Insurable Interest Canadian Insurance Blog

Accenture report identifies four critical actions to strengthen cyber defenses in an AI-driven world New York, NY (Jun. 26, 2025) – As artificial intelligence (AI) radically reshapes business, a vast majority of organizations (90%) are not adequately prepared to secure their AI-driven future, according to a new report from Accenture. Globally, nearly two-thirds (63%) of companies are in the “Exposed Zone,” indicating they lack both a cohesive cybersecurity strategy and necessary technical capabilities. Accenture’s “State of Cybersecurity Resilience 2025” report is based on a survey of 2,286 cybersecurity and technology executives from large organizations around the globe. It reveals that the rapid AI adoption has dramatically accelerated the speed, scale and sophistication of cyber threats, far outpacing current enterprise cyber defenses. For example, more than three-quarters (77%) of organizations lack the essential data and AI security practices needed to protect critical business models, data pipelines and cloud infrastructure. “Rising geopolitical tensions, economic volatility and increasingly complex operational environments, coupled with AI-augmented attacks, are leaving organizations more vulnerable to cyber risks. This report serves as a wake-up call that cybersecurity can no longer be an afterthought. It must be embedded by design into every AI-driven initiative,” said Paolo Dal Cin, global...

Hoosier drivers can now access tech-powered coverage built for today’s world New York, NY (July 7, 2025) – Lemonade, the digital insurance company powered by AI and social impact, is pleased to announce the launch of Lemonade Car in Indiana, marking the latest step in the company’s expanding U.S. footprint. Drivers across the state can now access Lemonade’s full suite of insurance products—all built for the digital age. As laid out in recent quarterly results and at Investor Day, Lemonade Car is a key growth driver in the company’s strategy. Q1 2025 marked the first quarter where Car’s sequential in-force premium (IFP) growth outpaced the rest of Lemonade’s book—underscoring its accelerating momentum. Following the recent launch in Colorado, Indiana is the next step in a series of state rollouts planned for 2025. With this addition, Lemonade Car is now available in states representing approximately 42% of the U.S. car insurance market. Hoosiers spend an estimated $5 billion annually on car insurance, and Lemonade’s existing customers in the state already account for hundreds of millions in annual premiums—making Indiana a natural fit for the company’s expanding car product. “Car insurance hasn’t kept up with how people actually drive today,” said Daniel...

By Stephen Brandt, Chief Development Officer, InnSure Corporation — More and more, we are seeing communities being left behind with little help from insurance. The devastation from Hurricane Helene last fall, for example, resulted in insured losses of approximately $10 billion, a mere fraction of the storm’s total economic impact, which ranged from $30-50 billion at conservative estimates. When considering the staggering high-end estimates of over $200 billion in economic damage, the role of insurance is alarmingly irrelevant. Regardless of why this is happening, the protection gap is threatening communities’ viability, as property values and tax bases are at risk of being wiped out overnight. Uninsured really means self-insured if you are a community leader.  Communities not only bear the financial burden of responding to major weather events without insurance, they are unable to see a future where the burden is lessened. InnSure is helping these communities get on a path forward that can give them a plan for the future.  By fully understanding the cost of events on the whole community, not just the insured property, they can begin to shape their future with insurability at the core.  Changing their perspective on financial protection and seeing “Insurance as Infrastructure”,...

Toronto, ON (July 3, 2025) – BOXX Insurance Inc., a global cyber Insurtech, is pleased to announce it has entered into an agreement to be acquired by Zurich Insurance Group, a leading global multi-line insurer. BOXX is known as the original all-in-one cyber insurance and protection company, serving customers across five continents. The transaction will see BOXX continue to operate as a standalone entity. “Becoming part of Zurich provides us with the resources and global reach to accelerate our mission,” said Vishal Kundi, BOXX Insurance CEO and Co-Founder. “Combining the strengths of both organizations, will enable us to provide even more customers with the protection they need to navigate the digital world with confidence.” Cara Morton, CEO Zurich Global Ventures, said: “We have had a very successful collaboration with BOXX since 2021, and I am thrilled to strengthen our partnership by welcoming BOXX to Zurich Global Ventures. BOXX’s digital-first, service-led approach will help us further enhance customer engagement and provide integrated solutions that make people’s everyday life easier.” BOXX will be integrated into Zurich Global Ventures (ZGV), accelerating its ambition to grow its cyber offering for retail and SME customers and expand the range of value-adding solutions with a global...

Vancouver, BC (July 2, 2025) – Axis Insurance Managers Inc. (Axis Insurance) is pleased to announce that J.T. Insurance Services (Canada), Inc. has officially joined the firm. Established in 1969, JT Insurance has built a strong reputation for its expertise in real estate, construction, and serving high-net-worth clients. Their expertise in these key sectors strengthens Axis Insurance’s presence and service depth in core markets. JT Insurance, owned by James and Sheri Clay, has demonstrated consistent growth over the years. Both James and Sheri will continue with Axis Insurance in key leadership roles, bringing their expertise and maintaining their valuable client relationships. Their deep industry knowledge will ensure a smooth integration with Axis, representing a significant milestone in Axis Insurance’s ongoing growth and commitment to delivering value across its expanding portfolio. The JT Insurance team will join Axis under the newly established “Commercial Insurance” Practice Group. Axis Insurance is an award-winning brokerage serving local, national, and international clients with comprehensive risk management and insurance services. The firm’s professionals assess both business and personal risks, delivering tailored advice and solutions to mitigate, reduce, or transfer those risks. With roots dating back to 1928, Axis has grown into one of Canada’s leading brokerages,...