Canadian Underwriter

Topic Alberta

Family home with car in the driveway
News AlbertaB.C.BrokersInsurersLoss TrendsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeQuebecSaskatchewan

Is the personal lines hard market abating?

August 4, 2022 by Jason Contant

Personal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted

Large hailstones on grass
News AlbertaClaimsEnvironmentalPersonal Auto

Hail as big as tennis balls, softballs and eggs fell in Alberta: Environment Canada

August 3, 2022 by The Canadian Press

Environment and Climate Change Canada says hail ranging from the size of a pea to a softball fell in central Alberta on Monday. Sara Hoffman, who is a meteorologist with the agency, says although the storm that passed through the

Burned out buildings in Lytton, B.C.
News AdjustersAlbertaB.C.ClaimsClaims ProfessionalsCommercialCommercial AutoConstructionEnvironmentalInsurersLoss ControlLoss TrendsOntarioPersonal AutoPersonal HomeProperty

2021 Cat frequency ties 2008 for second place

August 3, 2022 by Glenn McGillivray

Severe weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,

Stormy sky with a wall of clouds
News AlbertaB.C.BrokersEnvironmentalInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.QuebecSaskatchewanYukon

Will this week’s weather events result in Cat damages?

July 25, 2022 by Alyssa DiSabatino

While Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s

Man getting into a rental vehicle
News AlbertaClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebecSupply Chain

The factors driving increased car rental times in Canada

July 25, 2022 by Jason Contant

Length of rental (LOR) for collision replacement-related rentals in Canada jumped nearly six days year-over-year, driven in part by ever-changing parts availabilities and repair backlogs, said car rental agency Enterprise Rent-A-Car. The overall Canadian LOR was 16 days in 2022

A farmer wearing a straw hat and a plaid shirt kneels with one hand holding his head and one hand reaching towards his corn crop
News AlbertaInsurersOntarioRisk Managers

Risk management outlooks crop up for farm insurers

July 20, 2022 by Alyssa DiSabatino

Farmers across Canada are being buffeted by a mix of drought conditions and hail damage in June and July, but insurers may be able to increase farmers’ risk management through drought and hail outlooks, experts explain.   Southern Ontario farmers

Tree fallen on power line during a storm
News AlbertaClaimsEnvironmentalPersonal AutoPersonal Home

Storm causes property damage in southeast Alberta

July 19, 2022 by The Canadian Press

MEDICINE HAT, Alta. – Alberta Emergency Alert says a storm has caused damage to homes and vehicles in the southeastern corner of the province. It initially called it a tornado, but now says it was a storm with dangerous and

Oil rig in the Alberta Rocky Mountains
News AlbertaCommercialEnvironmentalRisk Managers

New captive may help Alberta’s energy industry spread risk

July 18, 2022 by Philip Porado

At least one insurer has taken Alberta up on its newly legislated option to domicile captive insurance companies in the province. The Captive Insurance Companies Act in Alberta, formerly Bill 76, came into force July 1. NFP this week announced

Group of businesspeople shaking hands representing an M&A deals
News AlbertaBrokersBusiness InterruptionCommercialMergers and AqcuisitionsNew BrunswickOntarioPersonal AutoPersonal HomeProperty

BrokerLink closes three more acquisitions across Canada

July 15, 2022 by Jason Contant

BrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months. A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June

Two individuals walking in front of a Rogers storefront.
News AlbertaB.C.BrokersBusiness InterruptionClaimsInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.

Are businesses covered for a telecom’s “maintenance oops”?

July 11, 2022 by Alyssa DiSabatino

Despite Interac payment systems and phone lines being down, most businesses will not have insurance coverage for any type of income loss as a result of the national Rogers outage on Friday, says one insurance expert.   The outage, which

A map of Ontario with a select focus on Southern Ontario. Cities and main highways are pictured.
News AlbertaOntarioPersonal Auto

IBC’s thoughts on Premier’s mission to end “unfair” postal code rating

July 8, 2022 by Alyssa DiSabatino

Ontario drivers may soon see the end of “unfair” rating of auto insurance policies based on postal codes, says Ontario Premier Doug Ford, and the Insurance Bureau of Canada agrees it may be time to modernize territorial rating.  “I know

A pair of glasses, a small model home, a level tool, a measuring tape, a set of pens and two construction hats sit atop a blueprint of a house on a desk.
News AlbertaB.C.InsurersOntarioPersonal Home

Why brokers should ask their clients about home renos

July 6, 2022 by Alyssa DiSabatino

Canadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes?  Not every