This winter clocked in as Canada’s warmest winter ever, and adjusters are already sounding the alarm that a winter with no or little snow could mean more wildfire claims over the rest of the year. Snowpack in winter is one…
Canada’s solvency regulator has tweaked its climate risk reporting guidelines in response to input from the property and casualty insurance industry. In several ways, OSFI has responded positively to concerns expressed by P&C insurers over how climate change-related risk and…
The cost of insurance for local municipalities continues to rise. Springwater Township received its annual insurance renewal notice last Friday at a cost of $625,709.52. That’s almost $42,000 more than last year, or slightly more than seven per cent. According…
British Columbia needs a drenching of rain to alleviate the tinder dry conditions that have forecasters worried about the potential for another difficult wildfire season. Cliff Chapman, director of operations for the BC Wildfire Service, said parts of the province…
Maritimers were digging out for days after historic levels of snowfall dropped atop Nova Scotia and P.E.I. in early February. The multi-day storm produced nearly 5 feet of snow in Cape Breton, N.S. Then about two weeks later, Nova Scotians…
Geopolitical conflict is wreaking havoc on your business clients’ supply chains, a new Marsh report finds. It’s required businesses to find better ways to mitigate or transfer specific risks before they develop into something of concern, according to Marsh…
An insurer that has already paid a claim doesn’t have to do a follow-up appraisal after the limitation period has expired, Ontario’s Superior Court of Justice has ruled. “An admission of liability to pay on the part of an insurer…
Ontario’s insurance regulator is conducting a review of home insurance claims handling to help the industry identify the greatest risks for consumer harm. Initially announced in June 2023, the Home Insurance Thematic Review is on its way to being published,…
An RCMP investigation has revealed a possible privacy breach for thousands of employees who worked or work at a health authority in British Columbia’s Interior. Interior Health says police contacted them in January about finding a document during its investigation…
Mounties say they believe an attack on Edmonton City Hall in January was politically motivated, meaning it reaches the legal threshold for terrorism charges. Supt. Glenn Sells of the RCMP’s national security team said Tuesday that officers had seized an…
Potential risks stemming from P&C insurers’ managing general agent (MGA) outsourcing practices have caught the eye of Ontario’s insurance regulator, and it’s looking for feedback from stakeholders on a supervision plan. Insurers and MGAs alike have begun to weigh…
Measures to help mitigate climate change are a known commodity, it’s just a matter of motivating the public, government and regulators to take action, speakers suggested Monday at an industry event. Climate change is irreversible, but its rate can be…