Topic B.C.
Brokerage M&A round-up: Which four were bought?
November 9, 2020 by Jason ContantBritish Columbia-based Westland Insurance Group Ltd. has moved into the Ontario market, announcing that it has acquired Gillons Insurance Brokers Ltd. The “significant and substantial milestone” supports Westland’s expansion strategy to become a national insurance brokerage, the brokerage said when…
Intact has ‘lost hope’ in this market
November 6, 2020 by Greg MeckbachIntact Insurance could potentially re-enter the British Columbia auto market, but not if it is restricted to offering only optional coverages while competing against a government monopoly, CEO Charles Brindamour said this past Tuesday. During an earnings call, Intact Financial…
Track failure led to train derailment in northern B.C.: safety board
November 5, 2020 by The Canadian PressRICHMOND, B.C. – The Transportation Safety Board says a track failure contributed to the derailment of a freight train in northern British Columbia in January. No one was hurt when 34 cars carrying wood pellets on the Canadian National Railway…
Court tells ICBC to keep paying storage for acid-damaged vehicles
November 4, 2020 by The Canadian PressVANCOUVER – As a dispute over an acid spill that damaged thousands of vehicles winds its way through court, the Insurance Corporation of B.C. has been ordered to keep paying storage costs for the writeoffs. The corporation asked the B.C.…
What brokers are looking at to help condo corporations reduce deductibles
October 29, 2020 by David GambrillBrokers working in the condo insurance class of business are looking at creative ways to help their condo corporation clients shoulder the burden of much higher deductibles — including preliminary discussions around the option of “buy-down” deductibles. “As a broker,…
This decision on a $5,000 deductible could motivate condo corporations to change their bylaws
October 28, 2020 by David GambrillA recent decision by B.C.’s Civil Resolution Tribunal (CRT) may motivate strata (condo) corporations to adjust their bylaws so that they can charge insurance policy deductibles back to their strata unit owners. Based on the outcome of the CRT decision,…
5th Top Story in 2020: Intact to exit this line of business
October 28, 2020 by Jason ContantCanada’s largest insurer announced late Tuesday that its brands Intact Insurance and belairdirect will no longer offer optional auto coverage in British Columbia. “This decision was taken after careful consideration, given the upcoming regulatory changes in the province that will…
First the industry mandated fire detectors. Now should it require water detectors?
October 27, 2020 by Adam MalikAn abundance of technology is available to prevent water damage in condo buildings, but panellists of a recent Canadian Underwriter webinar questioned why it’s not being mandated or put to use as condo claims continue to increase. Existing technology such…
What this Vancouver plaintiff’s lawyer says about pandemic business interruption coverage
October 27, 2020 by Greg MeckbachA British Columbia lawyer suggests at least half the business interruption insurance policies he has reviewed should cover a client who lost business because of emergency measures imposed to contain the novel coronavirus. “People who have ‘all-risk’ policies should be…
Purdue Pharma pleas could bolster efforts for Canadian opioid class action
October 23, 2020 by Anita Balakrishnan - THE CANADIAN PRESSTORONTO – A Canadian class action against opioid makers will start the process of getting certified in a hearing next month, a key test on how courts here will handle a case that is making waves in the U.S. The…
Insurer loses scooter claim because of a ‘deprecated’ sales receipt
October 20, 2020 by David GambrillIf a claim for a stolen scooter draws suspicion, an insurer will need to do more than just cite skepticism about the condition in which the power charger, keys and helmet are returned — especially if the electronic bike’s purchase…
Western Canadian air tanker fleet busy despite drop in wildfires
October 19, 2020 by Bill Graveland - THE CANADIAN PRESSRED DEER, Alta. – A family-run company providing air-tanker support to control menacing wildfires in British Columbia, Alberta, Manitoba and Yukon is a little less busy these days, but it has nothing to do with the COVID-19 pandemic. “It has…