If you are hanging out the window of your car trying to stop a thief from stealing it, and you are injured while falling from the open window after being dragged for 40 feet, you are not an “occupant” of…
Hurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also…
A B.C. driver claiming the public auto insurer improperly found him at fault for a collision in a Starbucks’ drive-through has lost his case that he wasn’t at fault because none of the line-up lanes had priority. The Civil Resolution…
Insuring an electric vehicle (EV) may be cheaper than a gasoline vehicle, but it depends on a multitude of factors that varies for each consumer and the vehicle they’re comparing, according to rate comparison site RatesDotCa. “Many EVs come with…
Ontario’s Superior Court has awarded Aviva Canada security of costs of $85,000 in a case in which the insurer has been named in a $5-million lawsuit launched by a warranty provider that has gone out of business. Umbrella Warranty’s claim,…
Recent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of…
P&C brokerage merger and acquisition activity in Canada remains strong and healthy, as evidenced by the number of deals announced in just the past couple of weeks. Those deals involve brokerages that include Westland Insurance Group, BrokerLink, Western Financial Group,…
BrokerLink has made its 19th and 20th acquisitions of 2022 with the purchase of two Ontario brokerages. The Intact Financial Corporation subsidiary said L&M Dallaire Insurance Ltd. and Cryderman Insurance Brokers Ltd. joined BrokerLink effective Oct. 1. Both brokerages offer…
Definity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),…
Insurers across Canada gave drivers a break on their premiums during pandemic lockdowns to reflect a sharp reduction in the number of kilometres they were driving each month. But, even as 20% of Canadians report they’re driving to work more…
Hurricane Ian’s Florida landfall last week and subsequent return to the Carolinas means it’s shaping up to be one of the costliest storms in U.S. history. But, while the storm that arrived on the heels of Hurricane Fiona caused massive…
Not long ago, hurricane season began very quietly with no North Atlantic hurricanes in all of August. But now it appears 2022 could produce a record-breaking hurricane. Property data provider CoreLogic is predicting Hurricane Ian could be the costliest Florida…