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Drones tackle Okanagan blaze as cool weather helps bring B.C. wildfires under control
August 11, 2022 by Jason ContantPENTICTON – Drones are helping map hot spots in a wildfire burning in British Columbia’s Okanagan region as cooler conditions helped firefighters elsewhere in the province bring blazes under control. Crews were making progress on several wildfires Wednesday, including a…
Condo insurance: Is market stabilization fleeting?
August 11, 2022 by Jason ContantCanada’s condo insurance market appears to have stabilized but the industry shouldn’t get lulled into the feeling that reforms are no longer needed, said Aaron Sutherland, the vice president of Insurance Bureau of Canada’s (IBC) Pacific region. Over the past…
Essential Newfoundland highway to stay open as out of control wildfires grow
August 10, 2022 by Sarah Smellie - THE CANADIAN PRESSST. JOHN’S, N.L. – Two out-of-control wildfires in central Newfoundland covered more than 200 square kilometres on Wednesday morning, and Environment Canada warned the flames could cover much of the island in smoke. Jeff Motty, the province’s forest fire duty…
Why some small business owners don’t have insurance
August 9, 2022 by Alyssa DiSabatinoAlmost 40% of small business owners say they don’t have a business insurance policy, and another 25% say they don’t think they need it, finds a recent survey of 222 small business owners and self-employed professionals in Canada. The…
Newfoundland’s largest wildfire in 60 years: what the P&C industry needs to know
August 8, 2022 by Alyssa DiSabatinoA long-burning forest fire in Newfoundland has charred over 10,800 hectares, but one claims professional says they’ve yet to see any claims come through, since the affected areas are not densely populated. The fire has been burning for close to…
Recent Alberta storms: Two Cat tornadoes and record-breaking hail
August 8, 2022 by Jason ContantTwo tornadoes in southern Alberta that damaged homes and vehicles in July have been declared catastrophes by Catastrophe Indices and Quantification Inc. (CatIQ), Insurance Bureau of Canada (IBC) confirmed to Canadian Underwriter Monday. The July 7 tornado near Bergen and…
Inflation creates opportunities for brokers to revisit risks with clients
August 8, 2022 by Philip PoradoRecent inflation trends notwithstanding, data from the past few quarters indicate premiums are stabilizing as the P&C industry eases out of the hard market, said Celyeste Power, executive vice president, strategic initiatives and advocacy at the Insurance Bureau of Canada…
Is the personal lines hard market abating?
August 4, 2022 by Jason ContantPersonal lines in Canada’s property and casualty insurance industry still appear to be in the grip of a hard market cycle, with both personal auto and property premium rates generally showing high, single-digit rate increases. On average, personal auto quoted…
Wildfire burning near ski resort forces evacuation of hundreds
August 3, 2022 by Jason ContantA growing wildfire in British Columbia’s Okanagan area has forced the evacuation of more than 300 properties in the ski resort community. These properties, including the Apex Mountain Ski Resort in Penticton, were ordered evacuated as the fire showed “aggressive…
2021 Cat frequency ties 2008 for second place
August 3, 2022 by Glenn McGillivraySevere weather cost Canadian insurers $2.25 billion in 2021, placing the year in the Top 5 for losses according to Catastrophe Indices and Quantification Inc. (CatIQ). Last year, 14 events with $25 million in claims or higher were declared nationwide,…
Intact provides update on RSA integration
July 29, 2022 by Alyssa DiSabatinoA year after RSA Insurance Group plc was acquired by Intact Financial Corporation, nearly all personal lines broker policies, and commercial lines small business and fleet policies in Canada, have been converted to Intact systems, the insurer reported. “I’m pleased…
ServiceOntario employees charged in relation to theft of hundreds of vehicles
July 29, 2022 by Noushin Ziafati - THE CANADIAN PRESSPolice say they’ve charged 28 people in Ontario and Saskatchewan, including several ServiceOntario employees, following an investigation into the fraudulent modification and sale of hundreds of stolen vehicles. In a news release Thursday, Ontario Provincial Police said they began an…