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Homeowners loss ratio drops to 49.1% for this Top 10 insurer

November 3, 2021 by Greg Meckbach

Canada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance

News Insurance

Personal auto renewal rates continue downward trend, but homeowners’ rates up: Applied

July 30, 2021 by Jason Contant

Average personal auto premium renewal rates in Canada continued their downward trend in the second quarter of 2021, while personal property (homeowners) renewal rates remained up over the same period, according to Applied Systems’ latest premium rate index. In Q2

News CatastrophesClaimsClaims CanadaClimate ChangeInsurance

Where Canada sits with high-risk flood insurance pool

February 3, 2021 by Greg Meckbach

Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation

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The business line that drove Intact’s profitability in 2020 Q2

July 31, 2020 by Greg Meckbach

If you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in

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This storm preparation tip is a myth

September 12, 2018 by Greg Meckbach

As Newfoundland gets hit by the remnants of Tropical Storm Gordon and Hurricane Florence threatens the Carolinas, brokers can make a difference in advising homeowners what not to do as nasty weather approaches. “In Canada, there are not many hurricane-type

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Insurers subsidize Toronto basement flood pilot

July 10, 2018 by Greg Meckbach

A pilot program aimed at getting homeowners to reduce basement flood risk is getting a subsidy from the Insurance Bureau of Canada and Intact Centre for Climate Adaptation. The Toronto Home Resilience Program, which involves 200 homeowners, aims “help home

Feature LegalMarkets / Coverages

Auto Use

November 1, 2017 Daniel Strigberger Partner; and Andrew Mercer, Associate; Samis + Company

For both auto and non-auto policies, parties sometimes disagree over whether or not property losses or personal injuries are, ultimately, caused by use or operation of a vehicle.

News AssociationsCatastrophesInsurance

Understanding of quake protective measures, insurance coverage faulty in Quebec: survey

October 19, 2017 by Canadian Underwriter

The lion’s share of polled Quebecers remain unprepared for an earthquake, with a mere 8% of respondents understanding the immediate protective measures that should be taken in the event of a quake, Insurance Bureau of Canada (IBC) reports. The concerning

News CatastrophesInsuranceMergers and Aqcuisitions

Insured costs for Cyclones Debbie and Cook in New Zealand upgraded to NZ$109 million from NZ$84 million in June

August 28, 2017 by Canadian Underwriter

The Insurance Council of New Zealand (ICNZ) has upgraded the insured costs associated with Cyclones Debbie and Cook to NZ$109 million from the NZ$84.4 million estimate in June. The two cyclones swept through New Zealand during April (Cyclone Debbie from

News AssociationsInsuranceLegislation / RegulationMergers and Aqcuisitions

Insurers should ensure consumers are ‘better able to understand’ home insurance policies: CCIR

August 9, 2017 by Canadian Underwriter

In a paper released Wednesday, Canada’s insurance regulators’ association suggests that insurers need to better educate consumers so they can understand the terms – including limitations, exclusions and deductibles – of their property insurance contracts, while sharing aggregated property risk

News InsuranceLegalLegislation / RegulationMarkets / CoveragesMergers and Aqcuisitions

17% of secondary rental suites in Ontario, Alberta and B.C. considered illegal: Square One Insurance survey

August 3, 2017 by Canadian Underwriter

Seventeen per cent of rental suites in detached houses in Ontario, Alberta and British Columbia are considered illegal, a new survey from Vancouver-based Square One Insurance Services Inc. has found. The study involved a survey of more than 5,500 homeowners

News CatastrophesConstructionInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insured losses from Tropical Cyclone Debbie reach nearly AU$1 billion: Insurance Council of Australia

June 30, 2017 by Canadian Underwriter

Insured losses from Tropical Cyclone Debbie have reached nearly AU$1 billion as of June 28, the Insurance Council of Australia (ICA) said on Thursday. As of June 28, insurers had received more than 58,000 claims stretching from North Queensland to