Topic P.E.I.
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.…
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…
How to speed up claims response for NatCats
May 25, 2022 by Yasser Korany, Mario Delorme and Mazen HabashExtreme weather events have become common, some bringing unprecedented levels of destruction to structures and facilities, overwhelming owners, property managers and insurers. In response, nearly all major insurers have created centralized Cat units dedicated to handling claims arising from extreme…
What cottagers may overlook when it comes to seasonal insurance
May 17, 2022 by Alyssa DiSabatinoWith the May long weekend just around the corner, many Canadians will be packing their bags and heading up to the cottage, but a post-pandemic surge of demand may mean a lot of cottage rentals, and some important points of…
Beware the tax implications of unlicensed insurance
May 3, 2022 by Jason ContantIf you’re looking to place a risk through an insurer that’s not licensed to write business in Canada, it’s important to understand the requirements around filing federal and provincial taxes, as well as special broker licenses. Although direct placement with…
A car crashes in Ontario: Why Canadian auto insurers pay attention
April 13, 2022 by Daniel StrigbergerPeople love to visit Ontario. Unfortunately, some of them get into car accidents. Why should a visitor’s auto insurer care about accidents in Ontario? Because when a non-resident is involved in an auto accident in the province, their insurers will…
What Canadians can expect of future hurricane seasons
April 7, 2022 by David GambrillAtlantic Canadians can expect to see more and increasingly intense hurricanes, as sea surface temperatures continue to warm up as a result of climate change. “Warmer sea surface temperatures fuel stronger hurricanes,” Swiss Re Canada CEO Monica Ningen observed during…
Another winter storm batters Atlantic Canada as officials warn of widespread outages
February 4, 2022 by Danielle Edwards - THE CANADIAN PRESSHALIFAX – A large, slow-moving storm has descended on Atlantic Canada, forcing the closure of schools and government offices, as parts of Nova Scotia brace for an extended period of freezing rain. Environment Canada has warned that widespread power outages…
Powerful winter storm sweeps Maritime provinces, creating treacherous conditions
January 31, 2022 by The Canadian PressHALIFAX – A powerful winter storm swept across the Maritimes on Saturday, blanketing much of the region in heavy, blowing snow and causing road closures, power outages and widespread cancellations. Drivers were urged to avoid travel amid blizzard-like conditions, and…
Weather warnings: Residents of the Maritimes bracing for another major winter storm
January 28, 2022 by The Canadian PressHALIFAX – Environment Canada is warning residents of the Maritimes to prepare for power outages as a major winter storm – the fourth this month – is expected to lash the region Saturday with blowing snow, freezing rain and howling…