Topic Alberta
BrokerLink closes nine brokerage acquisitions across the country
August 11, 2020 by David GambrillBrokerLink announced Tuesday the closing of nine acquisitions to date for 2020, including the acquisition of brokerages in Alberta, Ontario, Nova Scotia and New Brunswick. BrokerLink, a subsidiary of Intact Financial Corporation, continues to look to the future to carry…
Wildfire risk is elevated this year. Why the pandemic made it worse
August 7, 2020 by Adam MalikThe central and Pacific coast of British Columbia could see an increased risk of wildfires this year, a new report predicts. And COVID-19 restrictions could make the risk higher, Allianz Global Corporate & Specialty warned in its 2020 Wildfire Report,…
COVID’s impact on Aviva’s first-half results
August 6, 2020 by David GambrillAviva Canada overcame high claims costs related to pandemic losses and severe-weather catastrophe events in Alberta to trim its combined operating ratio (COR) down from 98.1% in the first half of 2019 to 95.5% during the first half of this…
The link between the Edmonton Oilers and Arthur J. Gallagher’s latest acquisition
August 5, 2020 by David GambrillArthur J. Gallagher & Co. has acquired Edmonton, Alta.-based Insight Insurance & Risk Management Ltd., the official insurance brokerage of NHL hockey’s Edmonton Oilers. Founded in 2013 by CEO Alexis Harke, Insight is a retail insurance broker serving clients throughout…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
Swiss Re Group books $2.5 billion for pandemic-related losses
July 31, 2020 by David GambrillSwiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent…
The business line that drove Intact’s profitability in 2020 Q2
July 31, 2020 by Greg MeckbachIf you placed homeowner’s insurance with Intact during 2020 Q2, your business helped propel Canada’s largest P&C insurer to its most profitable second-quarter personal property result in more than 10 years. Intact Financial Corp. reported that its combined ratio in…
P&C insurers can handle severe weather events, but for how long?
July 27, 2020 by Adam MalikCanadian property and casualty insurers should be able to manage well financially for the time being, despite currently dealing with a pandemic and the fourth-most expensive natural catastrophe in the country’s history, says global credit rating agency DBRS Morningstar. However,…
Edmonton man recalls comforting victims of fatal bus rollover
July 24, 2020 by Lauren Krugel - THE CANADIAN PRESSAhad Saheem and his friend were taking pictures and drinking cold, clean water from the Athabasca Glacier in Jasper National Park when they heard a loud noise behind them. A red-and-white sightseeing bus with giant tires, just like the one…
What happened to the ex-broker who claimed he was a CE instructor, but wasn’t
July 22, 2020 by David GambrillA former broker who has vowed never to return to the insurance industry has been ordered to pay a $5,000 civil fine for claiming to be a CE instructor when he had not in fact taught the course he claimed…
Tour company investigating Alberta glacier bus crash that killed three
July 20, 2020 by Bill Graveland - THE CANADIAN PRESSCOLUMBIA ICEFIELD, Alta. – The president of the company that runs the bus tours at the Columbia Icefield between Banff and Jasper said changes will be made, if necessary, after a rollover on the glacier killed three people and sent…
Storm causes damage but Edmonton Oilers arena structurally sound: mayor
July 17, 2020 by THE CANADIAN PRESSEdmonton’s mayor says a preliminary assessment shows storm damage to Rogers Place is not structural and the arena will be able to hold upcoming National Hockey League games. Don Iveson says photos of Thursday night’s flooding and damage to the…