Topic Alberta
Behind the industry’s ‘modest decline’ in auto premiums
October 17, 2023 by Jason ContantCanada saw an overall “modest decline” of 3.5% in personal auto insurance premiums last year, AM Best reported during an industry event in Toronto earlier this month. Lower profit margins in Canadian auto insurance are likely to remain under pressure…
BrokerLink completes largest Alberta acquisition to date
October 12, 2023 by Jason ContantBrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s…
What’s contributing to rising auto premiums in Alberta?
September 26, 2023 by Jason ContantLitigation costs stand out as a major contributor to premiums drivers pay in Alberta, according to a new report from accounting firm MNP. Legal costs in Alberta’s auto insurance system have risen 31% since 2018 and account for roughly 20%…
Where 2023 Cat losses stand after summer storms
September 20, 2023 by David GambrillSummer 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.…
Twin polls suggest slim majority of Albertans support oil and gas emissions cap
September 14, 2023 by Bob Weber - THE CANADIAN PRESSEDMONTON – Most Albertans would support some kind of national cap on carbon emissions from the oil and gas sector, two new polls suggest. The polls, conducted by different polling firms at the same time with the same questions, come…
Feds predict parts of Canada could see wildfires through winter
September 7, 2023 by The Canadian PressOTTAWA – The latest federal government forecast says Canada’s already unprecedented 2023 wildfire season could continue late into the fall or winter. Energy and Natural Resources Minister Jonathan Wilkinson says there is potential for increased wildland fire activity from eastern…
Auto theft’s impact on your clients’ premiums
August 29, 2023 by Alyssa DiSabatinoPremiums for commonly stolen vehicles have increased between 25% and 50% over the last two years, according to data from RatesDotCa. Insurers are bumping up rates after the Canadian P&C insurance industry paid out a record $1 billion for auto…
Rollover communication error lands BrokerLink in hot water
August 28, 2023 by David GambrillBrokerLink in Alberta got some unwanted regulatory attention after failing to inform a client about a rollover agreement the brokerage had made with a new insurer on behalf of a farm insurance client. As is common in P&C insurance, when…
Aviva Canada’s first-half experience in personal lines
August 16, 2023 by David GambrillAviva Canada’s 2023 half-year results in personal lines are a mixed bag, with strong results on the personal property side, but the insurer is taking initiative to shore up its personal auto results. Overall, the company reported half-year growth of…
Wildfires close evacuation routes out of N.W.T. towns, some being transported by air
August 14, 2023 by The Canadian PressFORT SMITH, N.W.T. – Residents of a second town near the Alberta-Northwest Territories boundary were ordered to evacuate to safety Sunday evening due to encroaching wildfires, with a new fire meaning the only route out for one of the communities…
A busy summer for M&A at two of Canada’s largest brokerages
August 9, 2023 by Alyssa DiSabatinoSummertime M&A has not been slowing down for BrokerLink and Westland Insurance who have respectively completed three and two more deals in August. For BrokerLink, the three latest deals account for a total of twelve in 2023 thus far, focused…
The P&C benefits firm buying frenzy continues
July 31, 2023 by Alyssa DiSabatinoAcera Insurance Services Ltd. is merging with Prizm Financial Inc. to expand its benefits division. The deal follows an ongoing trend of P&C firms expanding their offerings into the financial services realm by becoming one-stop shop for their commercial and…