INSURANCE INDUSTRY NEWS

Data Security Under Threat While Breach Costs Surge: IBM
Data breaches in Canada are becoming more costly and complex, according to the latest IBM Cost of a Data Breach Report, which reveals AI adoption is greatly outpacing AI security and governance. Read more.

Accenture and Microsoft Expand Collaboration on Gen-AI Powered Cyber Solutions
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. Read more.

QuickFacts Enhances Broker Efficiency, Client Service At Westland Insurance
QuickFacts, an InsurTech software provider for insurance brokerages, is pleased to announce a partnership with Westland Insurance, one of Canada's largest and fastest-growing insurance brokers, to leverage the QuickFacts Comparisons platform in order to give brokers tools that simplify comparing carrier information, support consistent onboarding, and improve client service. Read more.

National Auto Theft Decline Signals Progress, Continued Vigilance Crucial
équité Association, the national authority on insurance crime and fraud prevention, has released its First Half of 2025 Auto Theft Trend Report, revealing a 19.1% national decrease in the theft of private passenger vehicles compared to the same period in 2024. Read more.

Insured Losses From Jasper Wildfire Rise Higher
Insured losses from the Jasper wildfire are now estimated to be close to $1.3 billion, according to new data released by CatIQ. The July 2024 wildfire destroyed 358 homes and businesses in the town of Jasper. Today, only 56 are approved for reconstruction, and only two buildings are currently being rebuilt. Read more.

CBN Welcomes Two New Members
Canadian Broker Network, Canada's leading network of independent insurance brokers, is pleased to welcome two new members to the CBN community: Quebec-based LMBF Insurance and Ontario-based PAIB Insurance Inc. Read more.

GUS Expands In The Greater Toronto Area
GUS, the largest network of property restoration professionals in Canada, is proud to welcome TriMatrix to its group of property restoration professionals. Based in Vaughan, TriMatrix is an experienced and award-winning emergency restoration firm known for its fast response, expert teams, and deep-rooted commitment to helping people recover during time of crisis. Read more.

Canadians Stay The Course On Retirement Savings
New data shows that when it comes to saving for retirement, Canadians are taking a measured response to market volatility. Sun Life's 2025 Designed for Savings report, which draws on data from more than one million Sun Life group retirement plan members, paints a clear picture of how Canadians are adjusting their investment strategies instead of abandoning their retirement savings. Read more.

Brokers Association Raises Concern Over Alberta Auto Insurance Market
The Insurance Brokers Association of Alberta is raising concerns, as more and more Alberta drivers are unable to secure the coverage they need in the province. Read more.

First Onsite Doubles Public Support For Animal Disaster Relief Charity
First Onsite Property Restoration, Canada's leader in disaster restoration, is pleased to announce a matching donation initiative to support rescued animals and recovery efforts at Happy Days Sanctuary in recognition of Pet Fire Safety Day. Read more.

Combined Insurance Expands Benefits Offering With Pet Insurance From Healthy Paws
Combined Insurance Company of America has announced the addition of pet insurance from Healthy Paws to its portfolio of supplemental insurance coverage for employers and individuals. Read more.

Featured job opportunities:

Chief Executive Officer
RTOERO / Entente Education Canada
Toronto, ON

Financial Security Advisor, Insurance
RBC Insurance
Montreal, QC

In the InsurTech Spotlight this week:

Plasmatic Technologies
Plasmatic Technologies extracts value from streaming Smart Home data by leveraging the growing adoption of Connected Home devices in the presence of insurance industry needs for homeowner data insights and stronger customer engagement.
Learn more.

Calling all InsurTechs! Click here to participate.

From Doug Insurance companies across Canada are demonstrating leadership in wildfire prevention and resilience-building: Many insurers (including Intact, Co-operators, and Aviva) support the FireSmart Canada program, which helps communities reduce wildfire risk and increase resilience through fuel management, education, and planning. Technology aids risk assessment and preventive measures, with companies such as Desjardins and Intact using geospatial and AI risk mapping tools to assess wildfire exposure at the property level. Aerial imaging: Some insurers are using aerial imagery or satellite data to evaluate vegetation density, proximity to forest edges, and defensible space compliance. Some insurers promote mitigation measures with incentives, offering premium reductions or special endorsements. Co-operators Community Funds have invested in first responder capacity and community infrastructure, supporting fire departments in rural areas with equipment and training. The Intact Centre on Climate Adaptation researches wildfire resilience in the wildland-urban interface, to guide municipalities and homeowners. On the advocacy front, public policy engagement is bringing about stronger land-use planning and fire-resilient building codes. Increased investment in fire prevention infrastructure and emergency response help to reduce future claims and costs. Through IBC, insurers work with provincial governments to co-fund evacuation planning, risk modelling, and recovery frameworks. Many insurers distribute wildfire risk reports, checklists and tips to customers. Co-operators and Desjardins host community workshops on FireSmart retrofitting and emergency preparedness. Doug Grant, CIP Partner Insurance-Canada.ca