Topic B.C.
Brokerage reprimanded for handling of privacy breach
October 31, 2023 by David GambrillB.C.’s broker regulator has reprimanded an unnamed brokerage and ordered its nominee to take courses on how to handle a privacy breach, after a stash of client documents was recovered by a third party and returned to the insurance company.…
How to build environments that reduce staircase injuries
October 31, 2023 by By Dr. Andrew Huntley and Claire Miller, 30 Forensic EngineeringAs research drives new ways to build staircases that can prevent slip-and-falls, Canada’s building codes should be updated accordingly to reflect the safer designs. The importance of code updates is illustrated by falls on stairs, which in Ontario alone led…
Accelerant scoops up Omega Insurance Holdings
October 27, 2023 by David GambrillAccelerant Holdings U.K. Ltd. has officially entered the Canadian property and casualty insurance market, closing the deal to acquire Omega Insurance Holdings Inc. from Till Capital Corporation. Accelerant will pay Till Capital approximately $13 million Cdn in exchange for all…
Why auto insurance concerns might hinder electric vehicle adoption
October 26, 2023 by Alyssa DiSabatinoAs governments gear up for a national push toward electric vehicles (EVs), Canadians are harbouring anxieties about their auto insurance policies. Seventy eight per cent of Canadians are concerned about the cost of their insurance premiums on an electric vehicle,…
Where auto and home insurance rates are headed
October 24, 2023 by Jason ContantHard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all provinces. In 2023 Q3, personal auto premiums in…
P&C industry joins the $3-billion Cat club (again)
October 19, 2023 by David GambrillFor the second year in a row, Canadian P&C insurers have become members of the unenviable $3-billion Cat club while paying out natural catastrophe damage losses. This year, damage losses were primarily so-called ‘secondary perils’ such as severe weather storms…
New president for national brokers’ association
October 18, 2023 by Alyssa DiSabatinoTraci Boland is the new president of the Insurance Brokers Association of Canada (IBAC). Boland is partner and manager at Ontario West Insurance Brokers and Bill Blaney Insurance Brokers. She holds more than over 20 years’ experience in the industry…
Canadian municipalities looking to become ‘spongier’ to build climate resilience
October 10, 2023 by Morgan Lowrie - THE CANADIAN PRESSMONTREAL – From green roofs in Toronto to Vancouver’s rain city strategy, Canadian cities are looking to become “sponges” in order to help mitigate some of the effects of extreme rainfall events. In Montreal, Mayor Valerie Plante announced last week…
Next up in Navacord’s merging spree
October 10, 2023 by Alyssa DiSabatinoNavacord brokerages Allwest Insurance and Waypoint Insurance Inc. will be merging under the Waypoint banner, effective Nov. 1. The two B.C. brokerages are joining forces to combine the strengths and expertises of both companies, Navacord said in a press…
New Aviva Canada partnership targets rent deposits
October 5, 2023 by Jason ContantAviva Canada has partnered with technology company RentHaven Inc. to offer tenants a product that provides an alternative to large upfront security and last month’s rent deposits through a surety bond. Underwritten by Aviva Insurance Company of Canada, the surety…
How much B.C.’s catastrophic wildfires will cost insurers
October 4, 2023 by Alyssa DiSabatinoB.C.’s summer wildfires clocked in as the costliest insured event ever recorded in the province, and the tenth costliest insured event in Canada’s history, Insurance Bureau of Canada (IBC) said. Wildfires in the Okanagan and Shuswap regions of B.C. will…
B.C. disaster response outdated and inaccessible for evacuees: ombudsperson
October 4, 2023 by Brieanna Charlebois - THE CANADIAN PRESSVANCOUVER – Emergency support programs for disaster evacuees in British Columbia are outdated, under-resourced, inaccessible and poorly communicated, according to a report by the province’s ombudsperson. Ombudsperson Jay Chalke’s report on the government’s response to wildfires and severe flooding in…