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How the industry’s talent war shapes insurance education

September 21, 2023 by David Gambrill

Property and casualty insurance education is adapting to meet the needs of the industry’s desire for ‘plug-and-play’ talent that can hit the ground running, one panelist told a Live with CU presentation last week. More specifically, educational bodies are entering…

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Four young B.C. firefighters heading home die in head-on crash on highway 

September 21, 2023 by Brenna Owen - THE CANADIAN PRESS

Four young men travelling home after helping in the battle against wildfires in central British Columbia are dead after a fiery head-on crash, police and provincial officials said Wednesday.   RCMP Cpl. James Grandy said emergency crews responded around 2 a.m.…

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Where 2023 Cat losses stand after summer storms

September 20, 2023 by David Gambrill

Summer storms in Alberta and the Prairies caused more than $300 million in insured losses, bringing the cumulative total of Cat losses to date in Canada to more than $2 billion — with another financial quarter to go in 2023.…

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How ransomware claims are trending

September 20, 2023 by Jason Contant

Ransomware claims have transformed from mostly third-party liability claims into first-party liability, a cyber insurance expert tells Canadian Underwriter.  “It used to be third-party liability; you were concerned about monitoring credit, and somebody sues you because of a hack,” said…

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B.C. to introduce new disaster management laws to address preparedness, mitigation

September 20, 2023 by The Canadian Press

VANCOUVER – British Columbia’s emergency management minister said the province will be ready to introduce “in the coming weeks” new laws to govern responses to increasingly frequent natural disasters such as wildfires and flooding.   Bowinn Ma told a gathering at…

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What’s driving challenges in commercial property?

September 19, 2023 by Jason Contant

Challenges in the Canadian commercial property insurance market continue to be a focal point throughout 2023, primarily driven by NatCat concerns and reinsurance costs, Aon said in its Fall 2023 Insurance Market Update Canada report. “The property market continues to…

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Forever chemicals: Is PFAS litigation coming to Canada?

September 19, 2023 by Alyssa DiSabatino

Per- and polyfluoroalkyl substances (PFAS) are the subject of a rising number of lawsuits in the U.S., and the industry can expect litigation to seep into Canada, says a risk professional.   Also known as ‘forever chemicals,’ PFAS are a…

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Court draws distinction between a brokerage and a consultant

September 19, 2023 by David Gambrill

Citing the lack of a non-compete agreement, as well as the difference between insurance consulting services and those of a traditional insurance brokerage, the Ontario Superior Court declined to order an injunction that would stop two First Nations land claims…

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New Brunswick premier vows comprehensive review after massive Port Saint John fire

September 19, 2023 by The Canadian Press

SAINT JOHN, N.B. – A joint task force investigation into last week’s major fire at a scrapyard in Saint John, N.B., will consider whether the recycling plant should continue operating at the city’s port, says Premier Blaine Higgs. Higgs made…

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Will Hurricane Lee cost as much as Fiona?

September 18, 2023 by Alyssa DiSabatino

Damage stemming from Hurricane Lee won’t be as major as last September’s Hurricane Fiona, insurance experts tell Canadian Underwriter.   “At more than $800 million in insured damage, Hurricane Fiona goes down as the costliest natural hazard-related insured loss event…

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400+ wildfires continue to burn across B.C. as new evacuation orders issued

September 18, 2023 by The Canadian Press

WILLIAMS LAKE, B.C. – An evacuation order has been issued by Cariboo Regional District for 28 properties in the Horn Lake Area in central British Columbia. This comes as the BC Wildfire Service says fire behaviour on the nearby Hell…

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Climate change not the leading cause of NatCat losses: Verisk

September 15, 2023 by David Gambrill

Although climate change is frequently cited as the Number 1 reason for higher natural catastrophes (NatCat) losses, increases in property exposure and repair costs are more significant short-term factors, according to a new report by Verisk Analytics. “Climate change is…