Topic Personal Home
Insurer has no duty to defend parents named in negligence lawsuit
January 9, 2023 by David GambrillB.C.’s Supreme Court has upheld that an insurer is not obligated to defend parents in a lawsuit alleging negligence for failing to stop their child from inflicting harm on others. In Reeves v Co-Operators General Insurance Company, Bentley Reeves and…
How two of Canada’s largest P&C brokerages closed 2022
January 9, 2023 by Jason ContantWestland Insurance Group and BrokerLink ended 2022 with a bang, closing several merger and acquisition deals in December and bringing combined yearly transactions to more than 50 acquisitions. Westland announced in December the acquisition of Nova Scotia-based Gateway Insurance Group…
Can the P&C industry navigate these 3 problems in 2023?
January 9, 2023 by David GambrillThanks to supply chain disruptions, labour shortages and inflation, insurance policyholders face longer and more expensive repairs. To address that, insurance industry execs said, Canada’s P&C industry needs to up its communications game during the claims process. P&C insurance professionals…
How much did December’s ‘bomb cyclone’ cost Canadian insurers?
January 5, 2023 by Jason ContantThe ‘bomb cyclone’ that ripped through eastern Canada during the holiday season has been declared a catastrophe, Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Thursday. The winter storm brought heavy snowfall, strong winds and blizzard conditions to…
Defining vacancy: Why the court upheld insurer’s denial of a $100K water damage claim
January 4, 2023 by David GambrillAn insurance policy exclusion for vacancy applies, even when an insured has arranged for people to look after the vacant property on a daily basis, so long as there is no intention to inhabit the place again, the Ontario Superior…
How the upcoming recession will affect your home and auto clients
January 3, 2023 by Jason ContantWith a potential recession on the horizon, consumers will likely purchase fewer big-ticket items such as cars and homes. Of course, this also means a decrease in demand for the Canadian P&C insurance industry. “Cars can be seen as a…
B.C. flooding potential persists, despite end of official warnings
December 28, 2022 by Canadian PressVANCOUVER – No weather warnings or watches were posted across British Columbia for the first time in weeks, but Environment Canada says more heavy rain is on the way while flood watches are still up for large parts of Vancouver Island…
How switching appliances can shorten claims cycles
December 15, 2022 by Philip PoradoSupply chain problems aren’t going away any time soon for insurance adjusters. Home improvement retailers and warehouses have been plagued by empty shelves since the first year of the COVID-19 pandemic. And goods scarcities for everything from lumber to La-Z-Boys…
Why claims adjusters face a labour force double whammy
December 14, 2022 by Philip PoradoSolving the P&C industry’s talent recruitment difficulties will be a key focus for 2023, according to industry respondents to Canadian Underwriter’s annual Executive Outlook survey. While respondents focused mainly on the needs of the broking and underwriting business segments, the…
P.E.I. utility Maritime Electric estimates cost of Hurricane Fiona
December 13, 2022 by The Canadian PressCHARLOTTETOWN – Prince Edward Island’s electric utility says it will cost about $35 million to repair damage to the company’s distribution system caused by post-tropical storm Fiona. A spokesperson for Maritime Electric said that estimate is based on invoices received…
Alberta’s largest-ever earthquake: Will it happen again?
December 8, 2022 by Jason ContantA rare 5.6-magnitude earthquake that’s been reported as the largest ever recorded in Alberta could occur again, suggested Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction. Earthquakes Canada reported the moderate earthquake near the hamlet of Reno…
Which insured perils are of most concern to your clients?
December 5, 2022 by David GambrillWinter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe…