Topic Nova Scotia
What’s Hurricane Fiona’s projected path into Canada?
September 19, 2022 by Jason ContantHurricane Fiona could strike Atlantic Canada with tropical storm-force winds or stronger by Saturday, according to projections from the hurricane forecasters in Canada and the U.S. An advisory issued 5 a.m. AST on Monday by the U.S. National Hurricane Center…
Busy month in M&A for BrokerLink, Westland
September 14, 2022 by Jason ContantBrokerLink and Westland Insurance Group announced a series of brokerage M&A deals in September, including the acquisitions of a total of four brokerages and one employee benefits firm between them. BrokerLink announced the acquisition of J.W. Davis Insurance Brokers and…
Feds’ task force reveals preferred flood insurance models
August 30, 2022 by Alyssa DiSabatinoA federal government task force on flood insurance is leaning toward the public insurer and layered public insurer models of flood insurance programs for Canada. The public insurer model features a Crown corporation that underwrites comprehensive flood insurance through the…
Number of impaired drivers issues alarm bell for insurer
August 29, 2022 by Alyssa DiSabatinoSaskatchewan Government Insurance statistics show a record this year in impaired driving offences. The province’s law enforcement stopped 497 impaired drivers, including 292 drivers who were charged with Criminal Code offences this July, according to SGI’s Traffic Safety Spotlight. “While…
Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?
August 26, 2022 by Philip PoradoCanadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need…
Is the personal lines hard market abating?
August 4, 2022 by Jason ContantPersonal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted…
Will this week’s weather events result in Cat damages?
July 25, 2022 by Alyssa DiSabatinoWhile Europe is experiencing record-breaking heat waves, western Canada had some severe heat and storms of its own between July 16-20. And although they were expected to have caused millions in damage, it won’t breach catastrophe territory, according to Aon’s…
The factors driving increased car rental times in Canada
July 25, 2022 by Jason ContantLength of rental (LOR) for collision replacement-related rentals in Canada jumped nearly six days year-over-year, driven in part by ever-changing parts availabilities and repair backlogs, said car rental agency Enterprise Rent-A-Car. The overall Canadian LOR was 16 days in 2022…
Are businesses covered for a telecom’s “maintenance oops”?
July 11, 2022 by Alyssa DiSabatinoDespite Interac payment systems and phone lines being down, most businesses will not have insurance coverage for any type of income loss as a result of the national Rogers outage on Friday, says one insurance expert. The outage, which…
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.…
Facility’s new approach to prevent truckers from “gaming the system”
June 6, 2022 by David GambrillNova Scotia has approved Facility Association’s approach to rating commercial auto in a way that trucking operators cannot “game the system” and get Nova Scotia’s lower premium rates when they drive more extensively in other Canadian provinces. Essentially, a “surcharge…
Could hurricanes in Canada worsen?
June 1, 2022 by Alyssa DiSabatinoThe trend of above-average hurricane seasons is expected to continue this year and Canadian insurers should heed this warning by preparing Atlantic businesses for more severe hurricanes, according to Allianz Global Corporate & Specialty’s Atlantic Hurricane Season Outlook 2022. “Although Canada…