The severity of fire losses in the agricultural sector is increasing as Canadian farms get bigger in size and value, but technologies are available to help reduce the frequency of that severity, a farm insurance expert told Canadian Underwriter. In…
Ontario’s financial services regulator is consulting on proposed guidance for how and when it issues public warning notices. The guidance applies to all sectors (except pensions) regulated by the Financial Services Regulatory Authority of Ontario (FSRA), which includes property and…
Losing your employees to other P&C firms? Join the club. A full 38% of financial services and accounting professionals, including within the insurance sector, are already looking or plan to look for a new job before the end of the…
Record hot ocean temperatures and a tardy El Nino are doubling the chances of a nasty Atlantic hurricane season this summer and fall, the National Oceanic and Atmospheric Administration said Thursday. With the Atlantic hurricane season already well above normal…
FREDERICTON – The torrential rain that washed out roads, bridges and a key rail link in Nova Scotia on the weekend is being described as another sign that engineers cannot rely on past weather patterns to design infrastructure able to…
One of the hallmarks of a warming world is that you never know what may come next. The reasonably stable climate of the last 100,000 years is being thrown into disarray as Earth’s systems are forced out of kilter. For…
Reinsurers reached a tipping point during their January renewal cycle that saw primary insurers bearing larger-than-usual rate increases. Which had the industry asking: How much of these reinsurance increases will make their way down to consumers? And do insurers have…
Alberta’s auto insurance rate pause has caused one insurer to back away from the market, with others potentially following suit. The insurer is said to have a market share of less than 0.5% of auto policies in Alberta, a source…
As smoke from almost 900 of Canada’s wildfires descends upon the United States, resurrecting media reports about air quality, Canadian property and casualty insurers have an eye on a different type of exposure — property damage claims due to wildfire…
Canada’s hospitality sector was particularly hard-hit by the COVID-19 pandemic, with government-mandated shutdowns and restrictions grinding the industry to a halt. Now, as restaurants return to pre-pandemic foot traffic and revenue levels, the need for insurance solutions and capacity is…
Canada’s solvency regulator has published its draft Climate Risk Returns for federally regulated P&C insurance companies, proposing in detail how insurers should be calculating any real and potential climate risks on their books. The forms were created in partnership between…
With heavy rains triggering flooding and landslides in parts of Quebec, some clients may understandably have questions about which perils are covered under their insurance policies. Certain types of water damage are typically covered, while coverage for overland flooding or…