Topic
Construction
Court sides with Trisura in $475K construction bond case
March 22, 2023 by David GambrillTrisura has successfully defended a $475,000-plus claim against it after a B.C. court found a construction subcontractor couldn’t prove it had a formal contract with the principal contractor named in Trisura’s labour and materials (L&M) payment bond. “I…do not accept…
New earthquake model considers eastern Canada risk
March 9, 2023 by Jason ContantAon plc has launched a new earthquake model for Canada, one that takes into account the well-known risk in western provinces but also the lesser-known risk in eastern Canada. The model is based on the latest scientific research from Natural…
Aviva Canada now offers parametric solution for severe rain
March 8, 2023 by David GambrillAviva Canada now offers parametric excess rain coverage to help clients better cope with climate change, using a white label tech solution by Swiss-based parametric InsurTech company CelsiusPro. “We are pleased to have successfully completed the configuration and launch of…
Westland acquires brokerages in two provinces
February 15, 2023 by Jason ContantWestland Insurance continues its expansion across Canada with acquisition of Quebec-based Niche Assurance Inc. and Saskatchewan-based Heritage Insurance, effective Feb. 1. The latest acquisitions come a month after industry veteran Doug Morrow joined Westland as its new vice president of…
Investigation underway into apparent gas explosion in Ottawa
February 15, 2023 Cindy Tran and Mickey Djuric - THE CANADIAN PRESSOTTAWA – Officials say the investigation is now ongoing after 12 people were injured in an apparent gas explosion that rocked an east Ottawa suburb on Monday morning, including two children and two people who were pulled out of the…
Unexpected construction issues, rising labour costs increase pipeline cost to $14.5 billion
February 1, 2023 Amanda Stephenson - THE CANADIAN PRESSCALGARY – The estimated cost of the Coastal GasLink pipeline has increased by 29 per cent to $14.5 billion, as the company behind the project continues to be dogged by unexpected construction issues and rising labour costs. Calgary-based TC Energy…
How adjusters can benefit from putting consumers in control of their claims
January 19, 2023 Jason ContantWhen severe weather events take place, not everything can be fixed overnight. There are only so many contractors and thousands of homes will likely need repairs ranging from major to minor. “It comes down to triaging and putting the insured…
Can a new college program draw talent to commercial brokerages?
January 18, 2023 Alyssa DiSabatinoThe specialized nature of commercial brokering is causing a talent shortage now that veterans are retiring in droves. “I literally get three or four different companies a week that ask for talent, and it’s amplified across the industry,” said John…
What’s driving reinsurer underwriting margins in 2023?
January 16, 2023 Philip PoradoUnderwriting margins for reinsurers will likely grow by an average four percentage points during 2023, said a new report from Fitch Ratings. Key factors for the increases are significant price rises, tighter terms and conditions, as well as the withdrawal…
How an Alberta election may impact decisions on captive insurance
January 12, 2023 Philip PoradoCompanies looking at the benefits of setting up an Alberta captive insurance company appear to be taking a ‘wait-and-see approach’ with respect to tax treatment. At the moment, the province’s tax authorities have indicated captives will be treated the same…
Can the P&C industry navigate these 3 problems in 2023?
January 9, 2023 David GambrillThanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…
Oil and gas drilling sector expects activity to pick up in 2023
November 25, 2022 Amanda Stephenson - THE CANADIAN PRESSCALGARY – The organization representing Canada’s oil and gas drilling sector says it expects more activity in 2023, even as it continues to push the federal government for a new tax credit it says it needs to help the energy…