Topic P.E.I.
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…
Human error may have caused data breach involving thousands in P.E.I.
July 11, 2023 by The Canadian PressCHARLOTTETOWN – Prince Edward Island says the personal information belonging to thousands of people may have been part of a privacy breach caused by human error. It says the information of 5,600 clients enrolled in a provincial employment program was…
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…
Large Canadian brokerage now operating coast to coast
June 28, 2023 by Jason ContantEditor’s Note: An original version of this article incorrectly identified Western Financial Group as Westland. Canadian Underwriter apologizes for the error. Western Financial Group now operates coast to coast following its full acquisition of Huestis Insurance and Associates Ltd.…
Want lower liability exposure for athletes? Don’t play sports in B.C.
March 21, 2023 by Alyssa DiSabatinoA recent Supreme Court of British Columbia case points to the difference between the standard of care for sports negligence claims in B.C. compared to the rest of Canada. In Miller v. Cox, the court found that a recreational soccer…
What’s next for Wawanesa after senior executive shuffle?
January 30, 2023 by Jason ContantAs Wawanesa Mutual Insurance Company changes its leadership structure with the appointment of three industry professionals to more senior leadership roles, industry veteran Carol Jardine — currently the insurer’s president of Canadian P&C operations — is also set to retire…