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Navacord’s first deal of the year
February 29, 2024 by Jason ContantCommercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance. Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press…
As planet warms, ferocious snowfalls like the one that hit Nova Scotia could increase
February 26, 2024 by Hina Alam, The Canadian PressATLANTIC CANADA – Forecasters say a warming global climate could actually cause some parts of Canada to see colder conditions, including heavy snowfalls like the one that hit parts of the Maritimes this week. There’s a direct relationship between the…
Managing insurer concerns about knob-and-tube wiring
February 21, 2024 by Brian Cook, PowerCheckMost insurers see homes with knob-and-tube wiring, aluminum wiring, and 60-amp service as high-risk, which prevents clients with those systems from easily obtaining home insurance. But are wiring types and service levels really the culprits causing fires? I’ve examined electrical…
Warm and dry weather prompts Alberta to declare an early start to wildfire season
February 21, 2024 by The Canadian PressEDMONTON – The Alberta government has declared an early start to the 2024 wildfire season in the face of low snowpacks and forecasts of dry weather to come. Alberta Forestry and Parks Minister Todd Loewen said Tuesday the season is…
Co-operators acquires home inspection firm
February 16, 2024 by Jason ContantThe Co-operators has entered the home services line of business with the acquisition of the parent company of home inspection firm Carson Dunlop & Associates Ltd. Co-operators Financial Services Limited, a wholly-owned subsidiary of The Co-operators Group Limited, announced the…
Making clients valuable to your brokerage for the long term
February 15, 2024 by Adam MitchellWhen it comes to ensuring clients have the right products and coverage levels, life insurance brokers are doing things much better than personal lines brokers. But there’s no reason the P&C industry can’t operate at that level. You can’t sell…
Blizzard-like conditions expected in Newfoundland
February 15, 2024 by The Canadian PressSchools in Newfoundland’s capital are closed today, due to the threat of inclement winter weather. The head office for NLSchools in St. John’s will be open, but officials say not until 11:00 a.m. local time. This week’s hazardous winter conditions…
Cats scratch Intact’s bottom line in 2023
February 14, 2024 by Alyssa DiSabatinoIntact Financial Corporation (IFC) has reported elevated catastrophe losses in 2023, raising its combined operating ratio (COR) by 4.3 points since 2022. “The past year has been challenging for society, particularly in the face of numerous natural disasters,” said Charles…
Are your clients adding water endorsements to home policies?
February 14, 2024 by Jason ContantAn increasing number of your clients are expressing interest in water endorsements on home insurance policies, according to data from rate aggregator Rates.ca’s home insurance quoter. The rate comparison website found 36% of all home insurance quotes on the tool…
The post-pandemic broker E&O trend, and how to prevent it
February 13, 2024 by Alyssa DiSabatinoMany clients’ commercial property limits aren’t being adjusted for inflation, and that’s unduly exposing brokers to errors and omissions (E&O) claims, one commercial litigation lawyer observed. Inflationary increases are typically applied to all building values upon renewal. The problem is,…
Lax e-scooter insurance spells trouble for Canadian municipalities
February 12, 2024 by Philip PoradoBased on what’s taking place in other jurisdictions, lawsuits over accidents involving e-scooters will likely rise in Canada – particularly in Alberta, British Columbia and Ontario, where some municipalities permit their use on public streets, park trails, or sidewalks. Municipalities…
Hub’s latest Ontario brokerage acquisition
February 12, 2024 by Jason ContantHub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater…