Insurance Corporation of British Columbia (ICBC) president and CEO Nicolas Jiminez will be leaving his post on Feb. 3 to become president and CEO of BC Ferries, ICBC announced Tuesday. ICBC’s board of directors made the announcement in a press…
British Columbia’s Civil Resolution Tribunal (CRT) has dismissed a condo unit owner’s request for $50,000 in punitive damages following sporadic sewer backups over a 20-year period. But the tribunal awarded the owner $3,000 for loss of enjoyment of his unit.…
Industry veteran Doug Morrow has joined Westland Insurance as its new vice president of commercial insurance for Alberta, the brokerage announced earlier this week. Most recently president and CEO of Excel Insurance Group, Morrow joined Westland as vice president, commercial…
Companies looking at the benefits of setting up an Alberta captive insurance company appear to be taking a ‘wait-and-see approach’ with respect to tax treatment. At the moment, the province’s tax authorities have indicated captives will be treated the same…
Intact’s Canadian segment experienced an estimated $77 million, pre-tax, in catastrophe losses during the last quarter of 2022, the company said in a report. That figure is below the previous year’s fourth quarter losses. The Canadian cat losses were mostly…
British Columbia’s auto insurance regulatory body has approved a 0% rate change for basic auto insurance rates in the province for two years, the fifth year in a row of no rate increase. The British Columbia Utilities Commission approved the…
Wind and water claims make up the bulk of the ‘bomb cyclone’ weather event that swept through eastern Canada during the holidays last month, adjusters told Canadian Underwriter. Much of North America was bombarded by heavy snowfall, strong winds and…
B.C.’s Supreme Court has upheld that an insurer is not obligated to defend parents in a lawsuit alleging negligence for failing to stop their child from inflicting harm on others. In Reeves v Co-Operators General Insurance Company, Bentley Reeves and…
VANCOUVER – No weather warnings or watches were posted across British Columbia for the first time in weeks, but Environment Canada says more heavy rain is on the way while flood watches are still up for large parts of Vancouver Island…
Insurers can expect this week’s wave of flight cancellations and delays at Vancouver International Airport to result in claims activity. “Certainly, travel insurance will be hit with delay coverage, baggage issues as people need a toothbrush and change of clothes,…
The Jim Pattison Group, a holding company that does $14-billion in business, has become a minority investor in Alberta-based brokerage HighStreet Insurance Group. The strategic investment marks the entry of the holding company into the Canadian P&C insurance space. Terms…
When Jill Laviolette started picking debris off Cape Palmerston beach on Vancouver Island following the container spill from the MV Zim Kingston freighter, the inflatable dinosaur and unicorn toys she pulled from the sand looked nearly pristine. More than a…