Topic Personal Home
New innocent co-insured law does not apply retroactively: Appeal Court
May 18, 2022 by David GambrillOntario’s new innocent co-insured law does not apply retroactively to claims events that happened before the legislation was passed, the Ontario Appeal Court has ruled. The co-insured rule restricts application of insurers’ policy exclusions for criminal acts only to those…
Forest fire in northeast Ontario community forces residents to evacuate
May 17, 2022 by The Canadian PressA forest fire has forced the evacuation of residents in a community north of Sudbury, Ont. Conservation officers and Ontario Provincial Police assisted with the precautionary evacuation of Shining Tree, Ont., residents Saturday afternoon after a forest fire broke out…
What cottagers may overlook when it comes to seasonal insurance
May 17, 2022 by Alyssa DiSabatinoWith the May long weekend just around the corner, many Canadians will be packing their bags and heading up to the cottage, but a post-pandemic surge of demand may mean a lot of cottage rentals, and some important points of…
Rising lumber, materials costs lead claims professionals to tweak their approach
May 16, 2022 by Philip PoradoWith the inflation rate at a 30-year high, specialists handling home reconstruction claims are making adjustments that reflect surging prices for construction components – including lumber, finishing materials and appliances. What started as supply chain problems, some of which were…
Kenora, Ont., residents told to watch for possible flooding amid rising water levels
May 16, 2022 by The Canadian PressA city in northwestern Ontario is monitoring water levels and telling residents to watch for the possibility of flooding. That comes after an evacuation order was issued by the City of Kenora on Friday that said hundreds of residents were…
Ontario Liberals eye auto insurance rates and towing sector
May 13, 2022 by Philip PoradoOntario Liberals want to bring down auto insurance rates but not via percentage targets, as envisioned by the New Democrats. “We will also work tirelessly to bring down auto insurance rates,” said Ontario Liberal Party press secretary Andrea Ernesaks. She noted that will…
Heavy flooding forces residents of Northwest Territories town from their homes
May 13, 2022 by The Canadian PressHAY RIVER, N.W.T. – About 3,500 residents have been ordered to evacuate a town in the Northwest Territories as volatile water levels never before experienced in some areas cause extensive flooding and damage. People in Hay River, on the south…
Where have all the good underwriters gone?
May 12, 2022 by Gloria CilliersFor years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…
Emergency alerts remain: Floodwater on Metis settlement receding
May 12, 2022 by The Canadian PressPADDLE PRAIRIE METIS SETTLEMENT – The chief administrative officer of a Metis settlement in northwestern Alberta says its members are feeling scared as floodwater that was up to the knees a few days ago recedes, exposing the damage left behind.…
4 insurance industry trends to watch
May 11, 2022 by Tara KellyIn this third calendar year marked by the pandemic, emerging trends in data collection and security require insurance policy offerings to keep pace with client needs. We can count on innovation and technology to keep reshaping the insurance sector in…
What Intact expects from personal and commercial lines
May 11, 2022 by Alyssa DiSabatinoNow that pandemic restrictions have lifted, Intact expects to see muted growth in its personal auto and property lines, while commercial lines is positioned for a better performance, the CEO of Intact Financial Corporation said at Intact’s 2022 Q1 results…
Are Canadian homeowners and renters overlooking flood risk?
May 9, 2022 by Jason ContantUnintentional damage during renovations — especially water damage — continues to be an overlooked risk for Canadian homeowners and renters, according to a recent study from Chubb. The Chubb 2021 Homeowners Risk Report: Trends in Home Renovations and Water Damage…