Canadian Underwriter

Topic New Brunswick

3D render of a topographic map of the US East Coast and the Gulf of St. Lawrence with the clouds from September 24, 2022's Category 4 Major Hurricane Fiona over Nova Scotia, Canada.
News CatastrophesCommercialEmerging RisksEnvironmentalInsurersNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal Home

P.E.I. utility seeks rate hike for $37M in post tropical storm Fiona losses

November 29, 2023 by Stephanie Taylor The Canadian Press

CHARLOTTETOWN — The privately owned electricity utility in Prince Edward Island wants ratepayers to cover $37 million in costs incurred during post-tropical storm Fiona in 2022. Maritime Electric, a subsidiary of Fortis, has applied to the Island’s regulatory commission for

Winter driving on a slippery road
News AlbertaB.C.ClaimsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebecSaskatchewan

Why more Canadian drivers are using winter tires

November 14, 2023 by Jason Contant

Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and Rubber Association of Canada

Hurricane Fiona
News B.C.ClaimsInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomePropertyQuebec

Coastal storms: Could U.S. scenario happen here?

November 1, 2023 by Philip Porado

Increasing intensity of hurricanes making landfall along the U.S. coastline, sparked largely by climate change, has resulted in significant insured losses for several years. And storms seem to be getting worse. That trend impacts insurability and, going forward, “property values

Parking lot sign of electric vehicle charging station
News B.C.BrokersCommercial AutoInsurersNew BrunswickNewfoundland & LabradorNova ScotiaOntarioPersonal AutoQuebec

Why auto insurance concerns might hinder electric vehicle adoption

October 26, 2023 by Alyssa DiSabatino

As governments gear up for a national push toward electric vehicles (EVs), Canadians are harbouring anxieties about their auto insurance policies.  Seventy eight per cent of Canadians are concerned about the cost of their insurance premiums on an electric vehicle,

Home with truck outside
News AlbertaB.C.ClaimsClaims Canada ArchiveManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeQuebecSaskatchewan

Where auto and home insurance rates are headed

October 24, 2023 by Jason Contant

Hard market conditions in personal lines across Canada are not slowing down in 2023 Q3, according to data from tech vendor Applied Systems. Auto and homeowner premiums are rising year-over-year in all provinces.  In 2023 Q3, personal auto premiums in

Aerial view a wetland stillwater surrounded by wildfire damage.
News AlbertaB.C.CatastrophesClaimsEmerging RisksInsurersLoss TrendsNew BrunswickNova ScotiaNWTProperty

P&C industry joins the $3-billion Cat club (again)

October 19, 2023 by David Gambrill

For the second year in a row, Canadian P&C insurers have become members of the unenviable $3-billion Cat club while paying out natural catastrophe damage losses. This year, damage losses were primarily so-called ‘secondary perils’ such as severe weather storms

IBAC president Traci Boland
News AlbertaB.C.BrokersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.QuebecSaskatchewanYukon

New president for national brokers’ association

October 18, 2023 by Alyssa DiSabatino

Traci Boland is the new president of the Insurance Brokers Association of Canada (IBAC). Boland is partner and manager at Ontario West Insurance Brokers and Bill Blaney Insurance Brokers. She holds more than over 20 years’ experience in the industry

Flooded road in New Brunswick
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Tropical storm Philippe bringing heavy rain to the Maritimes this weekend

October 5, 2023 by The Canadian Press

HALIFAX – Heavy rain and strong winds are in the forecast for the three Maritime provinces this weekend. Environment Canada has issued special weather statements for New Brunswick, Nova Scotia and Prince Edward Island, saying 50 millimetres of rain or

Flooded home in Nova Scotia
News CatastrophesEnvironmentalNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal Home

Weather-related home repairs highest in Atlantic Canada: HomeStars survey

September 26, 2023 by The Canadian Press

TORONTO – Homeowners in Atlantic Canada completed the highest number of emergency repairs due to weather-related events in the past year, according to HomeStars’ latest renovation report.   One-third of homeowners across Canada who renovated or repaired their properties in the

Fire at a metal recycling yard in Saint John, N.B.
News ClaimsClaims Canada ArchiveCommercialEnvironmentalNew BrunswickProperty

New Brunswick premier vows comprehensive review after massive Port Saint John fire

September 19, 2023 by The Canadian Press

SAINT JOHN, N.B. – A joint task force investigation into last week’s major fire at a scrapyard in Saint John, N.B., will consider whether the recycling plant should continue operating at the city’s port, says Premier Blaine Higgs. Higgs made

Four chairs side-by-side, three blue and one white
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Behind IBC’s recent executive shuffle

September 18, 2023 by Jason Contant

Amanda Dean is now interim vice president of Insurance Bureau of Canada’s (IBC) Ontario region, temporarily moving over from her role as IBC’s vice president of Atlantic Canada following a decision by IBC’s former Ontario vice president, Kim Donaldson, to

A downed tree is shown in a yard in Fredericton, N.B. during hurricane-turned post tropical storm Lee
News CatastrophesClaimsEnvironmentalInsurersLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.

Will Hurricane Lee cost as much as Fiona?

September 18, 2023 by Alyssa DiSabatino

Damage stemming from Hurricane Lee won’t be as major as last September’s Hurricane Fiona, insurance experts tell Canadian Underwriter.   “At more than $800 million in insured damage, Hurricane Fiona goes down as the costliest natural hazard-related insured loss event