Topic Alberta
How COVID-19 has affected repair of vehicles from hail
February 12, 2021 by Greg MeckbachThe 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,…
Origin of Excel & Y Insurance Services features renowned Alberta brokers
February 11, 2021 by Greg MeckbachLundgren & 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 now offered in a virtual format
February 9, 2021 by Jason ContantLicensing 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…
COVID’s impact on aviation insurance could be worse than you think
February 1, 2021 by Greg MeckbachThe 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…
Will NatCats cause your business clients to leave hot spots?
February 1, 2021 by Adam MalikAfter going through a wildfire and multiple flooding events over the last few years, it’s reasonable to believe that businesses are re-thinking about being in Fort McMurray, Alta., says a Canadian P&C insurance executive. The executive’s comment applies to more…
Canadian auto and property insurance rates headed in opposite directions
February 1, 2021 by Jason ContantAverage personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both…
How airlines can be exposed to personal injury lawsuits
January 27, 2021 by Greg MeckbachSlips and falls are not just an exposure for property managers and landlords. They are also a concern for aviation insurers. “Generally, aviation insurers are exposed to liability claims from passengers both while they are inside the airplane and also…
Court sides with condo insurers that used the wrong policy to deny a $4.4-million water damage claim
January 20, 2021 by David GambrillSix subscription policy insurers that denied coverage to a condo corporation in a $4.4-million water damage claim — a denial based on reference to the wrong policy — have had the matter tossed out of court. The Court of Queen’s…
The role of digital transformation in Westland’s acquisition strategy
January 14, 2021 by Jason ContantExpanded opportunities for digital transformation are one of the key reasons behind Westland Insurance Group Ltd.’s recent acquisition of Storm Insurance Group, Westland told Canadian Underwriter Tuesday. British Columbia-based Westland closed its acquisition of Storm Jan. 7. Storm operates under…
$2 billion is the new $1 billion for insured Canadian NatCat events
January 5, 2021 by Jason ContantInsured losses from natural catastrophes in Canada totalled nearly $2.5 billion last year, Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) reported Monday. “The years where annual catastrophic insured losses were below $1 billion seem to be a thing of the…
What brokers need to do to place hospitality coverage
December 16, 2020 by Greg MeckbachWhen it comes to the hospitality sector, insurers’ risk appetites are constantly changing and underwriters are especially concerned about clients who get most of their revenue from alcohol, a managing general agent reports. “A broker has to spend a lot…
‘Expensive, extreme:’ Environment Canada releases annual Top 10 weather stories list
December 16, 2020 by Bob Weber - THE CANADIAN PRESSIt was another year of record-breaking disasters and crazy, dangerous weather from coast to coast, says Environment Canada’s senior climatologist. A vicious hailstorm in Calgary wrote off more cars than Albertans normally buy in an entire year. Heat in Ontario…