Topic New Brunswick
Lee update: Where the damage is likely to happen
September 14, 2023 by David GambrillNew Brunswick and Nova Scotia are bracing for flooding and high winds as Hurricane Lee approaches landfall in Atlantic Canada as a Category 1 storm. Currently showing wind speeds of 155 km/h, Lee is expected to become a strong tropical…
What to expect if Lee makes landfall in the Maritimes
September 12, 2023 by David GambrillIt’s increasingly likely Hurricane Lee will make landfall in Atlantic Canada this weekend as either a strong tropical storm or a weak Category 1 hurricane. The Canadian Hurricane Centre and AccuWeather report they are increasingly confident Hurricane Lee will hit…
Hurricane Lee: Why the Canadian P&C industry is watching
September 7, 2023 by David GambrillHurricane Lee is strengthening into a powerhouse Category 5 storm, and some preliminary scenarios suggest it could hit Atlantic Canada as a tropical storm sometime next week, AccuWeather is forecasting. “Lee poses a risk to people from the northern Caribbean…
Auto theft’s impact on your clients’ premiums
August 29, 2023 by Alyssa DiSabatinoPremiums for commonly stolen vehicles have increased between 25% and 50% over the last two years, according to data from RatesDotCa. Insurers are bumping up rates after the Canadian P&C insurance industry paid out a record $1 billion for auto…
A busy summer for M&A at two of Canada’s largest brokerages
August 9, 2023 by Alyssa DiSabatinoSummertime M&A has not been slowing down for BrokerLink and Westland Insurance who have respectively completed three and two more deals in August. For BrokerLink, the three latest deals account for a total of twelve in 2023 thus far, focused…
What’s the future for Canada’s reinsurance rates?
August 2, 2023 by Alyssa Di SabatinoNew risks emerging in Canada are leading reinsurers to increase premiums, industry experts have told Canadian Underwriter. Although U.S. damage losses last year far outweighed Canada’s, contributing significantly to escalating reinsurance prices, insured NatCat damage in Canada in 2022 was…
Claims pouring in for record Nova Scotia rainstorm
July 24, 2023 by Alyssa DiSabatinoAdjusters are beginning to see claims pour in after thunderstorms dumped record amounts of rain on Nova Scotia Friday. Torrential downpours dropped over two months’ worth of rain (between 200 and 250 millimetres) in about 24 hours on Halifax, Nova…
Fight for funding to protect land link between N.S. and N.B. goes to court
July 21, 2023 by The Canadian PressHALIFAX – The Nova Scotia government is asking the province’s Court of Appeal to determine who has jurisdiction over the works that protect a vital link between the province and New Brunswick. In a court document filed Wednesday, lawyers for…
Large Canadian brokerages announce latest M&A deals
July 13, 2023 by Jason ContantCanadian P&C brokerage merger and acquisition activity continues to burn red-hot in the second half of 2023, with large brokerages BrokerLink and Acera Insurance announcing a combined three deals recently. BrokerLink acquired Ontario-based Donnell Insurance Brokers Ltd. and New Brunswick-based…
Brokers, insurers differ on the value of numerous flood products for home owners
July 4, 2023 by Alyssa DiSabatinoCanada’s property and casualty insurance brokers have long maintained the need for a unified flood map, but insurers want to compete on their proprietary flood maps, and the ongoing differences between brokers and their insurance partners on this point became…
Two insurance agencies rebrand as belairdirect
July 4, 2023 by Jason ContantIntact Financial Corporation subsidiary belairdirect has announced that agencies Johnson Insurance and Anthony Insurance will both rebrand as belairdirect. Beginning this fall, the car and home division of Johnson Insurance will gradually rebrand to belairdirect, with the group benefits and…
N.S. threatens court action over dike system upgrade
June 29, 2023 by The Canadian PressHALIFAX – Nova Scotia’s premier is threatening to take the federal government to court over funding to protect a vital land corridor linking his province and New Brunswick. Tim Houston wants Ottawa to fund the entire cost – estimated at…