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Topic Alberta

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Why insurance regulators’ council wants to stop best-terms pricing

December 3, 2021 by Greg Meckbach

If you are still placing subscription policies using best-terms pricing, you should stop, the Canadian Council of Insurance regulators suggests. “Fair and transparent pricing is essential to a successful marketplace and CCIR Members expect insurers and brokers to cease BTP

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Alberta rolls out new rules forcing industry to pay for abandoned well cleanup

December 1, 2021 by The Canadian Press

CALGARY – Alberta’s oil and gas regulator has rolled out new rules aimed at addressing the growing problem of inactive and abandoned wells in the province. The new rules will require the energy industry to spend $422 million next year

B.C. wildfires
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Extreme wildfire weather increasing around the globe, some of the largest increases in Western Canada: research 

November 25, 2021 by Bob Weber - THE CANADIAN PRESS

New research suggests the risk of extreme wildfire events is increasing across the globe, with some of the largest increases in Western Canada.   The research, conducted by Natural Resources Canada and published Thursday in the journal Nature, says rising temperatures and

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BrokerLink acquires brokerages in Alberta, Ontario

November 16, 2021 by Jason Contant

BrokerLink has announced the acquisition of three new brokerages in Canada — one in Alberta and two in Ontario. The Intact Financial Corporation subsidiary said Monday it had acquired Alberta-based Blue Circle Insurance Brokers Ltd., as well as Ontario-based Stevenson

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How much Intact has improved its personal property loss ratio

November 15, 2021 by Greg Meckbach

As home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe

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Damage being tallied from summer drought across Prairies

November 12, 2021 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – The consequences of last summer’s searing drought are being felt on farms and ranches across the Prairies, where some livestock producers are heading into a long, cold winter with dangerously low supplies of feed and water. On his

News AlbertaB.C.BrokersCommercialMergers and Aqcuisitions

NFP acquires Western Canadian brokerage Foster Park

November 9, 2021 by Greg Meckbach

Edmonton-based Foster Park Brokers Inc. has been acquired by New York City-based NFP Corp., the property and casualty insurance brokerages announced Tuesday. Foster Park places surety bonds, as well as P&C coverage for a variety of industries including oil and

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Insurers hope privacy legislation reboot will bring harmony

November 3, 2021 by Philip Porado

Canada’s existing privacy regulations – including federal law and province-specific legislation in Quebec, British Columbia and Alberta – can’t keep up with changing technology and are due for an update, said panellists at an Insurance Bureau of Canada regulatory affairs

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Homeowners loss ratio drops to 49.1% for this Top 10 insurer

November 3, 2021 by Greg Meckbach

Canada’s sixth-largest property and casualty insurer has a loss ratio in home insurance of under 50% so far this year, but large losses in Western Canada had an adverse impact on the quarter ending Sept. 30. The Co-operators General Insurance

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Why the Co-operators won this appeal over homeowner claim

October 29, 2021 by Greg Meckbach

If a client learns something new about insurance law four years after their claim is denied, it’s probably too late to sue the insurer for breach of contract. In a decision released this past Tuesday, the Court of Appeal of

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How auto insurance rates are trending in Alberta, Ontario and Atlantic Canada

October 8, 2021 by Jason Contant

Auto insurance rates plunged in Alberta and Ontario this spring, while rates stayed flat in Atlantic Canada, according to Q2 2021 results from LowestRates.ca’s latest Auto Insurance Price Index Report. In Alberta, rates decreased 11% quarter-over-quarter after a steep incline

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The latest acquisitions from Westland and Hub

October 7, 2021 by Jason Contant

Large brokerages Westland Insurance Group Ltd. and Hub International Limited have both announced recent mergers and acquisitions activity. On Tuesday, Surrey, B.C.-headquartered Westland said it had acquired personal and commercial lines brokerage Insurance Unlimited in Mississauga, Ont. The following day,