Insurable Interest Canadian Insurance Blog

Strategic acquisition to extend AI capabilities across the digital roundtrip of insurance to reduce the time and cost incurred in the most critical insurance workflows Chicago, IL (Sept. 9, 2025) – Applied Systems is pleased to announce that it has acquired Cytora, the leading digital risk processing platform for the insurance industry, to accelerate Applied’s vision of delivering the Next Generation of the Digital Roundtrip of Insurance. Bringing the power of Cytora’s AI-enabled risk digitization platform, specifically built for the insurance industry, together with Applied’s leading suite of insurance solutions for agencies, carriers, and MGAs will create intelligent automation, connectivity, and collaboration at each stage of the policy lifecycle. The result of this combination will unlock growth and create significant productivity for all stakeholders in the industry. “At Applied, we are committed to being the leading specialist in insurance AI solutions for both agencies and carriers,” said Taylor Rhodes, chief executive officer, Applied Systems. “Cytora is the ultimate example of insurance-focused AI. Their commitment to leveraging advanced AI capabilities to accelerate and streamline the digitization, exchange, and prioritization of risk data between agents and carriers fits perfectly with our vision of the Digital Roundtrip of Insurance. Our collective technology assets,...

P&C premiums projected to grow in line with global GDP over the next decade, driven by rising natural catastrophe losses and asset accumulation, economic and litigation claims inflation pressures Maturing of the market characterised by entry of smaller players, outsourcing of underwriting and new ways of risk transfer Strong reinsurers and alternative risk solutions, such as captives and risk pools, enhance capacity, affordability and insurability for harder-to-cover risks Monte Carlo (Aug. 6, 2025) – The global P&C insurance market has doubled in size over the past 20 years to USD 2.4 trillion. Two decades of innovation resulted in broader access to coverage through a blend of conventional and alternative structures than 20 years ago, according to Swiss Re Institute’s latest sigma report. A growing number of smaller, specialised players drive efficiency gains, while robust reinsurers and alternative risk solutions help improve capacity in view of a riskier world. Jérôme Jean Haegeli, Swiss Re’s Global Chief Economist, says: “The rapid expansion of the P&C market is not only about scale, but also about greater capability and resilience. Insurers have become more efficient at pricing, managing and transforming risk, supporting capacity even in times of heightened uncertainty. At the same time, insurers...

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...