Topic Claims
N.L. cyberattack shows Canada needs national rules to protect personal data: experts
November 18, 2021 by Sarah Smellie - THE CANADIAN PRESSST. JOHN’S, N.L. – The cyberattack on Newfoundland and Labrador’s health-care system is yet another urgent signal that Canada needs better rules around protecting personal health information from hackers and needs a unified response plan when health-care services are under…
Border-crossing vaccine mandate adds to driver shortages, supply chain concerns
November 17, 2021 by Canadian Underwriter StaffBrokers are struggling to support their transportation clients as a new border-crossing vaccine mandate adds to driver shortages and supply chain concerns for an industry that’s already grappling with a host of prolonged concerns, a broker has said. The recent…
How Ontario direct compensation-property damage affects temporary loaner vehicles
November 17, 2021 by Greg MeckbachAn Ontario insurer that wrote optional collision coverage for a client is not on the hook for damage to a loaner vehicle borrowed by that client while that client’s own vehicle was in for repair, a judge wrote in a…
Annual inflation rate rises to 4.7% in October, Statistics Canada says
November 17, 2021 by Jason ContantOTTAWA – Statistics Canada says the annual pace of inflation in October rose to 4.7 per cent as the consumer price index posted its largest year-over-year gain since February 2003. The increase compared with a year-over-year increase in the consumer…
What FSRA says about the ‘take all comers’ auto insurance rule
November 16, 2021 by Greg MeckbachOntario’s auto insurance regulator is taking aim at insurers who avoid issuing auto policies to people living in certain cities or who did not buy a property polices or are otherwise off-side the “take all comers” rule. The Financial Services…
Is the commercial insurance market starting to soften?
November 16, 2021 by Jason ContantPremium rate changes in commercial lines in Canada have experienced a slight downturn quarter-over-quarter, indicating that the commercial hard market may be easing up a bit. “While we are still experiencing a hard market, the Q3 index shows a slight…
20 evacuation centres open in B.C. for rescued motorists, residents escaping
November 16, 2021 by The Canadian PressAGASSIZ, B.C. – Melanie Forsythe’s drive home from Vancouver to Hope, B.C., had her making at least five detours as torrential rain washed out a bridge, closed roads and trapped her overnight between two mudslides before a helicopter landed on…
How much Intact has improved its personal property loss ratio
November 15, 2021 by Greg MeckbachAs home insurance prices continue to climb, Intact Financial Corp. reported an underwriting profit in personal property in the latest quarter, despite higher-than-normal weather catastrophe losses. The personal property line “should operate” with combined ratios below 95% “even with severe…
Heavy rain sets off flooding, rocks and mudslides in southern B.C.
November 15, 2021 by The Canadian PressVANCOUVER – A local state of emergency has been declared in part of British Columbia’s eastern Fraser Valley where unrelenting rainfall caused flooding, mud and rock slides and the closure of highways to and from the southern Interior. Environment…
Stability, finally? What insurers and brokers can look forward to in 2022
November 12, 2021 by Brooke SmithBrokers and insurers may see some stabilization in the market in 2022. “We saw tremendous rate pressure, high operating ratios, and low ROIs in 2019 and 2020,” said Kevin Neiles, president, Western Canada and chief markets officer at Gallagher, during…
Damage being tallied from summer drought across Prairies
November 12, 2021 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – The consequences of last summer’s searing drought are being felt on farms and ranches across the Prairies, where some livestock producers are heading into a long, cold winter with dangerously low supplies of feed and water. On his…
105 containers that fell off cargo ship believed to have sunk: coast guard
November 11, 2021 by The Canadian PressVICTORIA – The Canadian Coast Guard says it believes that many, if not all, of the 109 containers that fell from a cargo ship off Victoria in late October have sunk. The containers were tossed from the MV Zim Kingston…