Despite inflation, flagging consumer confidence and slowdowns in GDP globally, reinsurers have been experiencing a firming cycle that’s lasted 19 consecutive quarters, noted David Priebe, chairman of global risk and reinsurance specialist Guy Carpenter during a Sept. 7 briefing call.…
A B.C. commercial fishing operation must face a jury in its insurance claim against Intact Insurance and the brokerage Harlock Murray Underwriting Ltd., B.C.’s Supreme Court has ruled. The court was not convinced the claim of Arctic Pearl Fishing Ltd.,…
Even before the COVID-19 pandemic, delays plagued commercial and residential construction in Canada. What’s changed since March 2020 is a rise in contributing factors causing these delays, noted Steve Schmelzle, practice leader of construction and contracting at Intact Insurance Specialty…
Dangerous driving in school zones is a common occurrence, especially during back-to-school time, according to a survey by the British Columbia Automobile Association (BCAA). Eighty per cent of those surveyed said they’ve witnessed speeding in school zones, while 77% have…
OTTAWA – The Bank of Canada raised its key interest rate by three-quarters of a percentage point Wednesday and signalled this won’t be the last increase as it continues its battle against high inflation. The rate hike was in line…
Insurers can trim their environmental remediation costs by shopping around for more than one site estimate, recommends Lori Festarini, environmental director at Charles Taylor. That may involve getting technical support or peer-reviewed cost estimates, she elaborates. “One way of managing…
Aviva Canada successfully appealed a tribunal decision that called for the insurer to pay full auto insurance income replacement benefits (IRB), with no deduction, on top of the sickness benefits she was already receiving under the Employment Insurance Act (EIA).…
Brokers with clients in the oil and gas industry are closely watching statements by insurers announcing intentions to exit from coverage of Canada’s oil sands. Those insurers, like many other companies globally, are under intense pressure from consumers and governments…
OTTAWA – Inflation appears to have peaked but it’s still running hot and a supersized rate hike from the Bank of Canada next week is widely expected. Some economists think Wednesday’s hike could be the last for a while. “We…
Anthony Tramonte has joined Allianz Global Corporate & Specialty (AGCS) as head of marine for AGCS Canada, the insurer announced Thursday. In his new role, Tramonte will develop and lead the local strategy and proactively support the development of AGCS’…
In this year’s second annual Jim Abernethy Challenge, the Leukemia & Lymphoma Society of Canada hopes Canadian P&C insurance professionals can help top last year’s $500,000 contribution to blood cancer research and community support. The Jim Abernethy Challenge is part…
Insured flood losses doubled to $80 billion during 2011-20 compared to the previous decade, and global flood losses reached $20 billion alone in 2021, Swiss Re reports. “Increased wealth, larger populations and urbanization have raised flood risk exposures across the…