Topic Personal Home
Client dogged by $1,277 uninsured water damage remediation bill
April 14, 2021 by Greg MeckbachA British Columbia client who runs a dog kennel business out of her home is liable for some water damage remediation costs that her insurer did not cover because they relate to business and not personal use of the property.…
Households expect return to pre pandemic spending within a year, Bank of Canada says
April 12, 2021 by Jordan Press, The Canadian PressOTTAWA — Canadian household spending will eclipse earnings in the coming months as vaccinations increase and uncertainty from the pandemic recedes, The Bank of Canada said in a report released Monday. The central bank says the gap between spending and…
How to bring the risk of catastrophic events home to your clients
April 9, 2021 by Jason ContantCanada’s property and casualty insurance industry needs to ramp up its public education efforts to bring the risk of catastrophic events home to the Canadian population, speakers said Thursday during the virtual CIP Society Symposium 2021. “I don’t like to…
Vehicle repair mishap engages both home and auto insurance: B.C. Court
April 8, 2021 by Greg MeckbachThe Insurance Corporation of British Columbia is partly responsible for paying legal defence costs of a homeowner being sued by a guest who was injured when the homeowner was repairing his classic car. On Aug. 9, 2015, Gary Upton was…
Three large Canadian brokerages announce separate M&A deals
April 8, 2021 by Jason ContantThree large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while…
Canada’s P&C industry can’t shoulder the losses of the next earthquake by itself
April 7, 2021 by Adam MalikCanada isn’t financially prepared to handle a major earthquake whenever it may come, says an industry observer. As a result, the property and casualty industry is at risk without a plan in place. Models are painting a grim picture of…
Review hears closing arguments into proposed reservoir to protect Calgary from floods
April 7, 2021 by Colette Derworiz - THE CANADIAN PRESSEDMONTON – A lawyer for Alberta Transportation says there’s a serious and urgent need for a proposed reservoir that could protect Calgary from future flooding. Ron Kruhlak made the comment during his closing argument Tuesday before the Natural Resources Conservation…
4-kilometre-long ice jam opens flooding season
March 31, 2021 by Jason ContantA four-kilometre-long ice jam on the Saint John River is creating flooding concerns in New Brunswick. The ice jam has already flooded part of Route 105 leading to the Tobique First Nation and prompted the closure of three schools in…
‘Fire and ice:’ Weather leads to grass fires, slippery highways in southern Alberta
March 31, 2021 by The Canadian PressBROOKS, Alta. – A fast-moving weather system in Alberta brought both fire and ice, resulting in the evacuation of a village one day and a multi-vehicle collision that closed the Trans-Canada Highway between Medicine Hat and Calgary the next. About…
Ontario budget highlights property flood risk
March 25, 2021 by Greg MeckbachInsurers are applauding the Ontario government for its commitment to improve flood mapping and to provide more money for municipal water infrastructure, measures that the industry hopes will reduce the risk of water damage to insured properties. In a press…
OSFI results: The good, the bad, and the ugly for Canada’s P&C industry
March 25, 2021 by David GambrillCOVID-19 last year might have been the end of the world as we know it, to riff on a song by R.E.M., but Canada’s P&C insurance industry is doing fine — financially, at least. After a full year of the…
Strata unit owner loses $5,000 claim after mice chew through dishwasher line
March 24, 2021 by David GambrillIn the case of a flood caused by a mice infestation, a B.C. strata unit owner was not allowed to recover her $500 insurance deductible or $273 premium increase from the strata corporation despite having warned the strata corporation about…