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Canada’s worst-case wildfire scenario could see a $20-billion loss: RMS

May 13, 2021 by Jason Contant

Canada could potentially see $20-billion loss events from wildfire alone, according to recent simulations by Risk Management Solutions, Inc. (RMS). The odds of that happening would be “extremely rare, on the order of a 1-in-10,000-year return period,” Michael Young, vice

News AlbertaBrokersCommercialMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal HomeSaskatchewan

Merger mania: Multiple brokerage deals announced in May

May 11, 2021 by Jason Contant

May 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario.  Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.

News AlbertaClaimsProperty

Flames rip through Alberta retirement complex

May 7, 2021 by The Canadian Press

ST. ALBERT, Alta. – Fire has destroyed part of a retirement complex northwest of Edmonton. Officials say three residents suffered smoke inhalation but no one has died. Flames broke out at Citadel Mews West Continuing Care Facility in St. Albert

News AlbertaBrokersCommercialLegalPersonal Auto

Insurance certificate fraud costs ex-broker $26K

May 5, 2021 by David Gambrill

Alberta’s broker regulator has issued a civil penalty of $26,000 against a former broker found to have issued false insurance certificates to clients as “placeholders” until coverage was bound — which it never was. The penalty was based on 52

News AlbertaB.C.EnvironmentalInsurers

Trans Mountain pipeline operator wins fight to avoid naming its insurance companies

April 30, 2021 by The Canadian Press

CALGARY – The Canada Energy Regulator says it has decided to grant a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers in its regulatory filings. In a ruling, the federal regulator says

News AlbertaEnvironmentalLiability

Study says easing rules on transfer of unreclaimed oil wells could speed cleanup

April 26, 2021 by The Canadian Press

CALGARY – A report says Alberta should lower regulatory barriers that discourage businesses from reusing abandoned oil and gas wells. The Canada West Foundation and Energy Futures Lab say that could include allowing companies to sell off defunct energy infrastructure

News AlbertaLegalLiability

Alberta bill would protect health workers, care homes from some COVID-19 lawsuits

April 23, 2021 by Dean Bennett – THE CANADIAN PRESS

EDMONTON – Alberta has introduced a bill that would give legal protection to health workers, including long-term care-home operators, facing lawsuits over COVID-19. Richard Gotfried, a United Conservative backbencher, says the proposed legislation offers protection but is not a free

News AlbertaB.C.BrokersClaimsInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeSaskatchewan

COVID’s effect on Canadian auto and property rates

April 22, 2021 by Jason Contant

Endorsements to auto policies as a result of changing driving habits from COVID-19 are resulting in average premium rate renewal decreases across most of the country, according to Applied Systems’ latest rating index report. Personal property rates, on the other

News AlbertaB.C.BrokersCatastrophesInsurersPersonal Home

How to bring the risk of catastrophic events home to your clients

April 9, 2021 by Jason Contant

Canada’s property and casualty insurance industry needs to ramp up its public education efforts to bring the risk of catastrophic events home to the Canadian population, speakers said Thursday during the virtual CIP Society Symposium 2021. “I don’t like to

News AlbertaB.C.CommercialEducationEmerging RisksHRManagementOperationsRisk Managers

Etiquette for asking if your employees are vaccinated

April 9, 2021 by Greg Meckbach

Asking your workers whether or not they got their COVID-19 vaccine shot is not necessarily a good idea. “If you are going to require employees to disclose their vaccination status, you need to consider the nature of the workplace,” said

News AlbertaClaimsCommercial AutoInsurersOntarioPersonal Auto

Repair cycle times in Canada: Where it takes the longest to get a car fixed

April 8, 2021 by Adam Malik

Alberta is the only Canadian province where the average days billed for rental vehicles increased in 2020 Q4, according to a recent report. And it appears to be thanks to the almost $2 billion in insured damages the province suffered

News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsPersonal AutoPersonal Home

Three large Canadian brokerages announce separate M&A deals

April 8, 2021 by Jason Contant

Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while