Canadian Underwriter

Topic Newfoundland & Labrador

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

Four chairs side-by-side, three blue and one white
News HRInsurersManagementNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsP.E.I.Personal AutoPersonal Home

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

Hurricane Lee approaches Atlantic Canada. Satellite image
News CatastrophesClaimsCommercialNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal AutoPersonal HomeProperty

Lee update: Where the damage is likely to happen

September 14, 2023 by David Gambrill

New 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

Satellite image of Hurricane Lee
News CatastrophesClaimsClaims ProfessionalsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Property

What to expect if Lee makes landfall in the Maritimes

September 12, 2023 by David Gambrill

It’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 Fiona Cloud Map Nova Scotia 3D Render Color
News CatastrophesClaimsInsurersNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.

Hurricane Lee: Why the Canadian P&C industry is watching

September 7, 2023 by David Gambrill

Hurricane 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

Man with a hoodie breaking into a car door
News AlbertaClaimsCommercial AutoInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebec

Auto theft’s impact on your clients’ premiums

August 29, 2023 by Alyssa DiSabatino

Premiums 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

News ClaimsNewfoundland & LabradorNova Scotia

What’s Franklin have in store for Atlantic Canada?

August 29, 2023 by Philip Porado

As Hurricane Franklin starts turning North, Atlantic Canada is watching and waiting to see whether it makes a direct hit, or if the storm will weaken before reaching Canada’s coast, as current maps suggest. Franklin is expected to cross the

Blocks with M&A written on them
News AlbertaBrokersCommercialInsurersMergers and AqcuisitionsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.

A busy summer for M&A at two of Canada’s largest brokerages

August 9, 2023 by Alyssa DiSabatino

Summertime 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

Rocket represents rising reinsurance premiums
News CatastrophesClaimsEnvironmentalInsurersLoss ControlNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.PropertyQuebec

What’s the future for Canada’s reinsurance rates?

August 2, 2023 by Alyssa Di Sabatino

New 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

Buildings are seen in floodwater following a major rain event in Halifax on Saturday, July 22, 2023. A long procession of intense thunderstorms have dumped record amounts of rain across a wide swath of Nova Scotia, causing flash flooding, road washouts and power outages
News AdjustersCatastrophesClaimsCommercialEnvironmentalInsurersNew BrunswickNewfoundland & LabradorNova ScotiaP.E.I.Personal AutoPersonal Home

Claims pouring in for record Nova Scotia rainstorm

July 24, 2023 by Alyssa DiSabatino

Adjusters 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

3D render and image composing: Topographic Map of Canada. Including country borders, rivers and accurate longitude/latitude lines.
News AlbertaB.C.BrokersCatastrophesClaimsCommercialEmerging RisksEnvironmentalInsurersManitobaNew BrunswickNewfoundland & LabradorNova ScotiaNunavutNWTOntarioP.E.I.Personal HomePropertySaskatchewanYukon

Brokers, insurers differ on the value of numerous flood products for home owners

July 4, 2023 by Alyssa DiSabatino

Canada’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