Topic B.C.
Fracking likely to create stronger, more common earthquakes in B.C., study says
May 26, 2021 by Bob Weber - THE CANADIAN PRESSMore damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,…
What B.C. trial lawyers are asking of Canada’s top court in RSA dispute
May 25, 2021 by Greg MeckbachThe Trial Lawyers Association of British Columbia is asking Canada’s top court to essentially make a “new law” barring a liability insurer from taking an off-coverage position after starting to defend a tort claim if the insurer previously had “presumed…
Downpours in southeast B.C. raise flood concerns
May 25, 2021 by The Canadian PressFAIRMONT HOT SPRINGS, B.C. – An evacuation alert has been issued for more than 200 homes and businesses in southeastern British Columbia as a weekend downpour and the likelihood of more rain raise the potential for flooding in the Fairmont…
Why wildfire is moving into ‘peak peril’ range
May 14, 2021 by Jason ContantWildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting…
How these auto reforms could reduce liability exposure for hospitality clients
May 10, 2021 by David GambrillB.C.’s move towards a form of no-fault auto insurance could wind up reducing liability exposure for commercial insureds in the hospitality and other high-risk sectors, according to a recent blog by Borden Ladner Gervais LLP. The province’s no-fault amendments came…
Brokerages will need these new skill sets
May 10, 2021 by Greg MeckbachTo compete in a digital world, the insurance industry needs to hire data scientists and computer programmers, Virtual Symposium B.C. attendees heard last week. “Every insurance organization is going to look at new roles that they never had before,” said…
Where MGAs could find new capital as Lloyd’s limits capacity
May 8, 2021 by Greg MeckbachWith some commercial coverages becoming harder to place in the hard market, reinsurers are looking to distribute through managing general agents, Virtual Symposium B.C. attendees heard Thursday. “I had two meetings today with two separate reinsurers who are very interested…
How insurers could centralize consumer data — and why they might not
May 5, 2021 by Greg MeckbachThe industry could potentially evolve towards an “open insurance strategy,” similar in concept to open banking, whereby consumers allow third parties access to their insurance data, an insurtech CEO suggests. In Europe, open banking gives consumers access to their banking…
Trans Mountain pipeline operator wins fight to avoid naming its insurance companies
April 30, 2021 by The Canadian PressCALGARY – 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…
Tribunal quashes small claim from owner of water-damaged strata unit
April 29, 2021 by Greg MeckbachYour client owns a strata apartment in a high-rise. Water starts coming in from the ceiling from the unit above. The night security guard visits the higher of the two units but neither the occupant nor the security guard can…
COVID’s effect on Canadian auto and property rates
April 22, 2021 by Jason ContantEndorsements 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…
Alarms being installed on B.C. river and dam following fatal water release
April 22, 2021 by The Canadian PressVANCOUVER – An interim public alarm system is being installed on the Cleveland Dam and along the Capilano River in North Vancouver to prevent future deaths from a sudden release of water. Five people fishing on the river last October…