Canadian Underwriter

Topic Alberta

News AlbertaB.C.BrokersCommercialEnvironmental

How much property coverage capacity Canada’s oil sands has lost

June 15, 2021 by Greg Meckbach

The withdrawal of “hundreds of millions” of capacity for property risks related to Canada’s oil sands is creating a new challenge for brokers trying to place insurance for oil and gas clients, a broker executive reports. Some insurers have taken

News AlbertaB.C.BrokersCommercialInsurersMGAsOperationsTechnology

How to sell insurance to a solo entrepreneur in under a week

June 14, 2021 by Greg Meckbach

A major pain point for gig-economy entrepreneurs is the traditional process of getting commercial coverage, a Vancouver insurtech CEO suggests. “It is tough being a solo entrepreneur, especially now,” said Jeff McCann, CEO Apollo Insurance Solutions Ltd.  “These people are

News AlbertaCatastrophesClaimsEmerging RisksInsurersPersonal AutoPersonal Home

Look back, but not too far: Why some perils need a new approach 

June 14, 2021 by Jason Contant

The insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently.   “When we’re looking at recent events, including the 2020

News AlbertaCommercialEnvironmentalLiability

Auditor scolds Alberta over mine cleanup fund, how province handles polluted sites

June 11, 2021 by Bob Weber - THE CANADIAN PRESS

EDMONTON – Alberta’s auditor general is criticizing the government for failing to fix problems pointed out six years ago in a program that’s supposed to guarantee coal and oilsands mines clean up after themselves. Doug Wylie says there’s so much

News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickNova ScotiaOntarioOperationsPersonal AutoPersonal Home

M&A growth sets Navacord on course for $3 billion in premium

June 10, 2021 by Jason Contant

Navacord Corp. has finalized a record number of brokerage acquisitions in one month, with four deals already closed across the country in June. The latest transactions represent a total of 18 new locations and over 430 employees. More deals are

News AlbertaLiability

Exploding device at gender reveal party leads to wildfire in northern Alberta

June 10, 2021 by The Canadian Press

FORT MCMURRAY, Alta. – A $600 fine has been issued after a gender reveal party led to a wildfire in Alberta. Travis Fairweather, a wildfire information officer, says the party was taking place about 10 kilometres west of Fort McMurray

News AlbertaBrokersCommercialCommercial AutoNova ScotiaOntario

Hub makes back-to-back acquisitions of Canadian brokerages

June 4, 2021 by Jason Contant

Hub International has made its second brokerage acquisition in two days with the purchase of a family-owned firm in Nova Scotia. Hub announced on Friday that it had acquired Sackville, N.S.-based Salvatore Insurance Brokers Ltd., which provides commercial insurance to

News AlbertaBrokersTechnology

Three things brokers and tech giants have in common

May 31, 2021 by Greg Meckbach

Just as Amazon does not make the products that it sells, brokerages don’t write coverage. But what you do have in common with Amazon is you provide consumer choice among the products you distribute, an Alberta insurtech CEO suggests. “When

News AlbertaEnvironmentalLiability

Abandoned oil and gas wells will be cleaned up despite backlog: Alberta regulator

May 31, 2021 by Bob Weber - THE CANADIAN PRESS

EDMONTON – There’s lots of life in Alberta’s conventional oil industry and plenty of resources and political will to clean up the mess it leaves behind, says the head of the province’s energy regulator. “Will there be halcyon-days growth in

News AlbertaEmerging RisksEnvironmentalLiability

Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers

May 20, 2021 by The Canadian Press

CALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of

News AlbertaB.C.CatastrophesClaimsEmerging RisksLoss Trends

Why wildfire is moving into ‘peak peril’ range

May 14, 2021 by Jason Contant

Wildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting

News AlbertaBrokersInsurersLegalLicensingMergers and Aqcuisitions

Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA

May 14, 2021 by David Gambrill

Alberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer