Even as B.C. wildfires continue to burn, investigations begin and claims start rolling in.
Municipalities respond to series of tornadoes with new rules governing building construction.
The industry made a record profit in homeowners’ insurance and overall premiums are up, but 20 Canadian insurers are losing money while dozens recently lost market share, an economist with Property and Casualty Insurance Compensation Corporation observes. “The healthy insurance…
Liability insurer Northbridge does not have to cover a Prince George, British Columbia daycare owner accused of shaking a child severely enough to cause brain injury, a judge ruled last week. A lawsuit, against the person operating the daycare, was…
The Insurance Bureau of Canada’s Investigative Services division is being transferred to a new organization, Équité Association, effective Oct. 1. That transfer has been approved by IBC’s board, IBC announced Monday. Équité Association integrates IBC’s investigative services division with the…
An interior British Columbia wildfire this past August, which forced the evacuation of more than 1,000 properties, will cost the industry an estimated $77 million, the Insurance Bureau of Canada said Thursday. The White Rock Lake fire began on Aug.…
A recent Court of Appeal for Ontario ruling, in favour of commercial property insurer FM Global, could be good news for insurers facing pandemic business interruption claims but the decision may also be reviewed by the Supreme Court of Canada,…
Canada’s new government needs to focus on climate adaptation, says the industry’s association of property and casualty insurers. “After an unprecedented year of heat and wildfires across much of Canada, climate adaptation must receive more attention in the coming months…
The Canadian industry’s combined ratio, at 81% so far in 2021, is at a historic low but this is mainly due to a 23% drop in claims and adjustment expenses, from $20.26 billion in the first six months of 2020,…
Canadian auto insurers saw both an increase in auto premiums and an improvement in their loss ratios in 2020, according to research from A.M. Best Company Inc. “Less miles driven translates into less frequency in auto losses,” A.M. Best director…
TORONTO, ON, SEPTEMBER 17, 2021/insPRESS/ – 30 Forensic Engineering, Canada’s leading multidisciplinary forensic firm, is pleased to announce the appointment of Daniel Balagot B.A.Sc., P.Eng. as Associate, within the Materials & Product Failure / Piping & HVAC group.x Daniel holds a Chemical Engineering…
Despite a significant industry-wide drop, over three years, in home insurance loss ratios, the CEO of Canada’s biggest carrier is predicting rate increases. “In home insurance, our perspective is that we will see a mid- to upper-single-digit rate increase environment,”…