Topic Property
Is the commercial insurance market starting to soften?
November 16, 2021 by Jason ContantPremium rate changes in commercial lines in Canada have experienced a slight downturn quarter-over-quarter, indicating that the commercial hard market may be easing up a bit. “While we are still experiencing a hard market, the Q3 index shows a slight…
Stability, finally? What insurers and brokers can look forward to in 2022
November 12, 2021 by Brooke SmithBrokers and insurers may see some stabilization in the market in 2022. “We saw tremendous rate pressure, high operating ratios, and low ROIs in 2019 and 2020,” said Kevin Neiles, president, Western Canada and chief markets officer at Gallagher, during…
Too little, too late? The devastating consequences of natural disasters must inform building codes
November 10, 2021 by The Canadian PressBy Anastasia Athanasiou, Postdoctoral fellow, Civil and Environmental Engineering, Concordia 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.…
Environment Canada working to confirm possible weekend tornado over Vancouver
November 8, 2021 by The Canadian PressVANCOUVER – Environment Canada is examining all available evidence as meteorologists try to confirm if a rare and powerful tornado touched down Saturday on Vancouver’s west side. The weather office confirms a tornado was spotted over the Strait of…
Three reasons Fairfax predicts a continuing hard market
November 5, 2021 by Greg MeckbachAs carriers continue taking a good hard look at their risk appetites, price increases could continue well into 2022. “We expect market conditions to remain strong throughout 2021 and well into 2022,” said Peter Clarke, chief operating officer of Toronto-based…
Barrie tornado will cost more than originally estimated
October 28, 2021 by Greg MeckbachA bad storm system this past July will probably cost the industry about $100 million. On July 15, several tornadoes touched down in central Ontario. One caused irreparable damage to dozens of homes in Barrie, about 100 kilometres north of…
Hurricane Larry will probably cost the industry this much
October 27, 2021 by Greg MeckbachInsurers will probably pay out $25 million towards claims from Hurricane Larry. That is the initial estimate from Catastrophe Indices and Quantification Inc. (CatIQ), the Insurance Bureau of Canada said Wednesday in a press release. Hurricane Larry made landfall on…
Eagle Underwriting gets acquired, keeps own brand
October 26, 2021 by Greg MeckbachManaging general agent Eagle Underwriting Group Inc. has been acquired by GroupAssur, private equity firm Novacap Management Inc. announced Tuesday. “With Eagle, the objective was to get a broader spectrum of product,” said Jean-François Raymond, president of Montreal-based GroupAssur, in…
Tips for your clients to protect against cargo theft
October 20, 2021 by Jason ContantIf your clients are carrying cargo, they should take a comprehensive and layered approach to protecting these goods, a transportation expert from Travelers said recently. This comprehensive approach consists of three layers — good processes, procedures and practices; “hard security”…
Montreal-made website uses AI to show impacts of climate change on any address
October 14, 2021 by Tara Deschamps - THE CANADIAN PRESSTORONTO – Imagine Parliament Hill blanketed in orange skies, floodwaters climbing the sides of BC Place stadium or a thick layer of smog fogging the view of Halifax from Citadel Hill. These are all scenes depicted on a website published…
A fire season like none other
October 6, 2021 by Jason Contant, Online EditorEven as B.C. wildfires continue to burn, investigations begin and claims start rolling in.
As small business sentiment drops, Liberals pressed to give benefits extra life
October 6, 2021 by Jordan Press - THE CANADIAN PRESSOTTAWA – A group representing thousands of small businesses says uncertainty over the fate of federal pandemic supports is causing its members to lose confidence in their financial prospects, and pushing the Liberals to provide more life support for ailing…