Canadian Underwriter

Topic B.C.

Split screen of a tree in summer versus winter
News B.C.CatastrophesEnvironmentalPersonal Home

Utility says B.C.’s heat, rain and cold in 2021 underscore changing demand for power

January 21, 2022 by Jason Contant

VANCOUVER – British Columbia endured sizzling summer heat and bone-numbing cold to end 2021 and the province’s electrical utility says the result was a record-breaking, year-round demand for power, launching a trend that’s not expected to end soon. In a

Boats moored in False Creek with a view of downtown Vancouver
News AlbertaB.C.BrokersCatastrophesPersonal HomeProperty

Behind the hard-hit condo insurance market in B.C. and Alberta

January 20, 2022 by Jason Contant

Wood frame construction for stratas, increased building material costs, and earthquake exposure in British Columbia contributed to the skyrocketing condo insurance premiums that hard market sector saw over the past few years, an Aon executive says. “There’s a lot more

Picture of No Diving sign next to a lake
News B.C.ClaimsClaims Canada ArchiveCommercialLegalLiabilityRisk Managers

The case for tracking your risk advice

January 19, 2022 by David Gambrill

The City of Revelstoke, B.C., has been found 35% contributorily negligent for not adhering to a recommendation contained in a 2011 risk management audit, which advised to maintain painted ‘No diving’ signs on a raft in Williamson Lake Park. “The

Condo with sunny blue sky background
News AlbertaB.C.ClaimsInsurersLoss TrendsPersonal Home

Signs for optimism in the condo insurance market?

January 18, 2022 by Jason Contant

Condo insurance premiums in Canada appear to be stabilizing following years of premium and deductible increases. “You should see some flattening, maybe some tapering, in some insurance rates in this sector in the near future for most good risks and

Motorist driving on closes Trans-Canada highway in Abbotsford, BC
News B.C.CatastrophesClaimsEnvironmentalInsurersLoss TrendsPersonal Home

Claims costs keep rising for B.C. catastrophes

January 18, 2022 by Jason Contant

British Columbia’s costliest severe weather event in provincial history just got more expensive. Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Friday that the Canadian property and casualty insurance industry expects to pay out $515 million for claims

Dealer hands over car key to buyer
News B.C.ClaimsInsurersLegalPersonal Auto

Court favours insurer in case that differentiates between leasing and financing

January 14, 2022 by David Gambrill

B.C.’s public insurer is off the hook to pay for vandalism damage done to a car that was jointly owned by the driver and his finance company, because the arrangement between the two car owners was not a true lease.

News AdjustersB.C.CatastrophesClaimsEnvironmentalInsurersLoss TrendsPersonal Auto

What Intact paid for Cats last quarter

January 12, 2022 by Jason Contant

Intact paid out an estimated $186 million for catastrophe losses in 2021 Q4, the company reported. “Approximately 55% of the catastrophe losses were in our Canada segment, with half in personal property,” IFC says in a press release. “This mostly

A gavel pounds down next to an image of two toy cars crashing
News AlbertaB.C.BrokersClaimsInsurersLegalLiabilityPersonal Auto

Court gets tough in $10-million “emotional distress” case

January 12, 2022 by David Gambrill

Canadian courts are starting to get tough on potentially vexatious claimants, including insurance claimants, as seen in a Jan. 7 decision by the Court of Queen’s Bench in Alberta. In Sun v. Allwest Insurance Services, the Alberta court referred to

News B.C.CatastrophesClaimsEnvironmentalInsurers

Canadian insured Cat losses exceed $2 billion — again

January 11, 2022 by Jason Contant

Canadian insured losses topped $2 billion for the second year in a row, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). “2021 saw much discussion of a ‘new normal’ for Canadians, but when it comes to insured losses,

News B.C.ClaimsEnvironmentalPersonal Home

Atmospheric river packing several powerful rainstorms heading for southern B.C.

January 10, 2022 by The Canadian Press

VANCOUVER – Power has been restored in two Vancouver Island communities that lost electricity early last week as snow, ice and wind storms pounded parts of British Columbia, but forecasters warn another powerful system is on the way. BC Hydro

News B.C.ClaimsInsurersLegalLiabilityPersonal Home

Insurer cleared in case of hearing aid replacement mix-up

January 7, 2022 by David Gambrill

A home insurer has been cleared of any liability after a hearing aid supplier produced a different brand of ear phones than had been cited in the initial insurance quote, B.C.’s civil resolution tribunal has found. The small claims court

Damage caused by heavy rains and mudslides is pictured along the Coquihalla Highway near Hope, B.C.
News B.C.Claims

Why the B.C. floods had less insured damages than the Calgary flood

January 5, 2022 by Alyssa DiSabatino

British Columbia suffered its worst flood in the province’s history in late 2021, causing approximately $450 million in insured damages, according to estimates by Catastrophe Indices and Quantification Inc. (CatIQ).   Still, the insured damages pale in comparison to Canada’s costliest flood, which