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…
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”…
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…
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,…
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…
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…
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…
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…
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,…
Lundgren & Young Insurance is forming a new Alberta brokerage, Excel & Y Insurance Services, as a result of a partnership with Excel Insurance Group Inc. “We remain an independent brokerage wholly owned by myself and my family,” said Robyn…
Licensing exams for Ontario’s brokers are now available in an online, virtually-proctored format, the result of a partnership between the Insurance Institute of Canada and Ontario’s broker regulator RIBO (Registered Insurance Brokers of Ontario). “This is welcome news to many…
The drop in international air travel is not causing a corresponding decline in aviation insurance claims costs, a Calgary-based commercial specialty expert warns. Meanwhile, airlines will not see sales return to pre-pandemic levels even after most Canadians get their COVID…