FS Insurance Brokers (FSIB), a B.C. insurance broker that has common ownership with a strata property management company, has won a limited injunction against a new rule proposed by the province’s broker regulator, pending judicial review of the new rule.…
Back in July 2004, I wrote an article for Canadian Underwriter called ‘Our own worst enemy,’ about the mechanics of the insurance cycle. The piece explained “cyclical rate peaks and valleys in (re)insurance [i.e., primary insurance and reinsurance] markets almost…
The BC Wildfire Service says an “aggressive” fire that exploded in size over the weekend has cut off a highway on the central coast, while more than a dozen new blazes have been sparked since Sunday. The service says Highway…
Canadian P&C brokerage merger and acquisition activity continues to burn red-hot in the second half of 2023, with large brokerages BrokerLink and Acera Insurance announcing a combined three deals recently. BrokerLink acquired Ontario-based Donnell Insurance Brokers Ltd. and New Brunswick-based…
Canada’s hospitality sector was particularly hard-hit by the COVID-19 pandemic, with government-mandated shutdowns and restrictions grinding the industry to a halt. Now, as restaurants return to pre-pandemic foot traffic and revenue levels, the need for insurance solutions and capacity is…
Intact Financial Corporation saw an estimated $335 million in catastrophe losses in Canada for the second quarter of 2023, the insurer revealed in a release. Comparatively, the company handled over a million claims and paid out over $10 billion globally in…
With heavy rains triggering flooding and landslides in parts of Quebec, some clients may understandably have questions about which perils are covered under their insurance policies. Certain types of water damage are typically covered, while coverage for overland flooding or…
Canada’s P&C insurance industry is showing signs of market softening despite the many reasons for a hard market to persist, according to a June 2023 Marketplace Insights report from Lloyd Sadd, a Navacord brokerage. The report cites many reasons industry…
CHARLOTTETOWN – Prince Edward Island says the personal information belonging to thousands of people may have been part of a privacy breach caused by human error. It says the information of 5,600 clients enrolled in a provincial employment program was…
When a company has been cyber breached, they are obligated to tell their clients their data’s been leaked. But personal consumers may be more likely to bury their shame and eat the cost of the cyber scam—even to their detriment,…
Ontario’s Licence Appeal Tribunal (LAT) has ruled in favour of Co-operators in an accident benefits case after finding a driver’s use and operation of his vehicle did not directly cause his injuries and thus did not meet the definition of…
A powerful Canada Day tornado that swept through a section of rural Alberta likely won’t result in much insured damage despite strong winds that reached an estimated 275 km/h. The EF4 tornado tore through an area south of Didsbury, Alta.…