Canadian Underwriter

Topic B.C.

News B.C.BrokersManagementManitobaMergers and AqcuisitionsOntarioOperations

Two ways COVID-19 affected this large brokerage’s M&A strategy

November 20, 2020 by Jason Contant

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

News B.C.CommercialLegalProperty

For insurance purposes, if it’s not managed as a strata, it’s still a strata: Tribunal

November 19, 2020 by David Gambrill

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

News B.C.Business InterruptionClaims

Powerful winds, high tides raise flooding concerns as storm sweeps across B.C.

November 17, 2020 by The Canadian Press

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

News AlbertaB.C.BrokersCommercialManitobaMergers and AqcuisitionsOntarioPersonal AutoPersonal HomePropertySaskatchewan

Westland brokerage moves in an easterly direction

November 13, 2020 by Jason Contant

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,

News AlbertaB.C.ClaimsInsurersLoss ControlLoss TrendsOntarioPersonal Home

Hard market is trickling down to condo unit owners

November 13, 2020 by Greg Meckbach

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

News B.C.ClaimsInsurersLegalLiabilityLoss ControlPersonal Home

Can a strata lot owner launch a subrogated water claim on behalf of its insurer?

November 11, 2020 by David Gambrill

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

News B.C.BrokersLicensing

Broker suspended for passing off client’s cancelled vehicle plates as his own

November 10, 2020 by David Gambrill

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)

News AlbertaB.C.BrokersCommercialInsurersMergers and AqcuisitionsOntarioPersonal AutoPersonal HomeQuebecSaskatchewan

Brokerage M&A round-up: Which four were bought?

November 9, 2020 by Jason Contant

British 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

News B.C.Personal Auto

Intact has ‘lost hope’ in this market

November 6, 2020 by Greg Meckbach

Intact 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

News B.C.CommercialRisk Managers

Track failure led to train derailment in northern B.C.: safety board

November 5, 2020 by The Canadian Press

RICHMOND, 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

News B.C.ClaimsInsurersLegal

Court tells ICBC to keep paying storage for acid-damaged vehicles

November 4, 2020 by The Canadian Press

VANCOUVER – 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.

News B.C.BrokersClaimsCommercialInsurersPersonal Home

What brokers are looking at to help condo corporations reduce deductibles

October 29, 2020 by David Gambrill

Brokers 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,