News & Insights
Featured updates and published expertise.
Whitepaper
Supply Chain Attack, Concerns, and Remediation
February 25, 2021

The compromise of the SolarWinds Orion Network Configuration Manager Update (referred to as Orion onward) has been in the news since its discovery in December 2020. The impact of this cyberattack on a software supply chain (attacking a vendor’s software update build) is quite extensive and poses a significant risk for the downstream customers. The sophistication of the attack and the organizations that were ultimately targeted is astonishing and terrifying. However, this is only the tip of the iceberg. How deeply an organization has been compromised or what intellectual property was exfiltrated is yet to be fully determined.

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News Release
February 9, 2021

Highlights

  • Net operating income per share of $3.18 in Q4-2020 and OROE of 18.4%, driven by strong underwriting performance and distribution results
  • Premiums grew 8% in the quarter and 9% for the full year with solid growth in all lines and The Guarantee Company of North America ("The Guarantee") acquisition
  • Combined ratio of 85.6% in Q4-2020 included $74 million of CAT losses, with $23 million related to the COVID-19 crisis
  • Our COVID-19 related relief has helped more than 1.2 million customers, with $530 million of support provided in 2020
  • Full year EPS of $7.20 and BVPS up 9% in 2020 to $58.79
  • RSA acquisition is progressing well and on track for Q2-2021 closing
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In the News
February 8, 2021

James Bynoe, Chief Claims Counsel at Intact Insurance Specilaty Solutions, was quoted in the February issue of Claims and Litigation Management (CLM) Alliance Magazine on the importance of diversity and inclusion, and how he strives to end systemic racism in the insurance industry.

Read more on page 42 and page 17.

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News Release
February 1, 2021

TORONTO, Feb. 1, 2021 /CNW/ - Intact Financial Corporation (TSX: IFC) today announced the appointment of Carolyn A. Wilkins to its Board of Directors.

Ms. Wilkins had a distinguished twenty-year career at the Bank of Canada, serving as Senior Deputy Governor for the last six and a half years, overseeing strategic planning and economic and financial research. She was a member of the Bank's Governing Council and served as a member of the Bank's Board of Directors.

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Whitepaper
January 7, 2021

The owner of a consumer electronics company locks the doors and arms the burglar alarm system and the end of a workday. Later that night, she receives a call from the police informing her that thieves have driven a truck straight through a loading dock door, filled the truck with the most popular video gaming system products and left the scene before they could respond.

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News Release
January 5, 2021

PLYMOUTH, Minn. January 5, 2021 /CNW/ - Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (TSX: IFC) U.S. insurance company subsidiaries, announced that Melissa Goto has been appointed to lead its Technology business across North America, reporting to Senior Vice President Jeff Richardson. Goto succeeds Mary Fisk-Bieker, who was recently named as the company’s Head of Enterprise Underwriting.

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In the News
December 22, 2020

Insurance Journal recently released a Charity Issue highlighting some of the many charitable tales in insurance.

In light of the pandemic, many companies and individuals of the industry embraced different volunteering initiatives that were featured in the magazine. Intact Insurance Specialty Solutions also shared its story on how it supported the community this year.

Read more on page 33.

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News Release
New program manager provides end-to-end cyberrisk management services
November 11, 2020

 

PLYMOUTH, Minn., Nov. 11, 2020 /PRNewswire/ -- Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation's (TSX: IFC) U.S. insurance company subsidiaries, announced today its new cyber insurance solutions delivered in partnership with program manager Resilience Insurance. By innovatively blending Resilience's cyber analytics technology with Intact's risk transfer capabilities, the companies are enhancing the breadth of risk mitigation available to the cyber insurance market. 

 

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News Release
Intact Insurance MGA announces executive leadership appointment
November 9, 2020

Plymouth, Minn. November 9, 2020 -- James Reiss has been appointed President of International Bond & Marine Brokerage, Ltd. ("IB&M"), a market-leading brokerage providing risk management solutions to the international trade industry, which was recently acquired by Intact Insurance Specialty Solutions, a brand of Intact Financial Corporation (TSX: IFC). Reiss will now report to Peter Weightman, Senior Vice President and Chief Underwriting Officer, Specialty Solutions, North America.

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News Release
November 3, 2020

Highlights

  • Net operating income per share up 46% to $2.78, driven by solid underwriting performance across all lines, driven in part by benign weather, and strong distribution results
  • Healthy premium growth of 8% driven by strong retention and new business and including The Guarantee Company of North America ("The Guarantee") acquisition
  • Relief efforts helped more than 1.2 million customers, with $510 million provided year-to-date, including the recently launched $50 million targeted relief program for our most vulnerable small business customers
  • OROE of 16.9% and BVPS up 4% in the quarter to $56.22
  • Strong capital position with $1.9 billion of total capital margin available to manage potential further shocks and capture strategic opportunities
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