Insurable Interest Canadian Insurance Blog

Drivers are increasingly unable to secure coverage due to rate cap, promise of reform appearing to stall: Insurance Brokers Association of Alberta New York, NY (July 31, 2025) – The Insurance Brokers Association of Alberta (IBAA) is raising concerns, as more and more Alberta drivers are unable to secure the coverage they need in the province. With the rate cap now in its third year, auto insurers have increasingly scaled back or terminated coverages, making it difficult for many drivers to secure the insurance they need. This leaves them dangerously underinsured and forced to pay out-of-pocket when an accident occurs. “An insurance broker is a driver’s best resource to secure the best coverage at the best possible price. Unfortunately, as auto insurers reduce available coverages or withdraw from the Alberta market due to the rate cap, brokers are increasingly unable to find coverage options that are both accessible and affordable for many drivers in the province,” said Jhnel Weller-Hannaway, Chief Executive Officer of IBAA. “Though the intention of the rate cap is to ease the cost burden for good drivers, the system isn’t working, and the province must immediately remove this policy so the competitive market can return to health...

The companies are helping clients like Nationwide transform cybersecurity operations, optimize costs and improve business resilience New York, NY (July 31, 2025) – Accenture and Microsoft Corporation are co-investing in the development of advanced generative AI-driven cyber solutions to help organizations mitigate threats and consolidate technology tools while optimizing operational costs. According to Accenture’s State of Cyber Resilience 2025 report, the majority (90%) of organizations are not ready to protect against AI-augmented cyber threats. By combining Accenture’s cybersecurity services, AI transformation expertise and industry experience with Microsoft’s advanced security technologies, the companies are helping organizations protect against advanced threats through innovative cybersecurity offerings across four key areas. These include security operation center (SOC) modernization, automated data and AI security, security-centric cyber migration and consolidation, and enhanced identity and access management (IAM). “Global cyber threats, now leveraging AI, are intensifying in speed, sophistication and scale. By adopting automation and gen AI solutions, organizations can reimagine their SecOps and outpace rising adversarial cyber threats,” said Paolo Dal Cin, global lead, Accenture Security. “The combined power of Accenture and Microsoft will help clients future-proof against potential cyber threats, keep critical data secure and enhance business resilience. This expanded relationship signals to the industry...

More Canadians are adjusting, not abandoning, their retirement and investment strategy when faced with economic uncertainty Toronto, ON (July 29, 2025) – When it comes to saving for retirement Canadians are holding strong. New data shows people are taking a measured response when faced with market volatility. Sun Life’s 2025 Designed for Savings report paints a clear picture of how Canadians are adjusting their investment strategies instead of abandoning their retirement savings. The benchmark report uses data from 1.5 million Sun Life group retirement plan members to identify workplace savings trends in Canada. The report shows the consistency and resiliency of workplace plans and members: Investment reallocation versus withdrawal. In Q1 2025, members moved their money out of U.S. equity funds at the highest rate witnessed since the beginning of the COVID-19 pandemic. While more people are reducing their risk exposure, they are not withdrawing their money from their plans. Withdrawal rates remain stable when compared to past years. Average contributions increasing. Positive trends in member savings behaviours continue with average contributions reaching over $9,500, a 6% increase from 2022. Member education resonating. 70% of plan members who engaged with an advisor were more likely to take action towards their financial future...