Insurable Interest Canadian Insurance Blog

New Brunswick emerges as the Atlantic auto theft capital, with highest claims costs in 2024 Toronto, ON (July 14, 2025) – New data released by Insurance Bureau of Canada (IBC) show that the cost of auto theft in the Atlantic region has risen dramatically over the past decade in all four provinces, especially in New Brunswick. Despite dipping slightly in 2024, Atlantic Canada has seen an alarming increase in both the number of auto thefts and the related costs since 2014. Last year, auto theft insurance claims costs exceeded $31 million compared to $8.4 million in 2014 – a staggering 275% increase. New Brunswick has become the auto theft capital of the region, with 788 auto theft claims in 2024 at a cost of over $16 million. Auto theft–related claims have increased 228% since 2014. Over the past decade, the three cities in Atlantic Canada with the largest increases in claims costs due to auto theft are all in New Brunswick: Saint John (520%), Moncton (746%) and Fredericton (1,672%). “All orders of government should continue to take action on the auto theft crisis in Atlantic Canada and across the country. However, it is most critical to tackle the crisis in...

Creation of a leader in Intelligent Operations to capture enterprise investment in Agentic AI to transform their end-to-end business processes Acquisition of a leading player in Digital BPS (Business Process Services) to combine capabilities and scale to address the strategic opportunity driven by Agentic AI Transaction immediately accretive to Capgemini’s revenue growth and operating margin Expected accretion to Capgemini’s normalized EPS of 4% before synergies in 2026, and 7% post-synergies in 2027 Definitive transaction agreement entered into pursuant to which Capgemini will acquire WNS for a cash consideration of 76.50 USD per share Transaction unanimously approved by the board of directors of both companies and expected to close by the end of the year Paris, France (July 7, 2025) – Capgemini, a global business and technology transformation partner, and WNS, a leading digital-led business transformation and services company, today announced that they have entered into a definitive transaction agreement pursuant to which Capgemini will acquire WNS for a cash consideration of 76.50 USD per WNS share, which represents a premium of 28% to the last 90-day average[1] share price, of 27% to the last 30-day average[1] share price and a premium of 17% to the last closing share price on...

ZORRO Discover™ automatically converts regulatory filings into actionable market intelligence – potentially saving insurers billions in costs San Francisco, CA (July 15, 2025) – ZestyAI, the leader in AI-driven risk analytics for insurance, is pleased to announce the launch of ZORRO Discover™, a generative AI agent that delivers instant insights into regulatory filings and competitive market activity. Regulatory research remains one of the costliest inefficiencies in insurance, with an estimated $2.5 billion spent annually on manual reviews. The process consumes millions of hours across fragmented workflows, as filings often stretch into the thousands of pages, slowing competitive analysis and strategic decision-making. To solve this, ZestyAI built ZORRO Discover on a proprietary generative AI pipeline, leveraging large language models optimized for insurance-specific content, including filings, objections, responses, and regulations from all 50 states. Using agentic AI, the platform proactively navigates and synthesizes regulatory data, delivering a fast, intuitive experience tailored to the structure and language of insurance filings. Early adopters of ZORRO Discover have found insurers can cut research time by an average of 95%, saving thousands of work hours and millions in costs. “For too long, regulatory filings have buried critical intelligence under layers of complexity,” said Kumar Dhuvur, Founder...

Intact launches “Keep It Intact” Program with practical tools to empower homeowners to take action and protect their homes Toronto, ON (July 14, 2025) – As extreme weather events continue to rise, Canadians are increasingly concerned about what a changing climate means for their homes and communities. A recent national survey reveals that 80% of surveyed Canadians[1] believe we can do something to respond to the increasing number and severity of extreme weather events, but a notable gap persists between this belief and meaningful action. While 57% of surveyed Canadians[1] are thinking about or have taken some steps to protect their homes from extreme weather events, only a small fraction, 9%, have implemented several concrete actions. Barriers to acting include uncertainty about what steps to take, cost, and perceived lack of necessity. This perception gap persists despite a record-breaking summer of catastrophic weather events across Canada in 2024, which saw over $7.7 billion in insured losses and a 406% spike in insurance claims compared to the 20-year average.[2] This underscores the urgent need for better public understanding of home vulnerability and for practical tools that make the risks and the solutions more tangible. To close the gap between intention and...

Toronto, ON (July 18, 2025) – QuickFacts, an InsurTech software provider for insurance brokerages, is pleased to announce a new partnership with Red River Mutual. This collaboration helps Red River Mutual deliver on its long-standing commitment to brokers by giving them faster, easier access to critical underwriting information, helping them quote accurately, avoid rework, and serve their clients with confidence. Red River Mutual has been part of Canadian communities since 1875, with policyholders stretching from Thunder Bay to the Rockies. As a mutual insurer, it’s owned by its policyholders, not shareholders, which means decisions are made with people in mind. Whether protecting a family farm, small business, or home, Red River puts people first, both in the community and inside the company. With QuickFacts, Red River Mutual broker partners will now have access to a searchable platform that centralizes carrier underwriting guidelines. Instead of sifting through PDFs and risking submitting improper business, brokers can find the most current information in seconds. That kind of efficiency helps brokers stay responsive, reduce back-and-forth, and spend more time focusing on their customers. “Red River Mutual understands what brokers are up against,” said Christy Barsalou, President & CEO of QuickFacts. “Their team is making...