Canadian Underwriter

Topic B.C.

A closeup of a seismograph machine needle drawing a red line on graph paper depicting seismic and earthquake activity - 3D render
News B.C.CatastrophesClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsOntarioPersonal HomeQuebec

National disaster report highlights industry loss potential

May 12, 2023 by Alyssa DiSabatino

A major earthquake in British Columbia or the Ontario-Quebec region could become the costliest natural disasters Canada has seen, a new government of Canada report warns.  Of pertinence to the industry, as insured damages for a severe earthquake could broach

Forest fire in British Columbia
News B.C.ClaimsEnvironmentalPersonal Home

High temperatures in B.C. pose threat of new wildfires 

May 9, 2023 by The Canadian Press

Rain and cooler temperatures in northeastern British Columbia will help suppression efforts for two out-of-control wildfires, but high temperatures forecast for later this week may pose a new threat, says a BC Wildfire Service spokesman.   Cliff Chapman, the director of

Man tossing sandbags from wheelbarrow to help prevent flooding
News B.C.ClaimsEnvironmentalPersonal Home

Waters recede in parts of flood-ravaged B.C. as half of province remains under threat

May 8, 2023 by The Canadian Press

CACHE CREEK, B.C. – Much of British Columbia’s Interior continued to be under the threat of flooding triggered by rain and warm weather Sunday, but water levels appeared to be receding at one of the hardest hit communities.   Even

Police block the road into the wildfires near Entwhistle Alberta on Sunday May 7, 2023. THE CANADIAN PRESS/Jason Franson.
News AlbertaB.C.BrokersCatastrophesClaimsEnvironmentalInsurersSaskatchewan

What claims may come from the Alberta wildfires

May 8, 2023 by Alyssa DiSabatino

While it’s too early to estimate losses, Canada’s P&C industry is anticipating incoming property damage claims due to Alberta wildfires and insurers may have already begun to see claims from non-physical aspects of the policies, experts tell Canadian Underwriter. As

Cargo containers at a port in Vancouver
News B.C.CommercialInsurersSupply ChainTrending

Vancouver port traffic dips in 2022, hinting at economic slowdown to come

May 3, 2023 by Christopher Reynolds - THE CANADIAN PRESS

MONTREAL – Cargo volumes at Canada’s largest port fell by three per cent last year as the global economy began to show signs of a slowdown. Though grain and fertilizer exports surged in the second half of 2022, the gains

David Wong is the new president and CEO of ICBC
News B.C.HRInsurersManagementOperationsPersonal Auto

ICBC announces new president and CEO

May 1, 2023 by Jason Contant

Insurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC

Bridge over the Fraser River in Prince George, B.C.
News B.C.ClaimsEmerging RisksEnvironmental

Hot spell hikes risks of flooding, avalanches and fire across British Columbia

April 27, 2023 by The Canadian Press

VANCOUVER – As British Columbia heads into its first warm spell of the year, forecasters are warning the heat could raise avalanche and flood risks, while the danger of wildfires has already nudged up to a “moderate” rating in some

We've got ourselves a deal
News B.C.BrokersCommercialHRMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Navacord makes largest acquisition of the year

April 24, 2023 by Jason Contant

Navacord has made its fifth and largest transaction of the year with the acquisition of British Columbia-based SeaFirst Insurance Brokers, effective Apr. 1. With roots dating back to 1950, SeaFirst Insurance has since grown to one of the largest commercial

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News B.C.BrokersCatastrophesEmerging RisksInsurers

Flood backstop, check. Now, what’s the industry’s next agenda item?

April 21, 2023 by Alyssa DiSabatino

Now that Canada has introduced a commitment to a backstop for high-risk flood insurance, the next item for change should be an government earthquake backstop, a panellist noted at the the Insurance Institute of Canada’s Symposium in Toronto Wednesday.  Arguably,

Father With One Child Holding His Son's Hand. Isolated On Color Background.
News B.C.BrokersLicensing

Broker suspended for a year after covering for his son in auto accident

April 17, 2023 by David Gambrill

A veteran B.C. broker had his broker licence suspended for one year after trying to protect his son by falsely claiming to police and the public auto insurer that he was the driver in his son’s hit-and-run accident. In addition

Business merger and acquisition M&A concept
News AlbertaB.C.BrokersCommercialInsurersMergers and AqcuisitionsOntarioPersonal AutoPersonal Home

M&A transactions see Canadian and U.S. brokerages expand nationally

April 13, 2023 by Alyssa DiSabatino

M&A activity this month has seen two major Canadian brokerages—Westland and Brokerlink—expanding their practices nationally, and one U.S.-based brokerage entering the Canadian market.  B.C.-based Westland Insurance expanded its P&C practice with three acquisitions across Ontario, Alberta and Manitoba in April. 

An uneven stretch of road near Quesnel, B.C.
News B.C.ClaimsClaims Canada ArchiveCommercial

Logging, forest loss may have awakened ancient B.C. landslides, at cost of about $1B 

March 24, 2023 by Brenna Owen - THE CANADIAN PRESS

A series of ancient landslides have been “reawakened” in British Columbia’s Cariboo region, costing hundreds of millions in federal disaster assistance funds and prompting warnings that logging is connected to the problem.   The slides and flooding in spring of