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Condo corporation insurance? Unit insurance? Too many condo owners don’t know the difference

February 24, 2021 by David Gambrill

Brokers in Quebec have ample opportunity to educate their clients about how condo insurance works, according to the results of a recent survey commissioned by Insurance Bureau of Canada. One key source of confusion may sound familiar to brokers elsewhere

News B.C.ClaimsPersonal Home

Probe points to discarded smoking materials as likely cause of B.C. apartment building fire

February 24, 2021 by The Canadian Press

ABBOTSFORD, B.C. – Improperly discarded smoking materials likely played a part in a recent fire in an Abbotsford, B.C., apartment building that left more than 100 people homeless. Assistant chief Ron Hull, with Abbotsford Fire Rescue Services, says the extent

News EnvironmentalPersonal Home

3 Canadian cities more prepared for flood now than they were five years ago

February 19, 2021 by Jason Contant

There’s good and bad news when it comes to the flood preparedness of 16 major Canadian cities. The bad news is that the average level of flood preparedness has remained stagnant from 2015 to 2019-20, showing a considerable margin for

News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionPersonal HomePropertySupply Chain

Property restoration space has ‘big capacity’ issue: Brindamour

February 19, 2021 by Greg Meckbach

Intact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade

News B.C.CatastrophesClaimsInsurersPersonal Home

How to increase the take-up of earthquake insurance

February 18, 2021 by Jason Contant

When broader government assistance is available for earthquake insurance, the take-up rates for private earthquake insurance appear to be suppressed, according to a new study on the difference between earthquake insurance rates in B.C.’s Lower Mainland and neighbouring Washington State

News AdjustersAlbertaCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsConstructionInsurersLoss TrendsPersonal HomePropertySupply Chain

What’s making it harder to estimate property Cat claims

February 17, 2021 by Greg Meckbach

Recent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in

News BrokersClaimsCyberEmerging RisksInsurersPersonal AutoPersonal HomeTrusted Advisor

How brokers can help personal cyber go mainstream

February 16, 2021 by Adam Malik

Although it will take some time, selling personal cyber insurance will come as naturally to brokers as selling home and auto insurance to customers, an expert predicts. Until that happens, however, it’s up to brokers to make sure that personal

News AlbertaB.C.ClaimsClaims Canada ArchiveCommercialInsurersLoss TrendsPersonal HomeProperty

One knock-off effect of rising condo deductibles

February 16, 2021 by Greg Meckbach

A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000

News BrokersCommercialCommercial AutoEducationEmerging RisksEnvironmentalManagementPersonal AutoPersonal HomeTrending

Brokerage executives to examine COVID impact today and beyond

February 8, 2021 by Adam Malik

Brokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as

News BrokersCommercialMergers and AqcuisitionsOperationsPersonal AutoPersonal Home

Deal Tracker: The latest in brokerage M&A

February 4, 2021 by Jason Contant

The number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had

News ClaimsClaims Canada ArchiveLoss TrendsPersonal HomeProperty

Where Canada sits with high-risk flood insurance pool

February 3, 2021 by Greg Meckbach

Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation

News AlbertaB.C.BrokersClaimsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoPersonal HomeQuebecSaskatchewan

Canadian auto and property insurance rates headed in opposite directions

February 1, 2021 by Jason Contant

Average personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both