Topic Property
Say what you want about the hard market, it’s working
March 22, 2022 by David GambrillThe hard market may be the biggest challenge facing the broker channel, according to Canadian Underwriter‘s 2022 National Broker Survey, but statistics show it’s vastly improved the P&C industry’s financial health. Canada’s property and casualty insurance industry reported an underwriting…
A new way for insurers to handle construction delays and cost overruns
March 17, 2022 by Jonathan E. McNattySince 2016, the federal government’s slated nearly $100 billion to support development of transit extensions, shipping port improvements, affordable housing and more. When private-sector construction slowed in March 2020, federal infrastructure building quickly filled the gap. And, throughout 2021, both…
Fort Mac bowling alley covered for water damage despite flood exclusion
March 1, 2022 by David GambrillA Fort McMurray, Alta., bowling alley is entitled to coverage for water damage sustained in the April 2020 flooding, despite its insurance policy containing a clear flood exclusion. The Alberta Court of Queen’s Bench found Intact included a coverage extension…
Politicians condemn violence at Coastal GasLink construction site in northern B.C.
February 22, 2022 by Hina Alam - THE CANADIAN PRESSPoliticians are denouncing what police have called a violent confrontation in separate attacks against officers and employees at a construction site for a natural gas pipeline being built across northern British Columbia. Federal Public Safety Minister Marco Mendicino called the…
Wildfire destroys Lytton’s governance records; B.C. gives OK to rewrite bylaws
February 10, 2022 by Dirk Meissner - THE CANADIAN PRESSVICTORIA – The mayor of the fire-ravaged community of Lytton, B.C., says rewriting the village’s bylaws from scratch will be about as entertaining as going to the dentist but it’s another step in the massive rebuilding effort. The village’s records…
Governments announce $228 million agriculture recovery fund after B.C. floods
February 8, 2022 by The Canadian PressVICTORIA – Agricultural producers affected by devastating flooding in British Columbia last November can apply for recovery funds through a $228-million package announced Monday by the provincial and federal governments. The total losses for the agricultural sector from flooding that…
How to reduce escalating municipal insurance costs
February 4, 2022 by Jason ContantOntario’s Ministry of the Attorney General has established a ‘technical table’ to review issues surrounding rising municipal insurance costs, including joint and several liability. “Insurance costs for municipalities in Ontario have been rising, and the subject of much concern for…
Green buildings can boost productivity, well-being and health of workers
February 3, 2022 by The Canadian PressMd Sazan Rahman, PhD Candidate, Bioresource Engineering, McGill University This article was originally published on The Conversation, an independent and nonprofit source of news, analysis and commentary from academic experts. Disclosure information is available on the original site. ___ Most…
Canadian MGA adopts new national brand
February 1, 2022 by Alyssa DiSabatinoAgile Underwriting Solutions announced that Guardian Risk Managers and Exhale Insurance will be rebranded under Agile, effective Feb. 1, 2022. Agile, based in Nova Scotia and owned by Westland Insurance, is an MGA that specializes in hard-to-place personal and commercial…
Omicron variant raises uncertainty as companies downgrade forecasts
February 1, 2022 by Christopher Reynolds - THE CANADIAN PRESSThe highly transmissible Omicron variant has prompted companies in the manufacturing and resource sectors to downgrade their earnings forecasts amid ongoing uncertainty linked to the COVID-19 pandemic. Cascades Inc., the Quebec-based packaging and tissue company, said Monday it expects fourth-quarter…
Indigenous non-profit looks to acquire ownership of Trans Mountain Pipeline
January 24, 2022 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – A new Indigenous non-profit organization is seeking an ownership stake in the Trans Mountain Pipeline, saying its aim is to make sure communities along the pipeline’s route receive its benefits directly. Nesika Services publicly launched Monday, calling itself…
Behind the hard-hit condo insurance market in B.C. and Alberta
January 20, 2022 by Jason ContantWood frame construction for stratas, increased building material costs, and earthquake exposure in British Columbia contributed to the skyrocketing condo insurance premiums that hard market sector saw over the past few years, an Aon executive says. “There’s a lot more…