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News BrokersCatastrophesClaimsClimate ChangeInsurance

Here’s how much western Canada’s summer storms cost the industry

September 20, 2022 by Alyssa DiSabatino

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.

Fighting a wildfire in B.C.
News ClaimsInsuranceMarkets / Coverages

B.C.’s largest wildfire remains out of control

September 19, 2022 The Canadian Press

HUDSON’S HOPE, B.C. – An evacuation order for British Columbia’s largest wildfire has been rescinded, though the BC Wildfire Service says the blaze remains out of control.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

Big hand giving a drowning business person a life preserver
News BrokersClaimsCommercial LinesInsuranceMarkets / CoveragesRisk

It’s not always wise to base coverage solely on clients’ balance sheets

September 16, 2022 David Gambrill

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

A man sits at a desk with a laptop and stack of papers while a line forms behid the first person he's serving
News BrokersClaimsCommercial LinesInsurance

Industry hasn’t done a great job of service: broker execs

September 16, 2022 by Alyssa DiSabatino

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 National Park with forest fires
News ClaimsInsurance

Power restored to Jasper, Alta., after national park wildfire caused outage days ago

September 15, 2022 The Canadian Press

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

Close up of a traffic light on yellow
News AdjustersCatastrophesClaimsInsuranceLegal

Who’s at fault in caution light crashes?

September 12, 2022 by David Gambrill

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

Wildfire smoke causing poor air quality in Vancouver
News ClaimsInsurance

Wildfire smoke continues to blanket parts of B.C., improves slightly over Vancouver

September 12, 2022 The Canadian Press

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

Is Canada going into recession?
News BrokersCatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsuranceRisk

Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 David Gambrill

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

Industrial ship and tugboat
News ClaimsCommercial LinesInsuranceLegal

Promise to insure trumps cross-indemnification, court rules

September 8, 2022 by David Gambrill

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

aerial view of fishing boat in the sea
News ClaimsCommercial LinesInsuranceLegal

Commercial insurer, brokerage granted right to a jury trial in marine claim

September 7, 2022 by David Gambrill

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.,

School crossing sign in front of an empty road
News BrokersClaimsInsuranceRisk

Insurer urges lessons for driving in school safety zones

September 7, 2022 by Alyssa DiSabatino

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

Close up of a firefighter holding and spraying firefighting foam out of an extinguisher
News ClaimsClimate ChangeInsuranceLegislation / Regulation

How insurers can trim their environmental remediation costs

September 6, 2022 by Alyssa DiSabatino

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