Insurable Interest Canadian Insurance Blog

Kelsey Rolfe | December 16, 2019 The union representing 33 employees of the Northumberland County social services department says the county is attempting to weaken employees’ short-term disability leave and remove their right to work a compressed workweek. On Dec. 12, the Canadian Union of Public Employees Local 3725 began contract negotiations with the county using a provincially appointed conciliator. Union members — who are county employees in income support, housing, childcare and outreach — have been working since Sept. 30 without a contract. Jaime Bingham, president of Local 3725, says a second day of conciliation will be scheduled for the new year. Read: Western Forest Products, union at impasse over LTD benefits, wages Currently, union members have a short-term disability plan that provides employees with 17 weeks of sick leave paid at 100 per cent of their salary. Northumberland County is seeking to remove that provision and replace it with three days of fully paid leave, with the remainder of an employee’s leave paid at 75 per cent. “We have an aging workforce, so . . . more and more of our workers are going off [to have] necessary surgeries,” said Bingham. “Reducing [the STD leave] to 75 per cent means you may refuse...

Brown & Brown, Inc. Enters into Agreement to Acquire Special Risk Insurance Managers, Ltd. Daytona Beach, FL (Dec. 9, 2019) – J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, Inc., and Mark Woodall and Tom Willie, the principals of Special Risk Insurance Managers, Ltd. (“Special Risk”), are pleased to announce that Brown & Brown Programs (CA), Inc. has entered into an agreement to acquire the assets of Special Risk. The transaction is expected to close effective January 1, 2020, subject to certain closing conditions. Founded in 1991, Special Risk has grown to a preeminent player in the MGA industry in Canada, recognized as MGA of the Year in 2018. The acquisition of Special Risk is a strategic step forward for Brown & Brown in establishing a presence in the Canadian insurance brokerage market. Special Risk will operate as a part of Brown & Brown National Programs, which, under the leadership of Chris Walker, consists of over sixty specialty niche programs and collectively represents over $3 billion in written premium. Special Risk will become a distinct operating division in the National Programs Division alongside specialist operations such as Arrowhead General Insurance Agency and Bellingham Underwriters. Mark Woodall will continue...

With technical upgrades, more options and a sharp new look, finding a safe ride home is easier than ever Regina, SK (Dec. 12, 2019) – Looking for a safe ride home? Let the updated SGI Safe Ride app be your wingman. The SGI Safe Ride app allows users to have a number of safe ride options right at their fingertips, including (recently added!) rideshare information, taxi and designated driving companies, bus routes, and their own personal designated drivers list of friends and family. “SGI is committed to reducing impaired driving in Saskatchewan, and this app has been helping people find a safe ride home since 2012,” said Penny McCune, Chief Operating Officer of the Auto Fund. “The latest technical upgrades mean a faster and easier user experience and include the addition of rideshare options now that these are available in some Saskatchewan communities. The refreshed look builds on our Be a Good Wingman message, reminding people to never let impaired friends and family drive.” In 2018, impairment was a factor in 739 collisions, resulting in 359 injuries and 43 deaths on Saskatchewan roads. The Be a Good Wingman campaign encourages people to not let friends and family drive impaired and...

Calgary, AB (Dec. 9, 2019) – Andrew Kemp and Lee Rogers are pleased to announce that CapriCMW has made a substantial equity investment in Rogers Insurance, and is now one of their largest shareholders. CapriCMW and Rogers Insurance have been working closely together for over 15 years within the Canadian Broker Network (CBN) and this is the next stage of the CBN’s new business plan to achieve scale and additional capabilities by aligning the two companies even more. Rogers and CapriCMW have many of the qualities we most value in common including: Wide employee share ownership; Recognition as top employers; Business models that attract and retain talent for the long term; Creating customer value through independent employee ownership; Achieving significant returns for employee shareholders through organic growth and acquisitions. The partnership brings the two organizations even closer together as they collaborate to achieve scale and deeper relationships with insurers in alignment with the CBN mission – becoming the dominant platform in Canada to precipitate the success of independent brokerages. “We are very excited to be formalizing this strategic relationship with Rogers Insurance,” said Andrew. “As CBN members, we have been collaborating for years, sharing best practices, resources and expertise to...

Collaboration gives Microsoft customers access to on-demand, cloud-based cyber insurance for the first time New York, NY (Dec. 11, 2019) – AXA XL, the P&C and Specialty Risk Division of global insurer AXA, Slice Labs Inc., the leader of on-demand insurance cloud technology, and Microsoft will work together to help improve cyber health and mitigate risks for Microsoft 365 Business, Office 365 Business Premium and Office 365 Business customers. The new relationship will give qualifying customers discounted access to Slice on-demand, cloud-based cyber insurance provided by AXA XL. Microsoft customers will benefit from a holistic end-to-end solution that won’t just help them secure their environment but will give them the critical services and support they need for incident response and remediation in the event of a successful cyber-attack. These services are all part of AXA XL’s cyber insurance policy, which will be offered at discounted pricing to qualified customers who represent a lower insurance risk based on a security posture assessment that will be provided by Microsoft Secure Score. Recent Forrester survey results found that cybersecurity attacks are a business reality for small and mid-size businesses (SMBs), with nearly half having had a breach within the last year. What was...

Toronto, ON (Dec. 13, 2019) – More than half (56%) of Canadians still don’t know they have new rights as air travellers, according to research released today by the Canadian Automobile Association (CAA). “It is clear that the government and the airlines need to do more to ensure Canadians know their rights,” says Jeff Walker, chief strategy officer, CAA National. “As we head into the holiday travel season, it’s even more important travellers are aware of the new system and how to make claims.” Nearly six months ago, the Government of Canada announced the first phase of an air passenger rights regime that includes compensation as high as $2,400 for being bumped, more money for lost or damaged baggage, and a requirement that airlines provide travellers with clear communications on their rights and how to claim them. A second, bigger bundle of rights will be introduced December 15. New protections include cash compensation for long delays and cancellations. In addition, airlines will be required to rebook or refund travel that is delayed more than three hours or cancelled. And airlines will now be required to facilitate seating of children under the age of 14 with their parent at no cost....

Staff | December 16, 2019 Employees at Eacom Timber Corp. have a new six-year collective agreement, which includes improvements to the pension and benefits plan. The lumber operation employs 160 people at its Timmins, Ont. mill and regional administrative centre, 110 of whom are members of the United Steelworkers Local 1-2010. Prior to the agreement, employees contributed a mandatory $120 to their defined contribution plan each month, while the employer doubled that contribution at $240. On ratification, the monthly contributions will rise to $130 for employees and $260 for the employer. It will increase again on Sept. 1, 2021 — $140 per employee and $280 for the employer — and Sept. 1, 2022 — $160 per employee and $320 for the employer. Read: VIA Rail, Unifor collective bargaining includes strengthening pension plan The collective agreement also includes increases to a pension bridging supplement for workers who retire between ages 60 and 65, according to the union. The existing pension supplement is $16 per month, per year of service. It will increase to $18 a month on Sept. 1, 2020 and will steadily rise until Sept. 1, 2024, when it reaches $25 a month. The agreement also includes coverage under the prescription drug plan and life insurance plan for employees who...

Staff | December 13, 2019 Two-thirds (65 per cent) of Canadian millennials said they worry if they buy a home and delay their savings, they won’t have enough for retirement, according to a new survey by KPMG. However, among millennial survey respondents who do own a home, 42 per cent said they’re putting their retirement savings on hold to pay off, or pay down, their mortgage. “The financial future for millennials is vastly different from that of previous generations,” said Martin Joyce, partner and national leader of human and social services at KPMG, in a press release. “They face unique challenges when it comes to building wealth despite having more education and income, primarily because of housing unaffordability.” Read: Surveys show pension concerns for both Canadian millennials, seniors The survey, which polled 2,500 Canadians, including 1,000 millennials, also found 90 per cent of this age group believe people will remain in the workforce longer and 84 per cent think the retirement age will be higher than 65. Among all survey respondents, 77 per cent said they expect there will be a significant shortfall in retirement savings. A majority also said more Canada Pension Plan/government benefits will be required to support income needs (82 per cent), that the...

Staff | December 13, 2019 The federal government is giving the Prince Edward Island Human Rights Commission and the Community Legal Information Association of PEI $1.7 million over five years for a public awareness campaign on workplace sexual harassment. The campaign, which will be aimed at employers and employees, will include training designed for employers to support the prevention and identification of sexual harassment in the workplace. Read: Government releases results of workplace harassment, violence consultation “The PEI Human Rights Commission is very pleased to receive support from Department of Justice Canada to increase our capacity to address sexual harassment in the workplace,” said Brenda J. Picard, executive director of the PEI Human Rights Commission, in a press release. “We look forward to working with local businesses to design programs of prevention and resolution of situations of sexual harassment in the workplace. Creating and restoring safe and healthy workplaces, free of sexual harassment, is beneficial to all employees and the business itself.” The CLIA of PEI project will provide a free legal advice program for victims of workplace sexual harassment. Alongside the PEI Human Rights Commission, the association will also develop a public legal education campaign for employers and employees. “The Community Legal Information Association of PEI has been a...

Staff | December 13, 2019 The majority (70 per cent) of U.S. employees said their top financial concern is saving enough money for retirement, according to a new survey by StanCorp Financial Group Inc. The survey, which polled 1,000 full-time U.S. employees between the ages of 21 and 69, also found 57 per cent said they’re also concerned about monthly expenses, medical expenses (52 per cent) and financial support if they became disabled (52 per cent). “The majority of employees are most concerned with money for retirement,” noted the report. “It’s more important than ever that [employers] communicate with them about how impactful engaging with their retirement plan can be.” Read: Canadians worry about outliving retirement savings: surveys Some 89 per cent of survey respondents said they participate in their employer-sponsored retirement savings plan and 62 per cent said they consider retirement planning a high priority. Almost half (48 per cent) said they’d be interested in auto-enrolment or automatic contribution increases in their workplace plan. However, only a third of employees said they’re confident with their current retirement plan. The other two-thirds said they don’t feel as good about their retirement plans as they wish they did. About four in 10 (39 per cent) survey respondents respondents said they’re...