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Surf washes over a beach on Nova Scotia's Atlantic coast.
News CatastrophesEnvironmentalInsurersLegalLoss TrendsNova ScotiaPersonal Home

P&C industry’s input on coastal protection

April 6, 2022 by Alyssa DiSabatino

Nova Scotia community and industry stakeholders have shared their input on the Coastal Protection Act, and an Insurance Bureau of Canada representative says the financial case for supporting the act is clear. Passed in 2019, the legislation aims to restrict

A man in a suit uses his hand to segregate a single red wooden block from a group of five other blocks.
News BrokersClaimsInsurersPersonal AutoPersonal HomeProperty

Why these four P&C rating factors may be racially biased

April 5, 2022 by Alyssa DiSabatino

Four commonly used rating factors in personal lines insurance — credit-based insurance scores, geographic location, homeownership, and motor vehicle records — may be affected by racially biased policies and practices, a new research paper finds. Research by the Casualty Actuarial

Data moving across a company
News CommercialCommercial AutoInsurersOperationsPersonal AutoPersonal HomeProperty

CSIO calls APIs for policy inquiries ‘foundational’

April 4, 2022 by Canadian Underwriter Staff

Recent publication of API standards for policy inquiries for personal auto, habitational, individually rated commercial automobile (IRCA) and commercial general liability (CGL) are the foundational use cases to begin improving carrier and broker connectivity communications. “These 24 policy inquiry use

Water stain on a ceiling
News B.C.ClaimsLiabilityPersonal Home

Curious case of a condo water leak shows importance of complete evidence

April 1, 2022 by Jason Contant

British Columbia’s Civil Resolution Tribunal (CRT) has ordered a strata corporation to immediately reverse a charge of nearly $10,000 to a strata lot owner after finding the unit’s owner was not responsible for a water leak and resulting expenses. In

Rain and hail flows down from a black roof.
News AlbertaB.C.Emerging RisksInsurersPersonal Home

How to reduce hail damage costs

March 28, 2022 by Alyssa DiSabatino

One way homeowners and insurers can reduce annual hail damage is to use impact-resistant asphalt shingle roofs instead of standard shingles, finds a new report.     A new Institute for Catastrophic Loss Reduction benefit-cost analysis report shows annual hail

Traffic accident between red and green toy cars
News InsurersPersonal AutoPersonal HomeSaskatchewan

Top 5 wild and wacky insurance fraud claims

March 22, 2022 by Jason Contant

Saskatchewan Government Insurance (SGI) saved approximately $6 million in 2021 from “hundreds of people” attempting to make fraudulent claims, the public insurer reported last week. “SGI’s Special Investigations Unit (SIU) investigates wild and wacky insurance claims, many of which turn

Portrait of Asia Businessman sitting and working hard on the table with Trading graph on the cityscape over front of computer screen in work place at late with serious action
News BrokersCommercialEmerging RisksPersonal AutoPersonal Home

Top 3 concerns of Canadian brokers

March 21, 2022 by David Gambrill

Canada’s hard market continues to be the Number 1 concern of brokers right now, but with the end of many COVID restrictions, brokers are starting to worry more about the growth of direct-to-consumer distribution models. Market consolidation is slowly but

Rural family home fully engulfed in flames.
News ClaimsClaims ProfessionalsInsurersLegalOntarioPersonal Home

Why this home insurer wasn’t allowed to use a replacement cost overpayment to set off a contents claim

March 17, 2022 by David Gambrill

A home insurer lost its bid to set off a contents claim using the difference between the Guaranteed Replacement Cost (GRC) and the depreciated value of a home that was rebuilt after a fire. The Ontario Superior Court allowed this

Young women taking a break during moving
News ClaimsInsurersPersonal Home

Are your clients telling you about their tenants?

March 11, 2022 by Jason Contant

If your client has rented out part of their home, there’s nearly the same likelihood that they’ve told their insurer as not, according to a recent survey from RatesDotCa and BNN Bloomberg. The survey of 1,511 Canadians found that 42%

Wildfire in Lytton, B.C.
News B.C.CatastrophesClaimsPersonal Home

Wildfire debris removal begins in Lytton

March 8, 2022 by Dirk Meissner - THE CANADIAN PRESS

VICTORIA – The first signs of a long-awaited start of rebuilding in fire-ravaged Lytton, B.C., are expected to begin Tuesday, says the village’s mayor.   Jan Polderman said Monday that work to remove debris from the wildfire that destroyed much of

Business development and expansion concept
News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickNova ScotiaOntarioOperationsPersonal AutoPersonal Home

BrokerLink execs discuss expansion strategy

March 4, 2022 by Jason Contant

BrokerLink’s M&A strategy remains focused on regions where it currently does business and is not looking to get into other verticals at the moment, senior executives at the brokerage tell Canadian Underwriter. “The focus continues to be Ontario, Alberta, and

Inflation Meter
News BrokersClaimsCommercialConstructionEmerging RisksInsurersOperationsPersonal AutoPersonal Home

How inflation could prolong the hard market

February 25, 2022 by David Gambrill

Inflation could prolong the hard market in Canada’s property and casualty lines, brokers caution. RMS Canada reports that inflation will hit 5% in 2022 before approaching 3% by the year’s end. “Persistent inflation is primarily due to supply constraints and