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Topic Alberta

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Alberta’s disaster risk assessment plan in poor shape: auditor

September 29, 2020 by The Canadian Press

EDMONTON – Alberta’s auditor general says the province does a poor job of anticipating and preparing for disasters. In a report released this morning, Doug Wylie says Alberta doesn’t have a consistent plan for evaluating the risk the province faces

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What this insurtech says are two ways of being better than the average broker

September 28, 2020 by Greg Meckbach

If you want to be better than the average brokerage, try explaining coverages through the use of examples and try not making consumers wait for days for answers, the co-founder of an insurtech advises. “Insurance can be somewhat stuffy and

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What happens in Alberta when auto insurers are not comfortable with their profitability

September 23, 2020 by Greg Meckbach

The Alberta auto insurance industry is still suffering “hangover” from a 5% cap on rate increases that was abolished more than a year ago, with many insurers not looking for new business, suggests the co-founder of LowestRates.ca. Data released Tuesday

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How vehicle depreciation can create E&O risk

September 21, 2020 by Greg Meckbach

Personal auto insurance brokers who don’t offer an endorsement that would limit an insurer’s right to restrict its coverage to actual cash value could be increasing their errors and omissions risk, a senior broker has cautioned. Alberta and Ontario have

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Veteran brokers are seeing their first-ever hard market. What they need to know.

September 18, 2020 by Greg Meckbach

Brokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.

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Why Uber Canada dropped Intact as its insurance provider

September 16, 2020 by Greg Meckbach

Ride sharing firm Uber Canada chose Economical as its insurance provider because Uber would not agree to Intact’s pricing, a senior Intact executive said Tuesday. “We had a very good relationship, we just couldn’t agree on the price,” Intact CFO

News AlbertaB.C.BrokersManitobaMergers and AqcuisitionsOperations

Westland Insurance reveals its M&A strategy for the future

September 14, 2020 by Jason Contant

Fresh from closing four acquisitions in western Canada, large brokerage Westland Insurance Group plans to continue exploring opportunities in the west, as well as consider deals that would move the brokerage in a more easterly direction. Westland announced on Sept.

News AlbertaCatastrophesClaimsClaims Canada ArchivePersonal Home

How much these four Alberta cats cost insurers in 2020

September 10, 2020 by Greg Meckbach

Four Alberta catastrophes this year have cost insurers a grand total of about $2 billion, the Insurance Bureau of Canada confirmed this week. A hailstorm June 13, affecting mainly northeast Calgary, topped the list as it caused about $1.2 billion

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Industry needs ‘to find a solution’ to this claims adjusting problem

September 9, 2020 by Greg Meckbach

Something needs to be done to make it easier to let Canadian claims adjusters work outside their home province in the event of a disaster, speakers suggested on a recent webinar. “It’s generally understood that it’s easier to bring U.S.

News AlbertaCatastrophesClaims

Extreme precipitation events have always occurred, but are they changing?

September 8, 2020 by Francis Zwiers, Director, Pacific Climate Impacts Consortium, University of Victoria and Ronald Stewart, Professor, Environment and Geography, University of Manitoba - 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.   Extreme weather and climate events causing extensive damage are a

News AlbertaClaimsEnvironmentalLiability

Oilsands tailings ponds leaking; federal enforcement unclear: report  

September 4, 2020 by Bob Weber - THE CANADIAN PRESS

An international environmental watchdog says there’s convincing evidence that oilsands tailings ponds are leaking.   “There is strong scientifically valid evidence of … seepage into near-field groundwater around tailings ponds,” says a report from the Commission on Environmental Co-operation, a body

News AlbertaB.C.BrokersCommercialCommercial AutoManitobaPersonal AutoPersonal Home

Brokerage M&A activity surges amid pandemic

September 3, 2020 by Jason Contant

Brokerage consolidation has exploded, with at least six acquisitions announced across Canada in the past week. Most recently, large brokerage Westland Insurance Group  announced Wednesday the closing of four deals, adding new retail offices in British Columbia, Alberta and Manitoba.