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,…
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…
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…
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…
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…
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…
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,…
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,…
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…
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.…
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…
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…