ABBOTSFORD, B.C. – Improperly discarded smoking materials likely played a part in a recent fire in an Abbotsford, B.C., apartment building that left more than 100 people homeless. Assistant chief Ron Hull, with Abbotsford Fire Rescue Services, says the extent…
There’s good and bad news when it comes to the flood preparedness of 16 major Canadian cities. The bad news is that the average level of flood preparedness has remained stagnant from 2015 to 2019-20, showing a considerable margin for…
Intact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade…
When broader government assistance is available for earthquake insurance, the take-up rates for private earthquake insurance appear to be suppressed, according to a new study on the difference between earthquake insurance rates in B.C.’s Lower Mainland and neighbouring Washington State…
Recent price increases in building materials means it is harder than normal to predict the cost of repairing property damage, restoration experts say. Restoration contractor Peak Services handled several thousand claims after the June 13, 2020, record hail storm in…
Although it will take some time, selling personal cyber insurance will come as naturally to brokers as selling home and auto insurance to customers, an expert predicts. Until that happens, however, it’s up to brokers to make sure that personal…
A large increase in deductibles on condo corporations’ insurance is starting to put pressure on individual condo owners’ premiums, a new report from LowestRates.ca shows. “When a deductible goes up – say from $20,000 a year to $100,000, or $200,000…
Brokers have been on the front lines while the global COVID-19 pandemic has tightened its grip on the economy and, in turn, brokers’ clients. Four leading national brokerage executives will take a look at what Canadian brokers can expect as…
The number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had…
Industry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation…
Average personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both…
TORONTO – Four people were killed and several others were injured after flames ripped through an east-end Toronto home early Friday. Toronto’s fire service said six people were taken from the home and two were in hospital. Deborah Bies, who…