Topic
Markets / Coverages
What insurers pay to repair EVs
September 11, 2023 by David GambrillAlthough electric vehicles in Canada cost an average of $1,328 more to repair than vehicles with internal combustion engines (ICE), EVs are less likely to be written off as a total loss, says a Mitchell report. The cost of the…
Which clients are cyber underwriters favouring?
September 11, 2023 David GambrillRecent loss ratio data suggests the hard market in cyber insurance has plateaued. In part, that’s due to underwriters being more discriminating about which risks they select for coverage. “Insurance companies have rightsized their books. They know which clients they…
Brokerage merger to form Top 10 P&C firm
September 11, 2023 by Jason ContantQuebec brokerages Fort Assurances and Gaudreau Assurances have merged to form what the two companies call one of the Top 10 damage insurance firms in the province. The new entity, which will operate under the name Fort Insurance & Group…
B.C. sets up climate emergency task force amid wildfire crisis
September 11, 2023 The Canadian PressVANCOUVER – British Columbia Premier David Eby says he’s launching an expert task force into wildfires, drought and heat emergencies that have hammered the province. Eby, who’s in the B.C. Interior touring wildfire zones, says the province is still focused…
Government won’t commit to buying out homes ravaged by recent N.S. flooding
September 8, 2023 The Canadian PressHALIFAX – Nova Scotia’s housing minister says any request for the province to buy homes damaged in a Halifax suburb in flooding last July would have to come from the municipality. John Lohr says while he’s not prepared to say…
Westland, Hub’s latest P&C acquisitions
September 8, 2023 by Jason ContantWestland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity. Westland Insurance acquired Saskatchewan personal and commercial lines brokerage Insurance Matters Inc., while Hub International acquired Ontario-based cannabis insurance brokerage…
Feds predict parts of Canada could see wildfires through winter
September 7, 2023 The Canadian PressOTTAWA – The latest federal government forecast says Canada’s already unprecedented 2023 wildfire season could continue late into the fall or winter. Energy and Natural Resources Minister Jonathan Wilkinson says there is potential for increased wildland fire activity from eastern…
4 reasons why remote work is here to stay
September 7, 2023 by Jason ContantExecutives expect both hybrid and fully remote work to keep increasing over the next five years, a new survey has found. Many CEOs are publicly gearing up for yet another return-to-office push, but privately they’re expecting hybrid and fully remote…
Weakening economy convinces BoC to hold key rate, but door to more hikes stays open
September 6, 2023 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – The Bank of Canada held its key interest rate steady at five per cent on Wednesday, deciding against another rate hike as the economy begins to falter. “With recent evidence that excess demand in the economy is easing,…
Adjusters provide update on B.C., N.W.T. wildfires
September 6, 2023 by Jason ContantWildfires in British Columbia and Northwest Territories continue to present a mixed bag of claims for P&C adjusters. Claims adjusters are seeing a variety of both residential and commercial losses. “Major loss, total losses and less severe claims as well,”…
Which coverages will lead brokers out of the hard market?
September 5, 2023 David GambrillFor several years, Canadian P&C insurance brokers climbed through a hard market in virtually all commercial specialty lines. Now, industry analysts have told Canadian Underwriter, that climb has plateaued in both the cyber and directors and officers (D&O) lines. “Now…
Why property clients still face a hard market
September 1, 2023 by Alyssa DiSabatinoThe headwinds facing commercial property premiums won’t abate anytime soon for the majority of clients, Gallagher’s Canada 2023 Mid-Year Market Conditions Report suggests. The cost of reinsurance in Canada is still trending upward, triggered by a series of catastrophe…