Inc., Clearpoint Retirement Solutions Inc. and Canwest Group Benefits Inc.  Clearpoint, which is located in Edmonton, with additional locations in Grande Prairie, Alta. and Fairview, Alta., is a benefits and retirement consulting firm. Read: Hub International acquires assets of Toronto-based benefits firm “Clearpoint is a great addition to our employee benefits and retirement team,” said David Moon, president and chief executive officer of Hub International Canada West, in a press release. “Their experience and depth of expertise will complement our existing capabilities, expand our services and drive continued growth.” The principals of Clearpoint — Darren Smith, Sid Swick and Jim Yih — will join Hub Canada West. “Hub’s dedicated commitment to employee benefits and retirement solutions fits well with our mission,” said Smith. “We are keen to help continue to grow the practice and to provide clients with genuinely unique and tailored services.” Read the full article at BenefitsCanada.com

Being a safe driver never tasted so good Toronto, ON (Oct. 5, 2020) – Onlia, Ontario’s fast-growing provider of online home and auto insurance, is pleased to announce a new collaboration with Ultimate Dining Card®. Effective October 1, users of Onlia’s safe-driving app, Onlia Sense™, can now unlock rewards that can be redeemed at Recipe Unlimited Corporation’s participating restaurants. “For years, Onlia has promoted road safety through Onlia Sense™, a driving app available free to all Canadians, that coaches safe driving and provides rewards like gift cards and cashback for good behaviour,” said Pieter Louter. “By teaming up with The Ultimate Dining Card®, we’re now able to celebrate safe road usage and inject funds in our user’s entertainment budgets.” The Onlia Sense™ app uses an innovative coaching approach based on nudge theory and behavioural economics. Using telematics to track driving behaviour, it helps users proactively develop safer habits while earning rewards for improved driving behaviour. Now, rewards for safe driving can be redeemed at restaurants across the country, helping to fulfill Onlia’s mission to make Canada safer. On a monthly basis, Onlia Sense™ users can earn Ultimate Dining Cards valued between $5 – $100 by unlocking everyday driving badges, completing...

Family-owned Managing General Agency acquisition supports firm’s expansion strategy Toronto, ON (Oct. 1, 2020) – Guardian Capital Group Limited (Guardian) is pleased to announce that its subsidiary, IDC Worldsource Insurance Network Inc. (IDC WIN), has acquired Copoloff Insurance Agencies (Canada) Ltd., Shelly K. Copoloff Insurance Agencies Inc. and Rate Watchers Life Insurance Brokers Ltd. (collectively, Copoloff), a managing general agency (MGA) with its head office based in Montreal, Quebec. Founded in 1964, Copoloff supports advisors across Canada, offering access to a comprehensive range of insurance products and business development resources. The transaction will add approximately $2 million in renewal commission revenue and $400 million in assets under administration to IDC WIN. “This transaction follows IDC WIN’s acquisition of Aurrea Signature Inc. in late 2019, and represents another step towards its stated goal to be the primary MGA in the independent advice channel across Canada. We are pleased with the resilience of the MGA business unit through a challenging year; having Copoloff joining Guardian enhances IDC WIN’s place in the industry,” said George Mavroudis, President and Chief Executive Officer, Guardian Capital Group Limited. “Our goal is to be the industry’s leader,” noted Phil Marsillo, President, IDC WIN, “and we’re working towards...

Sun Life urges Canadian companies to make mental health a C-suite business priority Toronto, ON (Oct. 5, 2020) – Ahead of World Mental Health Day on October 10th, Sun Life is urging Canadian companies to join them in creating mentally healthy workplaces by deepening investments in workplace mental health support and elevating mental health as a priority for the C-suite. As Canadians continue to navigate COVID-19 and its related challenges, a recent Sun Life survey revealed nearly 60 per cent of Canadians say their mental health has been negatively impacted. As part of Canada’s holistic recovery, Sun Life and the Centre for Addiction and Mental Health (CAMH) are urging companies to take action now. “Canada was already facing a mental health crisis prior to COVID-19. The pandemic has amplified the crisis, and poses potential mental health impacts for years to come,” says Jacques Goulet, President, Sun Life Canada and Lumino Health. “To restart Canada’s economy successfully, we need to do everything we can – as leaders – to empower our workforces in managing their wellbeing and creating healthier work environments. We can’t wait for the pandemic to be over to invest in mental health support. We know Human Resource professionals...

#1 auto insurer in California for customer satisfaction in J.D. Power’s ranking† aims to make HONK’s roadside assistance a key brand builder for customer loyalty Los Angeles, CA (Oct. 1, 2020) – HONK Technologies, the platform connecting drivers, towing professionals, and insurers, is pleased to announce that it will begin managing one of Wawanesa Insurance’s key customer touchpoints, their roadside assistance program, effective September 29, 2020. Wawanesa’s company culture is passionate about customer satisfaction, and that focus has paid off. In June, for example, J.D. Power ranked Wawanesa Insurance #1 in customer satisfaction among auto insurers in California.† With roadside assistance as one of their most frequent insurance claims, Wawanesa wanted to ensure the customer experience during these key touchpoints exceeded their customers’ expectations. Wawanesa turned to HONK, not only because HONK has maintained a Net Promoter Score (NPS) of near 90 with its customers, but also for its full data transparency into their roadside assistance program. HONK provides an inside view into real-time performance analytics for all service requests, including customer ratings, comments, sentiment, volume trends and time to arrival. Having access to this type of customer touchpoint data better supports Wawanesa’s goal of delivering superior service. “HONK’s digital...

New partnership to provide intelligent 24/7 monitoring of agricultural electrical systems Listowel, ON (Oct. 1, 2020) – Trillium Mutual Insurance Company is very pleased to announce that it has partnered with PrevTech Innovations to reduce Agricultural structure fires. Trillium has pre-purchased a number of PrevTech Smart Sensor units which will immediately be made available to any of their Agri-business Members who are invested in effective risk management. Trillium Mutual has also developed an industry unique incentive for our Members who adopt the solution. According to the Canadian Farm Builders Association, more than 40% of farm fires are caused by faulty electrical systems. Fire is one of the leading causes of loss to agricultural operations across Ontario, resulting in millions of dollars in damages every year. Fire is one of the leading causes of loss to agricultural operations across Ontario, resulting in millions of dollars in damages every year. PrevTech provides Prevention and Protection for Agricultural operations. The solution is simple to install and non-invasive. The unit continuously monitors the network for electrical and thermal anomalies and provides early warning of potential failures and preventative diagnostics. When a fault is detected, it simultaneously alerts the farmer, their electrician, and PrevTech’s team....

Jennifer Paterson | October 6, 2020 KPMG in Canada is introducing an app to help its employees — and other organizations — manage the return-to-work process. The workforce safeguarding app, which was launched this week, aims to accelerate the safe return of employees to their physical workplaces. Designed to create connected experiences with staff and promote health and safety, it includes critical information and support, integration with existing technology, an easy-to-use platform to streamline reopening processes and resources to foster employee health, well-being and engagement. Read: Employee well-being critical to return to work after pandemic The app was borne out of the challenges around sharing information at the onset of the pandemic. “When the pandemic started, we certainly recognized that there was a lot of information that employees needed to have access to,” says Amanda Perran, partner in advisory services at KPMG. “It was important that we leveraged the available digital technologies that we had at our disposal to share information in a timely manner, but also collect information from them around how they were feeling and any additional support they required.” It features a notification centre for important news and announcements, a personal risk assessment questionnaire and a daily check-in so employers can monitor employees’ general...

GlobeNewswire Sammons Financial Group has named Eric Lin as senior vice president and corporate actuary. The promotion was effective Sept. 30, 2020. Lin joined Sammons Financial Group in 2019. During his tenure, Lin has helped manage actuarial transformation initiatives, such as implementing principal-based reserving, GAAP accounting changes (LDTI), actuarial software conversion, and data infrastructure development. “Eric has done a remarkable job modernizing our actuarial efforts,” said Don Lyons, senior vice president and chief financial officer of Sammons Financial Group. “Eric’s strong leadership skills, positive attitude, and commitment to our culture and values make him the ideal person to lead the corporate actuarial team.” Lin replaces Tim Reuer, who will retire from the company on Dec. 31, 2020. “Tim has been heavily involved in the company’s actuarial community to promote cross-functional collaboration and manage actuarial talent initiatives. We’re grateful for Tim’s unconditional dedication and his incredible leadership throughout the years,” added Lyons. Advertisement About Sammons® Financial Group, Inc.The companies of Sammons® Financial Group, Inc. help families and businesses protect their future to enjoy life’s moments today. A subsidiary of Sammons Enterprises, Inc., Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Our...

AXA’s annual ranking of the 10 major emerging risks marked by the health crisis Pandemics and infectious diseases move from 8th to 1st place in one year Climate change remains #1 risk in Europe but drops in Asia and America Hamilton, Bermuda (Oct. 1, 2020) – AXA has published the seventh edition of its Future Risks report. This global study measures and ranks changes in the perception of emerging risks by a panel of risk management experts and the general public. Over 20,000 people were interviewed. Conducted in partnership with research institute IPSOS and geopolitical analysis consultancy Eurasia Group, this year’s ranking of the 10 main emerging risks is marked by the Covid-19 crisis. Previously underestimated risks related to pandemics and infectious diseases rise from eighth in 2019 to top the 2020 ranking. Climate change-related risk comes in second, dropping from the top spot it has held for years. Climate change remains the number one risk in Europe but falls to third place in Asia and America. The drop is particularly marked in North America, where the share of experts who consider this risk major has fallen from 71% in 2019 to 46% in 2020. Cybersecurity risk, ranked third, increases...

Staff | October 5, 2020 The Caisse de dépôt et placement du Québec is part of a group investing $150 million in Quebec-based agri-food company Sollio Cooperative Group. The other investors include Rabobank Capital, a co-operative bank in the Netherlands, as well as two Quebec-based investment funds, the Fonds de solidarité FTQ and Fondaction. Read: Caisse invests in sustainability, OMERS and Ontario Teachers’ sell stake in utility “Sollio Cooperative Group plays a leading role in our agri-food sector,” said Marc Cormier, executive vice-president and head of fixed income at the Caisse, in a press release. “Its business model is built around companies that meet essential needs and have a clear economic impact on the whole of Quebec.” The investment will go toward improving and modernizing production and product offerings, according to the release. “We’re at the tail end of a period of major growth and this investment will help accelerate our optimization process by facilitating digitization and innovation,” said Gaétan Desroches, chief executive officer of Sollio. “[It will also] maintain our leadership in agri-food and retail in Quebec and Canada and mitigate the effects of COVID-19 on our growth plans,”  Read: Caisse investing in European nursing home company Read the full article at BenefitsCanada.com