Canadian Underwriter

Topic Property

Tailings pond dam breaks spilling content into river
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Updated tailings code after Mount Polley disaster an improvement: B.C. mines auditor

June 18, 2021 by The Canadian Press

VICTORIA – A new report says changes to British Columbia’s requirements for tailings storage after the Mount Polley disaster have generally improved the management of mining waste. The mines chief auditor found many of the revisions made in 2016 to

The small town of Okotoks was hit hard by the June floods of 2013, with the river valley rushing and raging through wiping out pedestrian bridges, campgrounds, river banks and pathways.
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Progress report: Canada-wide flood mapping is well underway

June 16, 2021 by Greg Meckbach

A nationwide estimate of coastal, pluvial, and fluvial flood hazard is one part of the ongoing effort to come up with a national approach to insuring or re-locating homes at high risk of flood, a federal government official suggests. Flood

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Where Canada sits with national low-cost residential flood insurance 

June 10, 2021 by Greg Meckbach

Six possible flood insurance models for homes at high risk of flood are about to go through an actuarial review, a federal government official suggests. The Task Force on Flood Insurance and Relocation is going to hand off those possible

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MGA simplifies purchase and validation of tenant’s insurance online

June 9, 2021 by Greg Meckbach

Landlords often require their tenants to have insurance coverage as a condition of the leases, but it could be quite a paper chase to keep track of thousands of tenants and their insurance status. Vancouver-based insurtech and managing general agent

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How home insurance rates in Canada are trending

June 8, 2021 by Adam Malik

Home insurance rates in Alberta today have jumped nearly two-and-a-half times more than what they were 10 years ago, according to an analysis from a rate aggregator. Average home insurance premiums in Alberta have gone from $741 to $1,779 since

News AdjustersClaimsClaims Canada ArchiveClaims ProfessionalsCommercialEnvironmentalLegalLoss ControlNova ScotiaPropertyRisk Managers

In pollution claim, ‘sudden’ could mean several months, court finds

June 8, 2021 by Greg Meckbach

Insurance coverage for a “sudden and accidental” release of diesel fuel can include a discharge that continued over several months, the Nova Scotia Court of Appeal has ruled in a commercial coverage dispute. As a result of Zurich Insurance Company

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A drastic (but effective) way to keep water out of the basement  

June 2, 2021 by Greg Meckbach

A foundation membrane could cost a homeowner client $15,000, and it is probably not something your clients should try installing themselves, but it is “often the most effective method” of waterproofing a basement, a Bobvila.com author suggests. A foundation membrane

News BrokersCommercialConstructionManagementMGAsOperationsPropertyTechnology

The real advantage of straight-through processing in the Lloyd’s market

May 31, 2021 by Greg Meckbach

Managing general agents who can place small business coverage digitally through the Lloyd’s market are at a competitive advantage over MGAs using traditional paper-based processes, an insurtech CEO suggests. “We are one of the very few MGAs that has straight

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Restoration firm suing DKI Canada over termination of agreement

May 30, 2021 by Greg Meckbach

Restoration firm DKI Canada Ltd. is being sued in British Columbia by Coquitlam-based Canstar Restorations Limited Partnership, a former member of the DKI network. Allegations in the lawsuit have not been proven in court. Until 2020, Canstar was operating multiple

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What’s needed to alleviate municipal insurance pressure

May 25, 2021 by Adam Malik

Municipal insurance rates have been rising significantly and the only way to bring them down isn’t only in the hands of the insurance industry, according to a brokerage leader. It’ll take a team effort from multiple parties. Canadian municipalities have

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Why your clients could expect price reductions in home insurance

May 25, 2021 by Greg Meckbach

If insurers can achieve combined ratios of less than 80% in personal property, homeowners should expect to see lower prices and possibly even rebates, the CEO of LowestRates.ca suggests. “For consumers, if insurance companies are making money, then it means

News BrokersClaimsInsurersLiabilityProperty

Municipal insurers heading for the exits, broker exec reports

May 11, 2021 by Adam Malik

A decade of sliding down a slippery financial slope has prompted insurers to run for the exits in the municipal insurance line of business. A number of companies have exited the market, with more possibly to follow, leaving brokers with