Topic B.C.
Is the personal lines hard market abating?
August 4, 2022 by Jason ContantPersonal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted…
Hot, dry August to bring more wildfires to B.C., forecast says
August 4, 2022 by The Canadian PressVICTORIA – A hot, dry weather forecast for August and into September is expected to result in increased wildfire activity in British Columbia, especially in the southern regions. Neal McLoughlin, the superintendent of predictive services at the BC Wildfire Service,…
Wildfire burning near ski resort forces evacuation of hundreds
August 3, 2022 by Jason ContantA growing wildfire in British Columbia’s Okanagan area has forced the evacuation of more than 300 properties in the ski resort community. These properties, including the Apex Mountain Ski Resort in Penticton, were ordered evacuated as the fire showed “aggressive…
2021 Cat frequency ties 2008 for second place
August 3, 2022 by Glenn McGillivraySevere weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,…
More B.C. heat records fall, conditions prompt flood watch
July 28, 2022 by Jason ContantVANCOUVER – Temperature records are melting across British Columbia as a prolonged heat spell grips the province but Emergency Management BC says it is not anticipating an extreme heat emergency. A statement from the agency says residents should monitor temperature…
Will this week’s weather events result in Cat damages?
July 25, 2022 by Alyssa DiSabatinoWhile Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s…
What the latest wildfire near Lytton, B.C. reveals
July 22, 2022 by Jason ContantThe out-of-control wildfire burning near Lytton, B.C. shows the community and its surrounding area are at high risk of repeated fires, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR). The Nohomin Creek wildfire about 1.7…
Is the two-year limitation period set in stone?
July 21, 2022 by Jason ContantA motor vehicle accident victim can proceed with her personal injury claims after British Columbia’s Civil Resolution Tribunal (CRT) found the provincial public auto insurer made an “explicit promise” not to be bound by the two-year limitation period to start…
Out-of-control blaze grows near fire-ravaged Lytton, B.C.
July 15, 2022 by The Canadian PressLYTTON, B.C. – A wildfire blazing just west of Lytton, B.C., has now scorched five square kilometres of trees and bush, more than doubling in size in less than 12 hours. BC Wildfire Service spokeswoman Taylor Colman says the out-of-control…
Court strikes down cap on costs for auto injury experts
July 13, 2022 by David GambrillB.C.’s Supreme Court has struck down as unconstitutional the province’s 6% cap on disbursements for experts in personal injury actions arising from auto accidents – one feature of the Insurance Corporation of B.C.’s attempt to control its auto insurance claims…
Are businesses covered for a telecom’s “maintenance oops”?
July 11, 2022 by Alyssa DiSabatinoDespite Interac payment systems and phone lines being down, most businesses will not have insurance coverage for any type of income loss as a result of the national Rogers outage on Friday, says one insurance expert. The outage, which…
Why brokers should ask their clients about home renos
July 6, 2022 by Alyssa DiSabatinoCanadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes? Not every…