Topic Newfoundland & Labrador
How insurers can manage losses as NatCat events ramp up
December 18, 2023 by Philip PoradoWhatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars…
Intact Insurance names president
December 15, 2023 by Jason ContantIntact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in…
Can Canada’s P&C industry catch up to NatCats?
December 14, 2023 by Philip PoradoIn much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents…
How this year’s hurricane season ranks
December 1, 2023 by Jason ContantThe 2023 Atlantic hurricane season has officially come to an end, ranking fourth for the most named storms in a year since 1950. The above-normal season, which officially ended Nov. 30, saw 20 named storms, including seven hurricanes and three…
P.E.I. utility seeks rate hike for $37M in post tropical storm Fiona losses
November 29, 2023 by Stephanie Taylor The Canadian PressCHARLOTTETOWN — 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…
Why more Canadian drivers are using winter tires
November 14, 2023 by Jason ContantWinter 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…
Coastal storms: Could U.S. scenario happen here?
November 1, 2023 by Philip PoradoIncreasing 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…
Why auto insurance concerns might hinder electric vehicle adoption
October 26, 2023 by Alyssa DiSabatinoAs 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,…
Where auto and home insurance rates are headed
October 24, 2023 by Jason ContantHard 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…
New president for national brokers’ association
October 18, 2023 by Alyssa DiSabatinoTraci 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…
Weather-related home repairs highest in Atlantic Canada: HomeStars survey
September 26, 2023 by The Canadian PressTORONTO – 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…
Behind IBC’s recent executive shuffle
September 18, 2023 by Jason ContantAmanda 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…