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Storm could cause flooding in parts of New Brunswick

November 30, 2020 by The Canadian Press

FREDERICTON – Emergency Measures officials in New Brunswick are urging residents to be prepared for a large storm system that has the potential to cause flooding in low-lying areas. The storm, which is expected to hit the province later today,

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Aviva CEO sides with science against fruitless conjecture around climate risk

November 27, 2020 by Adam Malik

Aviva Canada CEO Jason Storah has no time for arguing about the validity of climate change and the threats facing the planet that are affecting the insurance industry. Instead of debates about climate change based on speculation and conjecture, he’d

News ClaimsNewfoundland & LabradorPersonal HomeProperty

Central Labrador snowfall breaks one record, nearly smashes a second

November 25, 2020 by The Canadian Press

HAPPY VALLEY-GOOSE BAY, N.L. – A two-day snowstorm that began Monday has buried central Labrador under a record-setting blanket of snow. Environment Canada meteorologist David Neil said today the 75 centimetres of snow covering Happy Valley-Goose Bay is the second-largest

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‘Nasty day’ in Labrador as blizzard dumps 63 cm of snow – and counting

November 24, 2020 by The Canadian Press

HAPPY VALLEY-GOOSE BAY, N.L. – People in parts of Labrador are facing a few tough shifts of snow shovelling. As a blizzard rips across much of Labrador today, Environment Canada meteorologist David Neil says Happy Valley-Goose Bay was leading the

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The Alberta hail cat has not stopped biting

November 23, 2020 by Greg Meckbach

Insurers are still receiving new claims from the June 2020 Alberta hail storm that is estimated to have cost the industry more than $1 billion. “We are actually still seeing some new losses reported from the June storm today,” said

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For insurance purposes, if it’s not managed as a strata, it’s still a strata: Tribunal

November 19, 2020 by David Gambrill

The owner of a strata lot in a duplex that was not managed as a strata — for example, there was no strata board of directors, annual board meetings, etc. – must nevertheless pay for her half of the strata

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Adjusters monitoring Ontario windstorm as a “potential” Cat event

November 16, 2020 by Jason Contant

Claims adjusters are watching to see if an overnight Ontario windstorm will meet the $25-million threshold of a natural catastrophe (NatCat). As of September, Canadian P&C companies had paid out $2.1 billion for insured NatCat events this year. For now,

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Westland brokerage moves in an easterly direction

November 13, 2020 by Jason Contant

Westland Insurance’s mergers and acquisition strategy continues in an easterly direction from its roots in British Columbia. Just days after closing its first-ever brokerage acquisition in Ontario, Westland Insurance Group Ltd. announced its second acquisition in Manitoba. On Nov. 10,

News CatastrophesClaimsClaims Canada ArchiveLoss TrendsPersonal HomeProperty

Today’s cat losses ‘unimaginable’ even 10 years ago: mutual CEO

November 12, 2020 by Greg Meckbach

The increase in cat losses over the past 10 years alone is high on the radar for Canada’s mutual insurers and has the industry calling for measures to help adapt properties to severe weather. “We have seen weather and wildfire

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‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada

November 11, 2020 by Greg Meckbach

A $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.

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Alberta farmers file what may be first class-action lawsuit over unpaid oil leases

November 11, 2020 by The Canadian Press

CALGARY – Two Alberta landowners have filed what a lawyer says could be the first class-action lawsuit against an energy company for not making its lease payments. “It’s a pretty clear contract,” said lawyer Matthew Farrell, who is representing Reinhold

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IBC talking to feds about future pandemic risk transfer

November 2, 2020 by Greg Meckbach

The Insurance Bureau of Canada is starting to look for a national approach to transferring pandemic risk, Ontario brokers have learned. “IBC is in the early stages of exploring what a pandemic risk transfer mechanism would look like with the