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Lightning strike during summer storm
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Lightning starts 136 wildfires over seven days in Yukon: fire information officer

July 8, 2022 by The Canadian Press

WHITEHORSE – A Yukon information officer says firefighters in the territory have been bolstered by crews and resources from British Columbia to help fight a growing number of wildfires. Mike Fancie says in a news release Wednesday that about 60

Inflation going up in Canada
News ClaimsClaims Canada ArchiveCommercialCommercial AutoConstructionPersonal AutoPersonal HomeProperty

What the latest inflation measures mean for insurers

July 7, 2022 by Philip Porado

Several inflation drivers have increased claims costs for insurers since 2020, but some are less aggressive than expected and a few have yet to register significant impacts, a June report from AON found. Insurers can expect it to cost more

A pair of glasses, a small model home, a level tool, a measuring tape, a set of pens and two construction hats sit atop a blueprint of a house on a desk.
News AlbertaB.C.InsurersOntarioPersonal Home

Why brokers should ask their clients about home renos

July 6, 2022 by Alyssa DiSabatino

Canadians made major renovations to their homes during the pandemic, and over 14% of those who renovated stated they did so on an impulse during the pandemic — but are policyholders telling their insurers about these material changes?  Not every

Digitally generated modern and minimalist family house/villa in Nature with garage and a terrace.
News CatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsInsurersLoss TrendsPersonal Home

Why home insurers are more exposed to NatCats after the pandemic

July 4, 2022 by David Gambrill

When the pandemic, remote work and a hot housing market combined to cause more Canadians to buy homes in suburban and rural areas, home insurers may have become more exposed to NatCat losses, data from a recent Aviva study found

Prospector panning for gold in the old west.
News BrokersCommercialCommercial AutoInsurersPersonal AutoPersonal HomeTrusted Advisor

How the pandemic changed broker prospecting for new business

June 30, 2022 by David Gambrill

High workloads during the pandemic had an impact on brokers’ ability to prospect for new business, Canadian Underwriter‘s 2022 National Broker Survey found. The survey asked more than 250 brokers nationwide in February about challenges to the broker distribution channel.

Flooded Calgary Stampede grandstand
News CatastrophesEnvironmentalInsurersPersonal Home

Should Canada’s flood insurance program combine NFIP and Flood Re?

June 29, 2022 by Jason Contant

Canada could benefit from a flood protection program combining the features of the U.S. National Flood Insurance Program (NFIP) and U.K.’s Flood Re, says credit rating agency DBRS Morningstar, but that view is not entirely shared by Insurance Bureau of

Angelique Beauchemin, 100, looks at erosion on her property on the shore of the St. Lawrence River
News ClaimsPersonal HomeQuebec

Quebec homeowners say Ottawa must address decades of erosion caused by ship traffic

June 28, 2022 by Morgan Lowrie - THE CANADIAN PRESS

VERCHERES, Que. – Every year, 100-year-old Angelique Beauchemin watches more of her land crumble into the St. Lawrence River. From her home along a busy stretch of river in Vercheres, Que., on Montreal’s South Shore, she watches waves from passing

Jurors sitting in a court room box
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Will rocketing consumer prices spark social inflation?

June 24, 2022 by Philip Porado

While consumers are paying close attention to inflation’s impact on their wallets, insurers should be keeping an eye on social inflation – and recognize the two are often linked. “There’s quite a distinction between the impact of what I would

The burned-out remains of businesses and properties destroyed by the Lytton wildfire
News B.C.ConstructionPersonal Home

B.C. commits $21 million to help rebuild infrastructure in Lytton after fire

June 24, 2022 by The Canadian Press

VICTORIA – The fire-ravaged community of Lytton, B.C., is getting $21 million from the provincial government to help it rebuild essential infrastructure and services. The Public Safety Ministry says in a statement the new funding will support priorities identified in

Arrows pointing to profit and loss as if it was a road sign.
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What’s to blame for P&C industry’s quarterly profitability decline?

June 23, 2022 by Canadian Underwriter Staff

At first glance, 2022 Q1 results for Canada’s P&C industry would support the idea that high profits aren’t sustainable. Industry-wide return on equity dipped to 11.5% in 2022 Q1, compared to 19% in 2021 Q1. But the profitability decline stemmed

A landslide destroyed a house and forced evacuations in Saguenay, Que.
News ClaimsPersonal HomeQuebec

City in Quebec renews state of emergency for neighbourhood facing landslide threat

June 23, 2022 by The Canadian Press

SAGUENAY, Que. – Officials in the City of Saguenay, Que., have renewed a state of emergency for a neighbourhood under threat of another landslide. On Wednesday, Quebec Premier Francois Legault toured the area and met with residents, announcing the government

A landslide destroyed a house and forced evacuations in Saguenay, Que.
News ClaimsPersonal HomeQuebec

Quebec extends state of emergency in Saguenay because of landslide threat

June 21, 2022 by The Canadian Press

MONTREAL – Quebec is extending a state of emergency in a city north of Quebec City where a neighbourhood is threatened by landslides. Public Security Minister Genevieve Guilbault tweeted late Monday afternoon that she signed a decree allowing Saguenay to