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Spring flooding in Baie Saint-Paul, Que.
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Search continues for two missing firefighters swept away during spring floods

May 2, 2023 by The Canadian Press

BAIE-SAINT-PAUL, Que. – The search continued Tuesday for two Quebec firefighters swept away in floodwaters northeast of Quebec City, as heavy rains washed out roads and cut off homes in several regions across the province. Specialized aerial and ground rescue

A dike breach in Ste-Marthe-sur-le-Lac, Que.
News CatastrophesClaimsEnvironmentalLegalPersonal HomeQuebec

Residents of Quebec town still struggle with aftermath of 2019 flooding

May 1, 2023 by Morgan Lowrie - THE CANADIAN PRESS

SAINTE-MARTHE-SUR-LE-LAC, Que. – Sylvie Bechard had only owned her little brick house for six months when her neighbour came banging on her door on the night of April 27, 2019. The dike holding back the Lake of Two Mountains had

Analyzing financial results
News ClaimsClaims Canada ArchiveCommercialCommercial AutoInsurersPersonal AutoPersonal HomeProperty

How the industry’s ROE is trending

April 26, 2023 by Jason Contant

The Canadian property and casualty insurance industry’s return on equity (ROE) last year dropped a few percentage points from the 17% to 18% level it was in 2021, but it’s still above the long-run average of 10.1%, a new industry

Economic downturn and recovery
News Emerging RisksLoss TrendsPersonal AutoPersonal HomeSupply Chain

Auto insurers take note: Why this economic downturn is so unusual 

April 25, 2023 by Jason Contant

Canada’s sluggish economy might be headed for a ‘shallow downturn,’ but it’s unique in the sense there’s also pent-up demand for motor vehicles, said BMO Financial Group chief economist Douglas Porter during an industry event last week.  “Anybody here who

Candles on kitchen counter during power outage
News ClaimsNewfoundland & LabradorPersonal HomeQuebec

Thousands of Quebecers lose power after generating station interruption  

April 25, 2023 by The Canadian Press

MONTREAL – Quebec’s electric utility says thousands are without power in the province after a problem at the Churchill Falls generating station in Labrador.   A Hydro-Quebec spokesman says the station experienced a sudden interruption today, which triggered protection mechanisms that

We've got ourselves a deal
News B.C.BrokersCommercialHRMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Navacord makes largest acquisition of the year

April 24, 2023 by Jason Contant

Navacord has made its fifth and largest transaction of the year with the acquisition of British Columbia-based SeaFirst Insurance Brokers, effective Apr. 1. With roots dating back to 1950, SeaFirst Insurance has since grown to one of the largest commercial

Severe flooding on the Ottawa River (for illustrative purposes only)
News ClaimsInsurersLegalPersonal HomePropertyQuebec

Insurer successfully defends flood exclusion in water damage endorsement

April 21, 2023 by David Gambrill

A Quebec home insurer successfully defended a flood exclusion to its policy’s water damage endorsement, on the basis that the insurer would not cover water damage that “occurs when a flood reaches the surface of the ground on the premises.”

Seismograph printing seismic activity records of a severe earthquake
News CatastrophesClaimsCommercialInsurersPersonal HomeProperty

PACICC urges feds to move on quake backstop

April 20, 2023 by David Gambrill

Canada’s insurance industry compensation fund for policyholders hopes the federal government’s 2023 budget commitment to a flood insurance program for high-risk properties will expedite discussions about the urgent need for a similar backstop for earthquake losses. “We will continue to

A leap of faith into 2023 for insurers seeking improved profits
News BrokersCatastrophesCommercialCommercial AutoConstructionPersonal AutoPersonal HomeProperty

Will Canada’s 2023 underwriting results track U.S. improvements?

April 19, 2023 by Philip Porado

Canadian insurers, like their U.S. counterparts, may see some better underwriting results this year. In the U.S., property and casualty (P&C) insurance industry underwriting results are likely to improve during 2023, in response to significant premium increases in underperforming automobile

Torrential rain in Montreal
News EnvironmentalPersonal HomeQuebec

Spring flooding: Montrealers warned to pack emergency kits as water levels rise

April 17, 2023 by The Canadian Press

MONTREAL – Rain is in the forecast this week across Quebec and officials are monitoring lakes and rivers at risk of flooding. Martin Guilbault with Montreal’s fire department says the city is on alert as the risk of flooding is

Business merger and acquisition M&A concept
News AlbertaB.C.BrokersCommercialInsurersMergers and AqcuisitionsOntarioPersonal AutoPersonal Home

M&A transactions see Canadian and U.S. brokerages expand nationally

April 13, 2023 by Alyssa DiSabatino

M&A activity this month has seen two major Canadian brokerages—Westland and Brokerlink—expanding their practices nationally, and one U.S.-based brokerage entering the Canadian market.  B.C.-based Westland Insurance expanded its P&C practice with three acquisitions across Ontario, Alberta and Manitoba in April. 

People survey the damage around their home in Montreal after the ice storm.
News AdjustersCatastrophesClaimsClaims Canada ArchiveClaims ProfessionalsEnvironmentalOntarioPersonal AutoPersonal HomeQuebecSupply Chain

How recent extreme weather compares to 1998 Quebec ice storm

April 12, 2023 by Jason Contant

The storm that struck Ontario and Quebec — leaving some Quebecers without power for more than a week — was large, but it was nothing compared to the infamous 1998 Quebec ice storm, industry professionals said. Catastrophe Indices and Quantification