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Much money and a motorcycle. News BrokersClaimsInsuranceLegalLegislation / Regulation

Innocent victim of insurance fraud? Why a tribunal found otherwise….

March 25, 2024 by David Gambrill

An injured motorcyclist claiming he was the innocent victim of fraud had the wherewithal to know he was not carrying valid insurance, thus disqualifying him from receiving accident benefits, the Ontario Licence Appeal Tribunal (LAT) ruled Thursday. The tribunal said…

Technicians setting up a quantum computer News InsuranceTechnology

Could quantum computing destabilize Canada’s P&C sector?

March 22, 2024 by Jason Contant

Quantum computing holds promise for dozens of industries, including property and casualty (P&C) insurance. But there are also downsides to the technology. For one, quantum computers are not yet that stable and must operate in extremely controlled environments. It’s not…

News BrokersCatastrophesClimate ChangeCommercial LinesInsuranceRisk

B.C.’s plan for flood mapping and building back better

March 22, 2024 by Alyssa DiSabatino

A new report by the Government of British Columbia details its commitment to developing a provincially coordinated floodplain mapping program, and sheds light on how and where it intends to rebuild communities after a flood.   More specifically, the report, From…

Business process and streamlining strategy text on wooden blocks. Business culture and Operational excellence concept. News AnnouncementsAppointmentsEmploymentInsuranceProfessional DevelopmentTechnology

Regulator streamlines organizational structure

March 22, 2024 by Jason Contant

Quebec’s financial services regulator has announced strategic adjustments aimed at streamlining its organizational structure. “The main adjustments put forward will allow the organization to focus on its clientele and the quality of services provided to them,” the Autorité des marchés…

The Standing Committee on Environment and Sustainable Development in Ottawa on March 21. News ClaimsClaims CanadaInsuranceMarkets / Coverages

Time to protect Canadians from ‘forever chemicals,’ experts say

March 22, 2024 by Mia Rabson – The Canadian Press

OTTAWA – Nearly a year after Health Canada issued a draft recommendation to designate an entire class of chemicals as toxic, environmental experts say it’s time to actually do something about it. There are now more than 10,000 variations of…

Wildfire near Banff National Park in Alberta News CatastrophesClaimsClaims CanadaInsuranceRisk

Alberta town outlines plan ahead of fire season

March 21, 2024 by John Watson, Local Journalism Initiative Reporter, Strathmore Times – The Canadian Press

The Town of Strathmore recently finalized its hazard reduction burn plan, which aims to reduce the risk of grass and wildfires in the local region. According to the town, the plan aims to assess grassland fuels on the landscape within…

Aerial view of flooded homes following record rainfall News CatastrophesClaimsClaims CanadaClimate ChangeInsuranceMarkets / CoveragesRisk

Three necessities for Canada’s national flood insurance program

March 21, 2024 by Jason Contant

Canada’s upcoming national flood insurance program needs to specify exclusions, phase in risk-based premiums, and provide incentives for flood resilience measures, the Canadian Climate Institute (CCI) says in a recent blog.  A low-cost flood insurance program should drive safer decisions…

A heavy snowfall sweeps through the province of British Columbia News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeInsuranceRisk

How Canada’s winter weather predicts 2024 Cat claims

March 21, 2024 by Alyssa DiSabatino

This winter clocked in as Canada’s warmest winter ever, and adjusters are already sounding the alarm that a winter with no or little snow could mean more wildfire claims over the rest of the year. Snowpack in winter is one…

Deanna Brewer, senior vice president, account manager, NFP in Canada News AppointmentsBrokersConstruction

NFP names industry vet to its Canadian surety group

March 21, 2024 by David Gambrill

Deanna Brewer is NFP’s new senior vice president and account manager for surety in Canada. A P&C insurance industry vet with more than 25 years of experience in the surety business, Brewer was appointed for her technical knowledge and strategic…

Net zero and carbon neutral concept, reducing CO2 emissions for the environment, global warming, sustainable development and green business from renewable energy. News CatastrophesClimate ChangeRisk

OSFI responds to industry’s concerns re: climate risk reporting

March 20, 2024 by David Gambrill

Canada’s solvency regulator has tweaked its climate risk reporting guidelines in response to input from the property and casualty insurance industry. In several ways, OSFI has responded positively to concerns expressed by P&C insurers over how climate change-related risk and…

Car insurance and warranty product News InsuranceMarkets / CoveragesProductsTechnology

Partnership combines auto insurance, used car warranty products

March 20, 2024 by Jason Contant

Online insurance comparison platform HelloSafe has announced a strategic partnership with GuardTree Inc., which calls itself Canada’s first monthly subscription-based used car warranty product. The partnership allows Ontario drivers to compare a wide range of auto insurance guarantee options through…

Aerial view near Barrie, Ontario News ClaimsClaims CanadaCommercial LinesInsuranceMarkets / CoveragesRisk

Rising insurance premiums create challenges for local municipalities

March 20, 2024 by Wayne Doyle, Local Journalism Initiative Reporter, BarrieToday.com – The Canadian Press

The cost of insurance for local municipalities continues to rise. Springwater Township received its annual insurance renewal notice last Friday at a cost of $625,709.52. That’s almost $42,000 more than last year, or slightly more than seven per cent. According…