Six summer storms across western Canada in July and August will cost the industry approximately $900 million in insured damages — meaning the industry is almost halfway to last year’s total insured damages of $2 billion from these events alone.…
HUDSON’S HOPE, B.C. – An evacuation order for British Columbia’s largest wildfire has been rescinded, though the BC Wildfire Service says the blaze remains out of control. The Battleship Mountain wildfire in the Prince George Fire Centre is now estimated…
Less than one-quarter of Canadian businesses have trade credit insurance, which protects their receivables against buyer default and bankruptcies, but Intact Insurance predicts that market penetration is likely to change as the pace and size of interest rate hikes could…
The Canadian P&C industry hasn’t done a great job of service, says one industry CEO in an executive panel discussion at RIMS Canada Conference in Halifax. What’s the good news? The industry can meet and maintain service levels through collaborative…
JASPER, ALBERTA – Parks Canada welcomed visitors back to Jasper National Park Wednesday after power was restored to the townsite that was knocked out by a wildfire north of the community earlier this month. “With the restoration of transmission power…
Canada’s dreaded amber light: it’s the source of numerous intersection crashes, resulting in untold insurance claims. If you are dispensing driver safety tips to clients, be sure to tell your insureds to watch out when turning left against yellow caution…
Air quality has improved slightly over Metro Vancouver but remains at very unhealthy levels in several other regions as wildfire smoke blankets large sections of British Columbia. Environment Canada is maintaining air quality statements for areas from the Peace River…
If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those…
In a commercial hull and machinery insurance policy containing cross-indemnities, a promise to insure by one party trumps the indemnity by the other unless the contract clearly states otherwise, B.C.’s Supreme Court has ruled in a case involving two separate…
A B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…
Dangerous driving in school zones is a common occurrence, especially during back-to-school time, according to a survey by the British Columbia Automobile Association (BCAA). Eighty per cent of those surveyed said they’ve witnessed speeding in school zones, while 77% have…
Insurers can trim their environmental remediation costs by shopping around for more than one site estimate, recommends Lori Festarini, environmental director at Charles Taylor. That may involve getting technical support or peer-reviewed cost estimates, she elaborates. “One way of managing…