One of Canada’s largest institutional investors has joined forces with Cinven, an international private equity firm, to acquire Compre, a specialist global consolidator of closed books of non-life insurance policies. Victoria-based British Columbia Investment Management Corporation (BCI) and Cinven announced…
A police officer injured in a collision with a stolen truck has lost his bid to seek compensation against the dealership from which the truck was stolen; with Canada’s top court refusing to hear the case, the end result is…
Canada’s national association of provincial property and casualty insurance regulators is looking into “Best Terms Pricing” in all commercial lines following recent regulatory actions to ban the practice in the strata insurance line in B.C. and Alberta. The Canadian Council…
The average British Columbia consumer does not really understand what rights they will lose with the auto insurance reforms scheduled to take effect this May, a Vancouver personal injury lawyer warns. Provincial politicians voted earlier this year to pass Bill…
B.C.’s Court of Appeal threw out a default judgment against Lloyd’s of London Monday in a case involving the theft of golden eagles used for a charity event. In doing so, the court criticized lawyers for both the claimant and…
The COVID-19 pandemic required one large Canadian brokerage to take a “very different approach” to mergers and acquisitions (M&A) activity. COVID affected the M&A process in two significant ways, Jamie Lyons, president and chief operating officer with Westland Insurance Group…
The owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata…
VANCOUVER – Much of coastal British Columbia is braced for a brief but powerful windstorm while snowfall and winter storm warnings stretch from the inland north coast all the way to the northeast corner of the province. Environment Canada says…
Westland Insurance’s mergers and acquisition strategy continues in an easterly direction from its roots in British Columbia. Just days after closing its first-ever brokerage acquisition in Ontario, Westland Insurance Group Ltd. announced its second acquisition in Manitoba. On Nov. 10,…
The hard market in commercial property coverage for condo corporations is having an impact on individual condo and strata unit owners, new data from LowestRates.ca shows. Personal property rates for condo unit owners increased 16% year-over-year in both Alberta and…
We’ve all heard about an insurer launching a subrogated claim on behalf of its insured, but how about an insured launching a subrogated claim on behalf of its insurer? B.C.’s Civil Resolution Tribunal, a type of small claims court, recently…
A B.C. broker has been suspended for two years and fined $1,000 for passing off a client’s cancelled vehicle license plates as his own, giving the appearance that his vehicle was insured when in fact it wasn’t. Ping Hong (Gary)…