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Topic Alberta

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What’s behind reduced auto risk sharing pool usage

March 11, 2021 by Adam Malik

The use of risk sharing pools for private passenger auto insurance in Ontario and Alberta dropped last year, according to Facility Association. And when it came to the overall usage of risk sharing pools across the country, there was a

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Why home insurance was so profitable for Intact in 2020

March 11, 2021 by Greg Meckbach

The hard market in home insurance is helping Canada’s largest P&C insurer make a healthy profit. But insurers need to maintain pricing discipline in personal property because weather catastrophe costs are increasing over time, suggests the chief financial officer at

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Energy regulator invites comment on Trans Mountain pipeline’s insurer secrecy request

March 10, 2021 by The Canadian Press

CALGARY – The Canada Energy Regulator is inviting public comment on a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers, with the comment period extending beyond the requested deadline. In an online

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Why auto rates are increasing despite fewer drivers on the road

March 6, 2021 by Jason Contant

Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by

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How Western Financial made its presence known in Atlantic Canada

March 1, 2021 by Greg Meckbach

Western Financial Group is taking a non-controlling interest in Saint John, N.B.-based Huestis Insurance Group. The exact terms of the deal, announced Feb. 23, were not disclosed, other than it will give the High River, Alta.-based Western Financial a “significant”

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Letter to the editor: Best Terms — the buyer’s point of view

February 26, 2021 by BC Risk & Insurance Manager’s Association

To the Editor, We would like to respond to your editorial titled “Regulators, leave subscription policies alone,” dated Dec. 7, 2020. It is true that these are turbulent times in the insurance market, and that insurers have been experiencing losses

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Why Canada should invest in ‘macrogrids’ for greener, more reliable electricity

February 25, 2021 by The Canadian Press

This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. Authors: Brett Dolter, Assistant Professor, Economics, University of Regina; Blake Shaffer,

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Cat counter starts the year at $134 million for winter storms

February 19, 2021 by David Gambrill

For the Canadian P&C insurance industry, Cat activity roared in like a lion in January, but has looked more like a kitten since then. Two winter storms in Western Canada caused more than $134 million in insured damage, based on

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What’s making it harder to estimate property Cat claims

February 17, 2021 by Greg Meckbach

Recent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in

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One knock-off effect of rising condo deductibles

February 16, 2021 by Greg Meckbach

A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000

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Next round of funding available to clean up inactive Alberta oil and gas sites

February 16, 2021 by The Canadian Press

EDMONTON – Alberta and the federal government say another $400 million in funding is available to help clean up inactive oil and gas sites in the province. The money includes $100 million for clean up in Indigenous communities. The rest

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How COVID-19 has affected repair of vehicles from hail

February 12, 2021 by Greg Meckbach

The COVID-19 pandemic has created some barriers to repairing vehicle and property damage – including a shortage of auto body parts, and a labour shortage impacted by Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work,