Topic Manitoba
Canada’s most-exposed flood regions
June 10, 2022 by Alyssa DiSabatinoQuebec has the highest historical average annual loss (AAL) for flood faced by any region across the country, at $861.3 million, but Yukon’s average annual loss per residential address (RA) stands at $925, well above Quebec’s $229 loss per residence.…
Canadian P&C brokerage space sees four M&A deals in June
June 8, 2022 by Jason ContantMerger and acquisition activity in the Canadian P&C insurance industry is showing no sign of slowing down in the second half of 2022, with the announcement of four transactions by three brokerages already since the beginning of June. McDougall Insurance…
Becoming better at planning for disasters
June 6, 2022 by Alyssa DiSabatinoIf the ongoing flooding in Manitoba and the Ontario/Quebec derecho storm of last month taught us anything, it’s that we must change how we think about natural disasters, argue the Institute for Catastrophic Loss Reduction’s Glenn McGillivray, and PhD candidate Korey Pasch,…
Brokers want more consistency in overland flood policies
June 2, 2022 by Alyssa DiSabatinoDespite Manitoba being battered by flooding and severe weather since mid-April, many homeowners may find themselves without overland flood coverage, according to the CEO of the Insurance Brokers Association of Manitoba. Following an “unseasonably cold spring,” significant snowmelt in…
Adjusters stretched thin after back-to-back storms
May 31, 2022 by Alyssa DiSabatinoManitoba has experienced one of the wettest springs on record, and the back-to-back storms and flooding have stretched adjusters’ resources very thin, claims professionals say. Strong winds and a rainstorm that occurred in Manitoba last evening have continued into today. This event…
How to speed up claims response for NatCats
May 25, 2022 by Yasser Korany, Mario Delorme and Mazen HabashExtreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme…
Stakes are high for farmers as 2022 crop shapes up to be most expensive in history
May 25, 2022 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – The stakes are high as Canadian farmers take to the fields to plant 2022’s crop, which some are saying could find a place in the record books as “the most expensive ever.” On her family’s farm northeast of…
Manitoba premier tours flooded cottage country as waters continue to rise
May 24, 2022 by The Canadian PressWINNIPEG – Manitoba Premier Heather Stefanson has taken a helicopter tour of a flooded region in the eastern part of the province. Stefanson says the amount of water is overwhelming in Whiteshell Provincial Park, the latest area to be hit…
The window of opportunity to address increasing drought and expanding drylands is vanishing
May 10, 2022 by The Canadian PressBy Margot Hurlbert, Canada Research Chair, Climate Change, Energy and Sustainability, University of Regina – THE CONVERSATION This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information…
Unlicensed adjuster doesn’t fit the ‘expert’ exemption: Regulator
May 9, 2022 by David GambrillManitoba’s insurance regulator fined a former adjuster $500 and ordered him to pay partial investigation costs of $2,500 for acting as an adjustor without a licence and not, as the former adjuster claimed, as an ‘insurance expert’ helping claimants. Kenneth…
Manitoba government announces disaster aid relief as flood worries continue
May 9, 2022 by The Canadian PressWINNIPEG – The Manitoba government is offering financial aid for flood victims as wet weather threatens to raise rivers again. Infrastructure Minister Doyle Piwniuk says the province will activate a disaster financial assistance program that he expects will give out…
Beware the tax implications of unlicensed insurance
May 3, 2022 by Jason ContantIf you’re looking to place a risk through an insurer that’s not licensed to write business in Canada, it’s important to understand the requirements around filing federal and provincial taxes, as well as special broker licenses. Although direct placement with…