Topic
Claims
Intact reports Q3 wildfire claims losses
September 1, 2023 by David GambrillIntact Financial Corporation is projecting $570 million Cdn in pre-tax losses due to wildfires in 2023 Q3, the company announced Thursday. Intact has a national Canadian P&C insurance market share of 18.7% based on $12.6 billion of net premiums written…
What carriers are offering auto customers seeking lower premiums
September 1, 2023 Philip PoradoCar thefts are way up in Canada and that’s got the attention of property and casualty (P&C) insurers. Thefts have risen particularly fast in the greater Toronto area, Montreal and some other parts of Quebec, noted Paul Gilbody, SVP operations…
Fire activity expected to kick up in N.W.T., Mounties warn against re-entering
September 1, 2023 The Canadian PressYELLOWKNIFE – Fire activity along a key Northwest Territories highway is expected to kick up in the coming days, while Mounties say they’ll stop a potentially large group from trying to re-enter when an evacuation order is still in effect.…
Why ransomware is still a threat to your cyber clients
August 31, 2023 by Jason ContantRansomware is “almost certainly the most disruptive form of cybercrime facing Canada” because it’s pervasive and can have a serious impact on an organization’s ability to function, said a new report from the Canadian Centre for Cyber Security. However, it’s…
Wildfire threat in B.C. continues as winds pick up during stormy weather
August 31, 2023 The Canadian PressSeveral major wildfires continue to burn out-of-control in British Columbia’s Interior, where forecasted rain had been hoped to dampen blazes in parts of the Central Okanagan and the Shuswap. But Environment Canada data shows neither Kelowna’s airport nor Salmon Arm…
Adjusters respond to Kelowna fires as burn tally grows
August 30, 2023 by Alyssa DiSabatinoAfter close to 200 buildings burnt around Lake Okanagan, claims adjusters in Kelowna can expect to see claims range from personal and commercial across a swath of coverage types, an adjuster tells Canadian Underwriter. “Kelowna has a diverse geography with…
N.W.T. extends wildfire state of emergency
August 30, 2023 The Canadian PressYELLOWKNIFE – A state of emergency in the Northwest Territories has been extended until Sept. 11. The territorial government declared it on Aug. 15 as wildfires threatened several communities, including the capital, Yellowknife. The move was meant to allow the…
Auto theft’s impact on your clients’ premiums
August 29, 2023 by Alyssa DiSabatinoPremiums for commonly stolen vehicles have increased between 25% and 50% over the last two years, according to data from RatesDotCa. Insurers are bumping up rates after the Canadian P&C insurance industry paid out a record $1 billion for auto…
MPI employees’ job action: What it means for brokers
August 29, 2023 by David GambrillManitoba brokers are reporting no issues thus far servicing their auto insurance clients, as the Manitoba Public Insurance (MPI) workers’ job action enters its second day. “We at IBAM [Insurance Brokers Association of Manitoba] hope for a speedy resolution that’s…
What’s Franklin have in store for Atlantic Canada?
August 29, 2023 Philip PoradoAs Hurricane Franklin starts turning North, Atlantic Canada is watching and waiting to see whether it makes a direct hit, or if the storm will weaken before reaching Canada’s coast, as current maps suggest. Franklin is expected to cross the…
Fall risks associated with e-scooters
August 25, 2023 Brittany Sinclair, B.Sc., P.Eng. 30 Forensic EngineeringEditor’s note: This is the first of a two-part series on the biomechanics of rider falls from e-scooters. Part 2 will appear next week. Canada’s capital is in the midst of its fourth electric scooter (or e-scooter) pilot program.…
Why secondary perils are of primary concern to insurers
August 25, 2023 by David GambrillSo-called “secondary perils” are now of primary concern for insurers, and the P&C industry needs to change its language and focus accordingly, Moody’s RMS says. Secondary perils include insured damage losses caused by natural catastrophes such as wildfires, hail or…